Loving your employees.

Whilst it’s hard to escape the news that Europe, or at least several parts of it, are in a downturn/recession/double-dip recession/in stagnation (please delete which option you feel isn’t applicable), the fact remains that there are successful businesses across the continent that are trading profitably, show growth signs and have cash in the bank. Invariably they don’t have a monopoly and as a consequence they have competitors which would like to steal (a) some of their market share and (b) quite possibly a number of their key employees.


That means that you run the risk of one of your staff handing you an envelope on a Monday or Friday with their resignation in it; so how are companies making sure that that doesn’t happen?

I'm talking about the things that the best companies do to engender the dedication, loyalty and, yes, even the love of the people who work for them.

Everyone knows that the days of the one-company career are long gone. Depending on what data you choose to believe, the average person will change jobs between five and seven times in a lifetime. So if you run a business, it is virtually certain you will lose every employee you have (hopefully not all at once).

It's a reality that hurts, because enlightened companies know that employees are every bit as important as customers and other stakeholders, and great employees are hard to find and painful to lose. Whilst you may have to accept that your employees won't stay forever, you should never stop working at making your company the kind of place that's hard to leave.

Companies with the happiest and most productive employees, and the lowest turnover, tend to have key people-priorities in common.


Trust. In both directions. Your employees need to trust you, know where they stand with you, and feel safe with you. And you must show that you trust them, whether it's with projects, decisions, time or money. The miserable and destructive phenomenon of "office politics," as clichéd as it may be, really boils down to nothing more than issues of trust.

Responsibility. Give your people as much as they can handle, maybe even a little more. It tells them that they and their jobs are valuable and gives them a chance to shine (or fail). It helps you identify star performers, it discourages logjams and gets more done, and it's good for your business.

Culture. Your company culture is its heart and soul, the glue that holds it together. Great employees don't stick around in companies with lousy cultures, and all other things being equal, employees perform better within a great culture. And this is usually an area where smaller businesses can almost always have an edge.

Opportunity. People naturally want to keep moving, preferably upward. And they will naturally stay with an employer longer if they know they can earn the chance to do more or different things, climb the proverbial ladder, and earn more money. This can be challenging for small companies, as with only a handful of jobs there just might not be a ladder to climb. You should seek and create opportunities for people wherever and however you can.

Recognition. Some people love getting awards, plaques and employee-of-the-month certificates. But what really matters over the long term is ongoing, straightforward, day-to-day appreciation and recognition. Give genuine praise, both publicly and privately, for work well done. Never take even tacit credit for someone else's work (and in general give much more credit than you take). Say thank you, often. There are few things that will get an employee to start polishing up their CV faster than feeling unappreciated.

Salary. Of everything on this list it's the one over which most small businesses have the least control. Clearly a good employer must do its best to pay good people what they're worth, but small companies often can't compete with big ones when it comes to compensation or "packages." So while pay is obviously a critical issue, the limited resources of a small business make the other five elements all the more important.

Trust, responsibility, culture, opportunity and recognition are entirely within the means and resources of any company, and it has been proven time and time again that employees will, within reason, make salary compromises for the most appealing overall opportunity.

The employer/employee relationship is much the same as any other relationship: what you get largely reflects what you give.

For more on Chesterton Gray then please visit our web site www.chestertongray.com