There are two key steps to building a strong workforce. Get good people in the front door and make sure they don’t just walk out the back door.
Several recent studies have highlighted the difficulty that small businesses are having in finding qualified workers. That is, they are having a tough time getting workers in through the front door.
A new survey suggests that many small business owners have done an effective job of keeping their workers from walking right out the back door to another employer. According to a National Federation of Independent Business Small-Business Poll released yesterday on unemployment compensation, nearly half of all small businesses, 49 percent, experienced no employee turnover during the past 12 months.
In a period of low unemployment that is remarkable. Creating a positive culture, offering good working conditions and good jobs, and fair compensation all play a roll in retaining workers. It seems that many small businesses must be getting this right.
Providing equal benefits (competitive to others) to employees is the key to retain them. High staff turnover is a signal of bad management.