ideas for employee retention and loyalty
my frd runs bootstrap product-SaaS-AI company, pre-revenue & pre-MVP. he says to struggle to keep the new genz happy, ofc he can't pay top/premium packages and looking 6hours of hard work but he sees people honestly working for 2-4hours (remote) and leaving after 6months with no loyalty etc.
any tips and ideas, please don't suggest ideas that cost the company much.
also please share other good experiences
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- Clarity of thought is important to a manager. And the employees must also see that.
- Don't delegate everything. Say simple report preparation or analysis of a report that has been prepared, making ppts etc. being a manager doesn't mean you delegate everything.
- Hire the right people, meaning not by attitude or something but Don't hire over educated people for a role. Eg. Don't hire a CA to pass invoices. Don't hire an engineer who job is to follow bfor updates. Don't call shitty roles with fancy titles like the founders office.
- Founder/ceo doesn't mean they will act as zamindaar and employees are field slaves
- Have some empathy. Everynody loves stability. Gives your employees that.
- Don't penny pinch in number of hours. If they work 2-3 hrs a day, it means either they have only that much work or they are efficient enough. Focus on work done, targets/milestones met. Not how many chai breaks they take, how many times they poop... This is what leads to employees delaying work. Things that can be done in 30 mins take 3 hrs
- You pay salaries doesn't mean you own them for 8 hrs a day. You pay for services rendered
- During appraisal please don't ask what you have done beyond your regular work. You don't hire a plumber and expect him to do electric work along with plumbing.
- Stop appraisal nonsense. If feedback is regular, you don't need year end appraisal. It serves only one purpose remind employees they can be replaced.
- It is not a measurement that working late means hardworking.
This is something that come of my mind immediately....
they follow must of them. but the major is talent. with avg pay, the startup will only get very avg. talent
Good points, @Qwerty2398
It depends on how the interview and assessments are done at the beginning. Do you test for these? Do the questions ask on motivation and why they are doing this?
A startup is not the way to get rich as many think. In fact, it's a timesuck with an unknown payout.
I would love to get a startup experience at my age without worrying about compensation but time and programming experience are against me.
Your friend could go the way of Devin as my other friend did and simply automate where possible to remove costs