Invest in your people to retain employees

Let’s Talk – Oren Klaber

You must take care of your employees. You just have to take care of your employees, and part of it is just asking them what's working for them, how is it working? And obviously acknowledging the work that they're doing and appreciating the work that they're doing, but it all starts there, because without them, you really have no business. It's just, there's nothing left.

Invest in your people first.

You're seeing more and more employees looking around and going, geez, you know, what else is out there for me? Are you my only option? And in a very hot job market, you're not the only option. So, that's number one. You just have to accept that it's just the reality and you're going to have to address that in some way.

Invest in the digital transformation.

And as I mentioned before, address it by staying current and investing in the digital transformation that's going on.

So, when an employee comes to you and says, "Hey, I'm really interested in maybe moving to another group or developing my skill in X or Y or Z," you have the capacity and the openness and the willingness to invest in them and to develop that.

And if you do that, that can be actually a more powerful attractor and magnet for your employees than simply paying them more money.