MSP Business Tips to Help Increase Employee Retention
As an MSP business, your most important assets aren’t defined by hardware, software, and your edge in the local market. Though these things all play a big role in your overall success, the biggest thing that will make or break you are the human resources which comprise your operational team.
But tech is a hard industry, and some MSPs have higher rates of turnover than are strictly necessary. Following are several tips to help you protect that most important of assets: your employees:
Provide a Clear Career Path
Your MSP business will likely spend $100k+ on a basic employee over the course of several years. Taxes, training, scouting, workspace, travel, the equipment they use, etc.
The longer you keep an employee with you, the greater value they bring your company. In turn, the greater their personal position becomes, and the greater their own paycheck— if you’ve built them a clear career path.
When employees know they’re working toward something, they’re more likely to stick with you and help you mature your investment in them.
Don’t Ignore Employee Input
Sometimes you’ll find nuggets of operational wisdom that save time and money for everyone through employee input. Sometimes their ideas are terrible, but by listening, you give them validation, which increases productivity and operational effectiveness going forward. Always listen to employee input.
Facilitate High Levels of Operational Transparency
Employees are less likely to get spooked they’ll lose their job in a merger or an instance of downsizing if you run operations as transparently as possible. Give them peace of mind and you’ll keep them around longer. Transparency can do that for your operation.
Your MSP business can reduce retention through operational transparency, considering the input of those on your team, and providing employees a clear career path. Expanding retention levels is key; these are just a few of many techniques worth considering toward this outcome.