Julie Seletto shares 6 ways to keep great talent without breaking the bank, with StartupSmart.
Recruiting new staff is an expensive exercise costing a business both time and money, not to mention the opportunity costs of delayed projects, overstretching of already limited resources and reduced staff productivity.
It is always a more cost-effective strategy to retain existing talent, and it’s not as hard as many might think.
While it is easy to assume that monetary incentives help to keep great talent, it’s only part of the story.
1. Hire the right people
2. Involve your best talent in important business decisions
3. Be creative with staff development and career progression within the business
4. Time off and holiday benefits
5. Create a fun and flexible work culture
6. Talk often