Let’s assume you offer your employees competitive pay and benefits–perhaps even above average–and a comfortable workplace with popular amenities. Yet your turnover rate is high. Losing talent is a costly problem.
How do you fix it?
The answer might surprise you. It’s not difficult and doesn’t cost very much. What is it?
You need to do a better job of showing your employees that you appreciate them.
This may sound Pollyanna, but you need to pay attention, because failure to do this is common among entrepreneurs regardless of industry.
A monster.com poll of workers and job seekers found that 90% of Americans occasionally feel underappreciated on the job and nearly 50% say they never feel appreciated. Another study from Gallup and the Families and Work Institute found that only about a third of employees are happy on the job most of the time.