Ask the Expert
Employee Retention: How to Keep Your Best People
Chris Buttenham shares real-world retention strategies you can implement in your business immediately
On this episode of Ask The Expert, Chris Buttenham, Founder of REINS, sat down with us to discuss employee retention and the importance it plays in the success of your business. Chris has been in the technology and software business for 10 years and he has dedicated his time to helping contractors retain their best employees. Chris answered some hot questions in the world of retention, and he didn’t hold back. You can implement these tips and methods into your business, today!
Key Topics of Discussion Include:
- Reasons the restoration/trades industry struggles with employee retention:
- Talent shortage and supply/demand imbalance
- In the past, owners have not been prioritizing culture and employee motivation
- Effective strategies for improving employee retention:
- Focusing on building a strong company culture
- Implementing transparent communication and career progression plans
- Offering equity-based incentives and profit-sharing programs
- Immediate steps companies can take to improve retention:
- Conducting exit interviews to understand turnover issues
- Developing short-term and long-term incentive programs
- Aligning financial incentives with company goals
- Importance of providing a clear career path and growth opportunities for employees
- Challenges of retaining employees in an era of shorter job tenures (2-3 years on average)
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