Retaining Your Talent in Economic Hardships

Many believe people are a company’s greatest asset, but I believe the culture created by the people working for you is your greatest asset. Culture defines who you are and aids in making hiring decisions. With the right culture, you can cultivate skills and encourage employee loyalty, and in the end, your business will come through stronger and much more efficient than before.

Though it is impossible to guarantee that your great employees will stay through the hardships, there are some measures you can take the greatly increase your chances.

Clearly define your Mission, Vision, and Values. Make sure you have developed a picture of today, tomorrow and what governs your decisions. An employee that understands where you are, where you’re going, and why, feels much more secure in their future.

Develop an Ownership Mentality. Empower your staff to give suggestions and ideas – from part time server to the Director of Sales. When your staff walks through your building or an event, you want them to think “How can I make this better? Can we do this more efficiently?” And reward these ideas. With a little encouragement, you’d be amazed at some of the things your employees at all levels think of.

Encourage Team Building & Communication. Send out a monthly newsletter. Announce birthdays, positive client feedback and new employees. As an off-premise caterer, many of our employees rarely step foot into the building, but they are valued too. Have your staff vote for an employee of the month, and reward that employee, even if it’s just a designated parking spot or a $20 gift card to Starbucks.

When your employees feel valued, when they feel like it’s their company too, they’ll work with you to create solutions and will understand that though things may be hard right now, they will get better.

As my good friend Simon T. Bailey says, “Losers look at what they are going through. Champions look at what we are going to do.” And it is your responsibility to create a culture of Champions.

Warren Dietel, Owner/President