Protect Your Employees from Poaching
November 7, 2013
Poaching or employee raiding is when another business or firm targets your valued team members and attempts to lure them away.
Small businesses, especially successful ones, become viable targets because bigger businesses know they can offer more in terms of cash benefits. So how do you ensure that your small business retains those valuable team members who you have invested in?
- Start at the beginning and include non-compete clauses in each and every employee’s contract. Potential employees may shy away from these agreements as they can feel trapped in their career trajectory and not all state law recognize these agreements.
- You can also prevent the temptation by nurturing your employees and providing adequate incentives. Create long-term incentive plans and keep your employees involved in planning for the company’s future.
- Managers can often underestimate the value of small acts of kindness and inspiration when it comes to their employee’s satisfaction. Make this a top priority and incorporate it into daily work life. Be the boss that employees want to work for.
Employees want to feel engaged and interested in their work, feel appreciated and that their effort and opinion counts as well as being confident your organization is invested in their future.
Consider these simple ideas carefully:
- Actually saying ‘Thank You!’- Besides these simple words, make other rewards achievable and regular.
- Keep communication open and make it known that their opinions count.
- Build company culture and unite the ranks.
- Promote a work/life balance. Making their lives better outside the work place shows that you actually care.
- Invest in staff development- if you don’t encourage their growth and help them achieve their goals they will go somewhere that will!
- Reach out to your employees and give them a chance to tell you what needs to happen in order to keep them happy!