With all the talk about recruiting and finding talent, it’s easy to forget that employee turnover is a real challenge and that strong employees always have multiple job offers. Of course, the best thing to do is create a great culture that not only attracts awesome people but also retains them.
Here are a few thoughts on employee turnover in a startup:
- Always reach out and understand why a team member is leaving through an exit interview or an informal conversation
- Discuss the employee that is leaving with other key team members and find out where they stand
- Work hard at proactively building career paths so that team members understand the opportunities ahead
- Continually maintain relationships with potential hires as well as recruiters
- Startups that are growing fast and creating new internal opportunities often have lower turnover
- When a key employee leaves in good graces, throw a party and recognize them
Employee turnover in a startup, as in any business, is a real challenge. The best thing to do is to build a great corporate culture and strong relationships with team members.
What else? What are some more thoughts on employee turnover in a startup?