Staff retention is no easy feat for SMEs. From a business perspective, SMEs are trying to find a place for themselves among larger competitors in their market while keeping their operating costs to a minimum. However, to grow and be successful, SMEs need to attract and pay for the best employees, keep them happy, and most importantly retain them. SMEs don’t have the luxury of a well-known brand to retain staff, and the knowledge that their staff does have, has to remain within the organisation.
These three tips for SMEs on staff retention can also help your employees achieve a work-life balance:
1) Give staff access to the best technology
Today people will make a decision about working for a company based on the type of technology they are going to be given to do the job with. This is especially true with the millennial generation, who have grown up with technology as part of their lives. Think beyond devices, and consider applications and software-as-a-service, where access to the tools [to do the job] is instant.
2) Enable flexible work hours for staff to promote a better work/life balance
Many people won’t consider jobs, if they can’t work from home (at least some of the time), or wrap their job around their lifestyle. Nine to five working has become a thing of the past, and people expect to be able to work remotely, from anywhere, at any time, with full access to all the documents they need. Consider deploying a cloud business communications system, which is fully integrated with your CRM and documentation (such as box.com and Outlook), so people have the flexibility and freedom to work how they want to, anywhere they want to.
3) Train people so they become champions in their field
Give people the training they need to be the best at what they do in their line of work. Training courses are available online and powered through cloud computing, so people can fit training in around their work schedules, so you don’t lose critical manpower while they are out of the office on a course. Also, take advantage of new technology, so staff are up-to-speed on the latest techniques and can be the most productive.
Cloud technology hasn’t just transformed the way we work, it can help SMEs to retain staff. For example, one of RingCentral’s customers, Dean Payne who is the founder of Optimum Healthcare Solutions Group, is a huge advocate of cloud technology as it lets his staff lead flexible lives and work remotely. His staff are like his family and he likes to have the flexibility to be able to extend opportunities within the company, even when staff move away. Thanks to cloud technology, Dean will be relocating a member of his staff to Germany in August, when her husband moves there with his job.
Originally published Jun 23, 2014, updated Aug 07, 2020