Successful small businesses use strategies to attract, satisfy and build a loyal, high-performing customer base. These same strategies can be used to attract, satisfy and build a loyal, high-performing workforce. Working in tandem, these two dynamics will produce strong business performance. The following five strategies will help you build a loyal workforce.
Make sure
compensation plans are competitive.
Small businesses that pay below-market salaries or give the
perception of paying below-market salaries risk losing their workers to
companies that pay more or give the perception of paying more for the same work
value.
Monster research indicates that salary is the number one
factor that employees consider as they evaluate new job opportunities. Therefore, small business must align their
compensation plans to be competitive in their market and remove any employee or
potential employee perception that a misalignment exists.
Target the right
hire.
Attract and retain workers that will appreciate and value
your small business company culture. Monster
research shows that about one-third of the workforce prefers working in a small
business culture.
Top reasons those workers give for valuing a small business
work environment include: being part of a “family”, feeling more valuable as a
worker, being treated as an individual, making a bigger impact and getting
opportunities to learn by doing a variety of roles. Small businesses can promote these workplace
values to attract new workers and build employee loyalty.
Communicate a strong
and attractive employer brand
Small businesses should build and promote an employee brand
that readily communicates its values to attract the right workers. Reinforcing such values to current employees
helps build employee loyalty as well.
Monster research indicates that 68 percent of the workforce
would consider a new job to obtain improved work culture and leadership. By growing an awareness of your employee brand
as one that embraces the values these workers are seeking, a small business
will attract and keep the right workers who favor similar values.
Continually fill a
pipeline of prospects
With a vast majority of the workforce ready to pursue a new
job, it is probable that small businesses will lose workers as the economy
expands and new job opportunities grow. Small businesses need to create a talent
pipeline that continuously attracts new talent and the right talent for its
workforce
Strive to keep your
“A” workers
As a small business you are dependent on the key workers who
deliver your business performance. These
are your “A” players. These are the
workers whose loyalty is most valuable and perhaps, critical, to your small
business.
Consider your workforce and identify those workers who are
delivering the majority of business value. Next, ensure that your employee loyalty
strategies—those strategies you design to emotionally engage a worker—are
focused on your “A” team.
