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How Do You Keep Your Startup Employees From Quitting?
II was recently asked the question, “What should I do to keep an employee that has quit from leaving.” I was happy to answer the question because I have a perfect batting average as CEO of keeping employees from quitting.
That’s right. Zero percent. The key to keeping your employees from quitting is making sure your employees never get to the point where they want to quit. And we were very good at keeping employees from quitting.
Today, I’ll share with you ten strategies to retain your employees and keep them from quitting.
Let’s start with number one on my list…
1. Compensate your employees fairly.
Okay, this is an obvious one, I know. However, you can’t expect great talent to keep working for a small salary.
That may be true for you and your co-founders. However, your employees don’t have the huge amount of equity that you and your co-founders have.
Your employees, not you or your co-founders, should be the first people paid at the market rate. So, bump their salaries up to the market rate as quickly as you can. This leads directly to my next point…
