Small Biz Catalyst
Hello and welcome to Small Biz Catalysts. This show is for struggling small business owners who want to be able to earn a consistent 6 figure salary from their businesses and the economic development professionals who support them.
Explore with us as we delve into innovative strategies, success stories and actionable insights to empower small businesses as catalysts for economic resilience.
Your host, Ayisat Abilogun is a Certified Entrepreneurship Development Professional and the CEO of Financial Leadership Club of America.
Ayisat loves helping small business owners stay resilient so that their business can move past stagnation to growth phase.
In the last 5 years, Ayisat has empowered over 20,000 students and business owner through financial leadership courses, workshops and curriculum.
Let's help your business move from wistful to wellspring.
Stay with us as we delve into today's topic.
Small Biz Catalyst
#39: 3 key things a small business owner could do to find & retain good employee
In this episode of Small Biz Catalyst, host Ayisat Abilogun discusses the challenges small business owners face in retaining good employees. She emphasizes the importance of creating a positive work environment, offering growth opportunities, and providing competitive compensation. Ayisat also highlights the value of employee referrals and shares information about grant opportunities for small businesses, particularly in rural areas.
Grants & Resources:
Thomas M., Helen McKee & John P. Ryan Foundation
Maximum Grant: $500,000
Deadline: February 1st, May 1st, August 1st, and November 1st by 12:00 pm
Guidelines and Application: Guidelines For Grants — Ryan Foundation
https://www.ryanfoundation.com
Takeaways:
- Creating a positive work environment fosters employee loyalty.
- Regular feedback and recognition enhance job satisfaction.
- Opportunities for growth can be horizontal, not just vertical.
- Competitive compensation includes flexible work hours and benefits.
- Investing in employee wellbeing improves overall morale.
- Virtual training options are available for remote teams.
- Employee referrals can be a powerful recruitment tool.
- Grants can support microenterprises in rural areas.
- Technical assistance is crucial for small business growth.
- Engaged employees contribute to a thriving business culture.
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