How to Keep Your Business From Losing Key Employees

If you're a business owner who keeps losing your key employees, consider these reasons why they may be jumping ship.

I've worked in payroll and HR for over thirty years and have interviewed numerous employees to ask why they leave for another job. I see the current trend for workers to only stay with a company for a short time and leave for reasons that could have been avoided.

The number one reason employees move on in their career is because they don't get the raise or promotion they think they deserve. Those that ask for a raise for a job well done find themselves being turned down or given excuses as to why the company can't afford an increase. Employers need to realize that it costs far more to recruit, hire and train a new employee than it would to retain the ones they already have. People who don't feel they are being paid what they are worth will go somewhere else where they will be.

Some employees move on because they get tired of spending their own money for company expenses and don't get reimbursed in a timely fashion or without jumping through hoops. If they have to pay for parking, hotels, or conference expenses out of their own pocket, this can put a serious crimp in their monthly budget. Making them wait a month or longer to be paid back is too long. Consider reimbursing your employees on the same schedule as they are paid, or offer to open a company credit card in their name. Let them know they need to be as responsible for this card as they are with their own, and require them to validate the charges on the monthly statement before you pay it.

Family problems will come up-kids or aging parents get sick, the furnace or car breaks down. An employer who is flexible and will allow their employees to take the time when they need it will find they keep them. I've seen salaried employees work extra hours on a project or business trip, but then later are reprimanded if they need to take a morning off for a doctor's visit. If your employee goes that extra mile when you need it, then you have to extend the same courtesy to them.

An employer who refuses to consider all possibilities that are now becoming the norm can find his employees looking for a boss who will. With the high cost of commuting, many companies now offer alternative perks that can save the employee time and money. If an employee asks to work from home and is turned down while others in the firm are allowed to will feel he is not being treated fairly. Consider offering your employees a flexible schedule that fits their needs-instead of nine to five, how about ten to six? Allow employees to save commuting time and costs by working from home one or two days a week.

Employers who treat their employees with respect, and offer a competitive salary and flexible working alternatives will wind up retaining their best employees.

2007 Kathy Swann

Kathy Swann has over 25 years experience in office management, payroll and Human Resources and also works as a consultant for several small businesses. She is the author of the "How to Win" series of e-books available at http://www.SuncatcherPress.com

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