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5 Best Practices for MSPs to Retain Top Talent

5 Actions MSPs Can Take to Retain Top Talent

5 Actions MSPs Can Take to Retain Top Talent

With unemployment as low as it is in the technology space, MSPs are having a difficult time not only finding top talent but retaining it. While this isn’t good news for MSPs, they can overcome this HR challenge by simply putting their employees first.
The truth is this: employees typically don’t feel appreciated by their employers. Nearly 60 percent of employees believe their companies care less about how they treat their people and more about profits or revenue, according to data published by Randstad US in 2018. Employees begin looking elsewhere when there are more reasons to leave than stay.

Here are some actions you can take as an MSP to retain top talent.

Express Gratitude Every so Often

How often do you go out of your way to show your employees you’re grateful for what they do? Do you thank them for delivering outstanding results to your clients? Do you ensure that your employees are taken care of during times of need? Simply hosting an annual company day event isn’t enough.

You don’t have to go above and beyond to keep your employees happy — just show you appreciate them. More than 80 percent of employees are motivated to work harder when their bosses show appreciation for their work, according to a 2013 study released by Glassdoor. Employees want to know that what they do matters, and often they just want to know that you actually care.

Treat your employees like human beings instead of expense items by being empathic and kind. Show compassion and, above everything else, remember this: a simple “thank you” can go a long way.

Provide Opportunities for Employee Growth and Development

Employees want to know there’s room for growth. Sometimes career paths aren’t as clear as they should be. If this is the case, it’s your responsibility as a business owner to highlight them for your employees. While you may not have all the answers right away, you can at least provide direction and offer development opportunities. Keeping employees in the dark about their career paths is dangerous, and it oftentimes leaves them wondering about their future with you, which you can avoid if you create a culture of open communication in your organization.

Further reading Want to Keep Your Employees Happy? Ask Yourself These Three Questions

Create a Culture of Open Communication

By creating a culture of open communication, you not only earn respect but develop trust with employees. People like to be in the know. Employees begin to get worried when there’s uncertainty; and when they’re unsure of where they stand within your organization, they start looking elsewhere.

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Plus, open communication is vital to business success. Eighty-six percent of employees blame lack of collaboration or ineffective communication for workplace failures, according to the results of a 2011 study released by Fierce, Inc. Open communication in your workplace enables you stay on top of what’s going on in your organization and empowers employees by encouraging them to speak up. Some employees may view your open-door policy as a company perk.

Offer Employee Benefits and Perks

While you may not be able to offer a comprehensive benefits package to your employees, do your best to offer something — even if it means thinking outside of the box. For example, can you offer them flexible work schedules or paid volunteer time? If you’re not sure what your employees want, ask. You might be surprised by their recommendations. What about implementing mentorship programs?

Further reading On Training Employees: Is it Worth the Risk?

Pair Mentors With Mentees if Possible

If you're a small shop, build successful mentoring relationships within your organization whenever possible. This strategy can help you to deliver consistent, predictable, and repeatable results to your clients by reinforcing your company’s processes and procedures.

Developing effective mentorships not only helps your business overall but keeps your employees happy. Employees with mentors at work are more likely to be satisfied with their jobs (91 percent, versus 79 percent), according to a CNBC/SurveyMonkey Workplace Happiness Survey.

Retaining top talent will continue to be a challenge for MSPs, but if they focus on providing their employees with more reasons to stay, turnover is likely to be lower.

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