Employee Turnover in a Startup

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?

2 thoughts on “Employee Turnover in a Startup

  1. Having talented leaders and managers will usually help yo recruit great talent and retention as people generally want to work for the Best, Learn, and always be growing. Great leaders and managers do this well. Culture will help solidify this further as will benefits but culture and benefits alone aren’t enough to retain A players. Also, to the extent you are looking to grow and exit, I love the idea of employee owned companies having everyone from executives, to staff to 3rd party resources all having a stake in the business success and be transparent with them. Plus, if an employee is. It working out due to performance or culture fit then get rid of them immediately as mediocrity breeds mediocrity and a loser is a loser.

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