Greater Cheyenne Chamber of Commerce Business Journal Q4 2014 | Page 47

Issue Sponsor: MOUR COMMUNITY Masjedi also recommends keeping employees informed about how the company is doing. “High performing employees want to know what is going on in the company they work for,” he says. “It can seem simple, but small business owners can increase retention rates by being transparent with everything they do, where the company is headed and ask for, and listen to, feedback.” King agrees on the importance of transparency, especially when it comes to discussing salaries and why raises might not be possible. “I provide a full disclosure to demonstrate my total commitment to employees,” says King. “I often detail the overall spending habits of the company and talk about what makes us money and what doesn’t. I really try to show the importance of doing smart work. The employees instantly recognize the monetary difference of re-work and poor planning.” Provide little perks for big payoff A well-stocked office kitchen or organized afterhour outings cost little, yet create a harmonious atmosphere. A few perks that don’t cost money: having a casual dress code and easing certain business policies, such as an allotted number of vacation days or traditional management hierarchy. The result is an enjoyable work environment that is much harder to leave. “We have casual dress every day, unless an employee is meeting with a client,” says King “We also offer lots of coffee, water and other beverages in the office and also keep a supply of healthy snacks for consumption.” Medved’s company recently did away with its formal vacation policy, allowing employees to take time off whenever they need it. “We ask that everyone notify their managers when they’re planning to take time off, or work from home. That way we can make sure things get covered, and everyone on a team isn’t out at the same time,” says Medved. Capterra utilizes a company-wide Google spreadsheet with a row for each person, where each column is a month. Each employee lists which day(s) of that month they will be out, with a “half” next to it if it’s a half day, or a “WH” next to it if they’re working from home. “So far it’s worked great,” Medved says. “We think freedoms contribute to an environment where people feel like they are treated like adults, and therefore are more likely to be committed to their work and the business.” Be a part of the schmooztastic fun event! During Business Week Presented by Tuesday, November 4th, 2014 Feature your business at the Annual Business to Business Expo! RESERVE YOUR BOOTH TODAY Contact the Chamber at 307-638-3388 or visit www.cheyennechamber.org for more information Q4 2014 BUSINESS JOURNAL l PG 47