Once You Have the Dream Team, It’s About Employee Retention

.   Employee Reviews: An effective review process helps employees reach peak performance.

• Hold regular reviews-quarterly or at least annually.
• Set objective performance standards and create a review form to measure and document them.
• Focus on both processes and results.
• Give the employee’s supervisors and /or managers input into the review.
• Get the employee’s feedback about his or her performance before the review.
• Consider using 360-degree reviews, where managers gather feedback about an employee’s performance from sources, including co-workers, customers and vendors.
• Decide how pay increases and bonuses will be handled. Will raises be given annually, or upon promotion? If bonuses are offered, document goals employees must reach to earn them.
• Create written promotion policies that spell out what is required to advance to the next level; clearly communicate standards and expectations to employees.

Create a culture of responsibility:

• Set measurable, objective goals and performance standards for each job, each department and the business as a whole.
• Make sure each employee knows what is expected of him or her.
• Ensure employees have time to complete their assigned tasks.
• Make employees responsible for outcomes, not just tasks.

Problem Employees: Your employee handbook should spell out the standards employees must follow, including cause for discipline or termination. Actions such as theft may be grounds for immediate dismissal; for other issues, create a progressive discipline policy that includes:

1. A verbal warning and a timeline for improvement
2. A written warning stating steps for improvement and consequences if goals are not met
3. Suspension (if needed to investigate the problem) and a final written warning
4. Termination

All stages of a disciplinary action should be documented in writing. Before disciplining or terminating an employee, consult an attorney familiar with employment law in your state. HR Help: As your company grows, you may need a dedicated HR manager. If this is beyond your budget, designate one employee (such as your office manager) to oversee HR issues. He or she should have access to HR training and know when to enlist outside help, such as your attorney or an outside consultant, to resolve complex questions. Retaining Qualified Employees: Hiring costs time and money. Retaining qualified employees will save you time and money and will help you stay competitive and keep you business running smoothly. You can retain employees by offering them benefits. Next- Paid Benefits and Low Cost Benefits