3 tips to Hire & Retain Talent for Your Small Business

Are you looking to build a strong team and retain top talent at your small business? Irene Shiang Li , founder of Mei Mei Dumplings — a small business that has evolved from a brick-and-mortar restaurant to a larger factory, cafe, and community space — has successfully managed talent retention at her growing business. She shared these three key tips for employee management and leadership as a panelist at Ladies Who Launch's 2022 Resilient Leadership Summit.

? Share your company values and create transparency for your employees

When it comes to hiring, Li emphasizes the importance of transparency. It's essential to clearly convey your company culture and values to attract the right candidates. Look for individuals who share your passion, even if they don't perfectly match the job requirements initially. With effective onboarding, they can blossom into an ideal fit for your unique business needs!

“We’re trying to train everybody to understand that their actions are part of the big picture and that they make a difference in the business,” Irene shared. “And that has been something that totally changed the way I relate with my team and helped us get on the same side of the table.”

? Balance retention and growth by knowing when to let go

Finding the right equilibrium between keeping employees and encouraging growth can be challenging. According to Irene, while retention is important, it's not always beneficial for the organization to keep someone in the same position indefinitely.

“Retention for the sake of retention is not what we’re trying to achieve,” Li explained. “It’s working the fit as long as you have it. And then of course giving somebody a soft landing, a great recommendation, to go somewhere else, that’s some good karma that circles back when you go to recruit again.”

? Encourage employee growth and development

Retaining top talent means fostering their growth and development. It's crucial to understand each employee’s aspirations and connect them with resources, even if it means supporting their journey outside of your company.

“Understanding what everyone’s pathway is or what they would like it to be whether that has to do with food or not. What are their dreams and goals and maybe we can’t help them but maybe we have a guest who comes in….finding the right resource for them and being okay with the fact that maybe more often than not it’s going to be outside of our company and moving them along that path.”

By implementing Irene’s advice, you’ll be on your way to creating a work environment where your team feels valued, inspired, and motivated to grow alongside your business.

??Learn more from Irene Li by watching the panel: Hiring & Retaining Talent

Do you have some go-to tips for hiring & retaining top talent? We’d love to hear them! Let us know in the comments!