As a small business owner, we are very aware of the importance of retaining clients. Client retention means we are excelling in our industry and driving our bottom line. However, when we get caught up in the day to day operations of owning a business, we sometimes forget the importance of employee retention. When businesses have high turnover with employees, it reflects poorly to clients and can cost you additional time and money that could have been spent elsewhere. In the beauty industry, our clients become attached to their stylists and often return to see the same person, even when they move salons. As a small business owner we know that keeping our employees happy is just as important as them holding up their end of the bargain. Listed below are a few things we practice to ensure the highest employee retention.
-Provide small perks: In today’s professional environment, team members are looking for a positive, flexible environment that will allow them to be the best they can be while at work. For example, host a breakfast once a month or hold in-house competitions with a small cash prize or additional paid-time-off to show your team you appreciate them. Things that may seem insignificant to you may pay off in the end when your team is excited to come to work each and every day.
-Foster employee development: Always be on the look-out for ways to help further develop your team’s skills. For example, at Cristophe Salon Newport Beach, we have color or style specialists come in to coach our employees on the latest beauty trends and techniques. Doing these things for your employees will not only keep them motivated, but will create a more successful environment for your business.
- Conduct quarterly reviews/interviews: Reviews are extremely important, as they enable professionals to continue setting new goals to work on throughout the year. Another option is to conduct ‘stay’ interviews; just as you would conduct an ‘exit’ interview, sit down with your employees and ask them questions such as: Why did you come to work here? Why do you enjoy working here? What can we improve upon? Just as your feedback is important to your employees, their feedback can be invaluable to your business.
-Promote from within whenever possible: Give your employees a distinct path of where they can go in the company. Outlining this will allow them to stay motivated and work towards a tangent goal (e.g. higher position) which will improve the overall success of your business.
What are ways you retain your employees and keep them happy? Let us know!