What are the best ways to retain employees on a tight budget?

Flexible and work from home option can be even more important for some people than higher salaries. This means they can stay at home with their children, safe money on travel fares or petrol and compensate. This can add more value to their lives and help to understand what your employees need. People can choose if they prefer working from home or hybrid. Giving this choice to them can make them feel more heard and valued.

Wir sind ein Start-up und haben deshalb eher niedrigere Löhne. Was wir unseren Arbeitnehmenden bieten ist jedoch: - work from anywhere: im Rahmen der gesetzlichen Bestimmungen können Mitarbeitende von zu Hause oder sogar aus dem Ausland arbeiten - Kommunikation via Slack, Meetings reduziert auf ein Minimum - keine Meetings vor 9, in der Regel nur am Vormittag und bis spätestens 16h - Coffee for free und ebenso kostenlose Periodenprodukte - eine Arbeitskultur, die ein psychologischer Safe Space ist. - ein Boutique Büro, 3 Minuten vom Zürichsee entfernt. 😊

We have to acknowledge the basic socio-economic change in the post-covid scenario and rapid improvement in online connectivity for remote working , even across geographical boundaries. The flexible working needs maintaining productivity and quality of output will need to be addressed. This will be a growing requirement of employee retention and work satisfaction in the changing world . Technological adaptation will be needed to meet this demand and at the same time maintaining the need of collaborative spirit of teamwork and joint exchanges . A hybrid model of remote and office work may become order of the day !

While financial incentives are often limited in tight-budget scenarios, the intrinsic value of job satisfaction cannot be overlooked. Emphasize clear communication, transparent growth pathways, and genuine appreciation. Building trust and fostering a sense of belonging can significantly enhance employee loyalty. Additionally, periodic team-building activities and creating avenues for open dialogue can further solidify the bond between the organization and its employees, ensuring they feel valued and motivated despite budget constraints.

Lidera con el ejemplo... Creo que es lo más inspirador y poderoso. Tanta gente habla de tantas cosas, pero cuántos tienen resultados para mostrar? Una querida consultora repetía "walk the talk", esa es la mía.

While compensation is important to keep employees motivated, employee recognition plays an even bigger role. I have often been faced with situations where budgets were tight and salary increases could not be granted. I have managed to retain talented employees by ensuring their job satisfaction was high, that they felt recognized broadly for their contributions and most importantly by showing that I cared for their development and well being. Simply, being a caring and supportive boss …

More than just performance feedback, employees yearn for acknowledgement & recognition in their community & peers. So definitely Thank you notes, giving shout outs, small rewards or incentives creates an environment for good performers to be retained.

Beyond performance reviews, thank-you notes, and small rewards, there are numerous cost-effective ways to show appreciation. Additional holidays or time off can be a significant gesture of recognition. Assigning extra or special projects can also serve as recognition, providing employees with opportunities for professional development and demonstrating trust in their abilities. Increasing an employee's visibility to senior management can be a powerful form of recognition, acknowledging their contributions and elevating their profile within the organization. These approaches not only make employees feel valued and appreciated but also cater to their career aspirations and personal work-life balance.

Elogiar em público e corrigir em particular. Praticar feedback é uma habilidade que todo gestor deve possuir e praticar para que suas equipes atinjam alta performance. Um funcionário motivado produz muito além de seus limites, busca cada vez mais desafios e veste a camisa da empresa de forma ímpar. A correção também faz parte do processo e precisa ser encarada com maturidade e respeito por ambas as partes. Ela deve ser feita de forma a gerar crescimento e evolução, se não for para isso, é melhor não fazê-la. O reconhecimento é muito importante para reforçar os pontos positivos, seja de forma monetária ou através de premiações, reuniões de reconhecimento, folgas, etc, porém, o mais importante é não deixar de reconhecer e valorizar.

Retroalimentación y reconocimiento son pieza clave del rol del líder, sin bien es algo frecuentemente nombrado la realidad es que en la ejecución del día a día los líderes se enfrenta a la dificulta que ambos procesos implican. Vivimos en una sociedad donde pocas veces pensamos en los procesos humanos con interdependencia (concepto básico en la filosofía budista) pocas veces nos enseñan que para lograr retroalimentación y reconocimiento genuino y con impacto como líderes debemos conectar con otros procesos humanos como el generar confianza, abrir conversaciones retadoras o atrevernos a conectar con el otro desde la parte humana. Romper la barrera de acciones como estas es un reto que día a día los líderes deben enfrentar.

La compensación no es únicamente económica. Hacer un plan de carrera y ayudar a las personas a prepararse a dar su siguiente paso con mentoría/capacitación/recursos dedicados es una gran forma de ayudar a los colaboradores a crecer y a tener satisfacción y compromiso con la empresa. Invertir en aprendizaje siempre tiene ROI positivo.

Offering opportunities for professional development signals to your team that their journey within the organization is not merely transactional but a continuous investment in their skills and potential. This commitment to growth fosters a sense of loyalty and engagement, as employees recognize that their contributions are integral to the company’s success. Individuals with a long-term view prioritize skill acquisition, knowledge expansion, and career progression over quick, short-lived incentives. By emphasizing growth opportunities, you attract individuals who are not only dedicated but also see themselves as integral parts of the company’s future.

El interés genuino en la persona , parte en contribuir a su crecimiento. El conocimiento es fundamental + promover la acción. Pensar y hacer , es un ejercicio que multiplica valor .

Learning and developmemt should be central to any forward thinking organisation. It also indicates that the organisation is committed to the development and growth of their staff which in turn motivates them to be committed to the organisation. You should also take into cognisance their personal goals and assist them professionally to attain them

L&D is a great way to help people feel supported. In a small business, or where budgets are tight this can be as simple as allowing people to request work relevant books from Amazon, or low cost online training courses. Even just offering access or pointers to online resources can create a powerful positive effect even when people don't actually take it up! So make sure whatever you do, you tell people about it, and regularly reinforce the message that it's available. As well as promoting any good news stories from people who've benefited from your initiatives.

In my humble opinion, the culture of the workplace should mainly and primarily be a peaceful and accommodating place where employees should feel that they are treated fairly and where their work efforts should be equally compensated, recognized, and appreciated. And that all have the same opportunity to learn and grow. however, all the calls for a workplace that feels like a family culture, or even promotes colleagues as being friends are a bit misdirected in my opinion. We come to the workplace to mainly work, develop, and grow. If we make friends or family along the way that is a bonus. but it should not be something that a company culture should be built upon.

Positive culture is built on transparency and honest communication between management and employees Giving regular feedback to employees will help them in understanding and supporting management with its decisions

Das größte Problem sehe ich in destruktiven Prozessen oder Mitarbeitern. Oft sind es nur Kleinigkeiten oder einzelne Personen, die dazu führen, dass die Belegschaft demotiviert ist. Finde und behebe demotivierende Arbeitsprozesse. Was nervt das Team, worauf hat keiner Lust und wovor drückt sich jeder? Gibt es unmotivierte Kollegen? Deren Stimmung ist ansteckend. Geholfen ist niemandem. Suche das Gespräch und finde Lösungen. Auch getrennte Wege gehen, kann für beide das beste Resultat sein. Habe keine Angst vor diesem Schritt

This is very powerful, in my experience leading 2 businesses I have noticed that having a positive culture has longer impact on employees than financial benefits. Financial benefits are great (I recommend it) however it’s usually provide short term motivation for teams. An employee spends about 40 hours of their active time working, it just makes sense to ensure they truly enjoy what they are doing.

The single most effective way of retaining your people is to show that you „truly care“ for them 1 to establish a caring culture! That means you need to recognise the person with its aspirations, worries and needs (vs. Just the function the specific person represents). So, get to know your people in detail - engage in meaningful, heartfelt conversations and act on their needs - if it is flexibility or curiosity or whatever. A wonderful tool is a yearly career conversation where you learn about your people’s motivations and architect their jobs/ responsibilities towards succeeding in the relevant dimensions. Because progress towards your personal goal does not only give purpose but makes you happy!

Treating employees as the most important asset that contributes to the company's growth and profit is the Root Cause to develop a strategy that meets the inquiries of employees in alignment to the company's goals.

Vorschlagsboxen im Sinne von KVP sind ein gutes Instrument, ebenso wie die Integration der Bedürfnisse in ein tägliches Shopfloormanagement (Ticketsystem MA Anliegen). Generell sollte einmal jährlich eine Mitarbeiterbefragung den globalen Überblick über den Fortschritt liefern (kontinuierlicher Prozess). Individuell sollte neben dem jährlichen, dokumentierten, MA Gespräch durch den Mentor auch ein regelmäßiger Abgleich der im Entwicklungsplan vereinbarten Ziele erfolgen. Insbesondere da sich die Ausgangssituation für das Unternehmen und den Mitarbeiter während der Zeit häufig ändern.

Leaders who listen to the comments of their team members and implement the ideas that the members propose, contribute a lot to talent retention. If the ideas that are proposed are valid and help solve a problem, they must be implemented quickly and credit publicly given to the person who suggested this idea. This recognition is sometimes more valued than a financial award, especially if there is no budget.

Escuchar a los trabajadores es fundamental para lograr un ambiente positivo. En general no demandan cosas imposibles y en la mayoría de las ocasiones solicitan cosas básicas o elementales. Tratar de satisfacerlas, cuando redundan en beneficio de la mayoría, especialmente cuando los salarios son bajos debería de ser un objetivo para mantener la fuerza laboral.

Siempre escucha la voz de tus colaboradores, pide su opinión y consejo. Se humilde y aprende siempre de los demás. Lidera con ejemplo.

Einer der größten Killer von Mitarbeiterzufriedenheit ist Micromanagement. Wenn ich meine Mitarbeiter stets kontrolliere und keinen Freiraum für die Entwicklung eigener Ideen und Lösungsansätze zulasse, suggeriere ich automatisch mangelndes Vertrauen gegenüber der Arbeit meiner Mitarbeiterin oder meines Mitarbeiters. Wenn die intrinsische Motivation vollends zum Erliegen kommt, folgt die Fehlervermeidungsangst. Es wird sich nicht mehr auf das „wie kann ich das Problem lösen“ konzentriert, sondern nur noch darauf geachtet bloß keinen Fehler zu machen und somit den Weg des geringsten Widerstandes zu gehen. Führungskräfte müssen daher ein integratives Teamumfeld schaffen in dem Fehler erlaubt sind - und man aus diesen lernen kann.

Be the leader you’d like to have. The correct balance between business objectives and personal goals is one of the most effective ways to engage your team. Take care of your people as a Leader and they Will take care of the business..

Hier gibt es einen großen Vorteil kleinerer Unternehmen: lassen wir Fehler zu und erlauben auch das Scheitern. Loben sie den „Fehler des Monats“ aus! Was zunächst verrückt klingt, führt kulturell dazu, dass Mitarbeiter lernen, Risiken zu managen und nicht zu vermeiden. Verhalten zu erklären statt zu rechtfertigen. Und last nit least: aus Fehlern lernen-es müssen nicht unbedingt die eigenen sein ;-)

Empowering employees is the strongest asset of an organization; it will gain speed, agility and efficiencies by hacking unnecessary bureaucracy.

Empower and challenge your employees to be the best they can be Empower them to "stop" the line if needed without penalty. Create an environment where mistakes are not always penalized. Mistakes occur to make us better. We learn from mistakes and improve. Let them know that you have their back and will stand with them. If they know they are supported and won't always be penalized they are more willing to speak up when mistakes happen. Lead by example and they will follow.

En mi experiencia la retención de talento se logra cuando los colaboradores perciben su valor y aprecio en la organización, cuando encuentran desafíos y significado en su trabajo, cuando sienten que contribuyen a los objetivos de la empresa, cuando son reconocidos, incluso en las fallas donde se les da retroalimentación positiva. Cuando se los mide en base a objetivos y no por su tiempo en la oficina, logrando un equilibrio vida personal y laboral. Así mismo, un programa sólido de mentorías, que genere un flujo constante de aprendizaje y desarrollo, combinado con un buen entorno laboral, colaborativo, sin rivalidades, impulsa y motiva el compromiso de los colaboradores con la organización.

Provide clear purpose. Make sure every single staff member knows how their work contributes to the bigger picture. People want a purpose to why they come to work.

Explore common goals and make shared commitments to achieve them. Give employees room to manoeuvre and make mistakes, everyone works differently. Empathy, purpose and vision.

Retenção de funcionários está intrinsicamente relacionado a senso de pertencimento. A organização deve possuir uma cultura que proporcione ao funcionário o sentimento de dono. A partir do momento que o profissional vê que o trabalho que ele executa está agregando valor para a empresa, para a sua família e para a sociedade, ele escolherá ficar, tanto nos momentos de prosperidade quanto nos momentos de crise.

Maximising employee retention within budget constraints demands an integrated approach across the entire business, that breaks free from traditional norms. Flexibility of internal procedures, as well as offering flexible hours, is paramount. Explore remote work feasibility for example, to free up significant budget, and re-allocate to occasional in-person gatherings. Redirect resources to enhance training, IT tools, or innovative workspaces for improved collaboration and productivity. Embracing adaptability across functions enables tailored strategies, aligning with diverse employee needs and fostering a culture where retention thrives despite budget limitations.