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The costs of hiring, orientation and training can pile up. Having to fill the same position twice or more in a year can be very frustrating and significantly impact productivity, team morale and the bottom line.
While offering more money in the form of wages and benefits may be a good incentive, many business owners – especially new start-ups – may not have it to give. While money is important, there are other things employees value. Given the right mix of employee-centred incentives, many will choose to stay.
What are some employment retention strategies? We’ll break them down into money issues and non-monetary incentives:
Knowing your employee team and continuing to pay attention as that group changes over the years can help you keep your best employees and continue to attract strong applicants.