The growth of start ups can often leave employees without a defined role. Some of them begin as generalists and get lost, while others are promoted too quickly and fail. Here are five ways to avoid losing employees this way from Entrepreneur:
1. Share your vision. A study by Kelton in 2013 found that 40 percent of employees don’t understand the company’s vision. It is important for employees to understand the vision of the company, so that they are able to contribute to it. Clarity on the vision also helps businesses to attract the right people. It prepares employees for the changes the company will go through to reach its goals.
2. Don’t promise titles. Hire for your current needs and avoid making promises of high-level positions. Focus on today rather than two years from now, making growth projections. Remember that if your company grows rapidly, it may not be best to promote inexperienced employees to higher positions. It, quite often, is best to hire new employees with management experience. If you make promises and don’t keep them, you could lose employees with great potential.
3. Give feedback and coaching. Help your employees to grow. Positive feedback helps to build confidence, and corrective feedback can spur improvement and growth. Feedback has great impact on performance. In a study by Harvard Business Review, 72 percent of participants said their job performance would improve if they received corrective feedback. Regular check-ins and performance reviews can help employees see how they are doing.
4. Invest in training. Assess employee skills regularly. Find out what they enjoy and provide the training necessary to help them get to the next level. Even if formal training costs are high, it can help employees to network, mentor one another and work together. There is great value in cross training. Providing training will help your staff achieve work goals and contribute to the overall company vision.
5. Be helpful if dismissal is necessary. Not all employees are likely to stay with you for the entire journey. You may need to let some go, and some may make the choice for themselves. Provide any assistance you can as they search for new jobs.
