1. Take a long term view when making hiring decisions. Don't hire on what you need now, you can use contractors in the short term. Look at what you need 6, 12, 24, or 36 months out. This will provide stability for everyone. 2. Invest in your people. Get them new training. Bring in experts on how they can eliminate debt. Give them tools to grow. Happy people make awesome employees.
3. Set incentives to excel. If they aren't interested in building their skills they will be useless to you in a few years anyway. Have incentives for reading books, taking classes, or getting a new certification. It doesn't have to be much. But make sure they know you are paying attention.
4. Skip the fancy artwork in the lobby. Spend less on nonsense and pay people what they are worth to you, not what the industry dictates. I recall a job I had over 13 years ago. I was a consultant and I billed for every hour I worked. My pay was set based on the industry standard. But I wasn't a standard employee. I busted my butt, but I was restricted because of the normal pay practice. Take a guess how long I stayed? Great people should be paid as such. Why do you want to do things like your competition anyway?
5. Take time to understand your employees. Everyone goes through stuff so be there for them. But be genuine about it. Don't phone it in. If you don't care about your employees you will never be successful in the long run anyway.
6. Focus on your mission and hire the right people. You need to really understand why you are in business and find great people to meet that objective. There are millions of bad employees out there. And they cost you way more than the all stars do.
I am looking for some new carpet for my house I went to my local Home Depot and had them come out to measure the room. They sent over a very rude mean guy. Do you think they are getting my money if that is how they value me? What will the installers be like while in my house all day if the first impression was this guy.
Great companies attract the best people. When all employes up their game we can change the negative trends occurring today in many areas.