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10 ways to keep good employees

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While smaller businesses may not be able to offer educational scholarships, home loans, company stocks or other pricey incentives to recruit top millennial talent, they can do some of the things these companies do. I know many of us share the challenge of managing young millennials, either as parents or as bosses — but the key to this new generation isn’t to manage, but to motivate.

In fact, Daniel Pink, in his book “Drive: The Surprising Truth About What Motivates Us,” suggests there are three primary motivators of human behavior: Purpose (“I’m attached to something bigger than me”), autonomy (“I have the ability to do it myself”), and mastery (“I have the ability to learn and grow”).

With these motivators in mind, here are a few suggestions:

1. Promote philanthropy in your office.

2.  Offer group discounts for gym memberships. Encourage teams to hold meetings and tie them to a healthy activity.

3. Care about your customers.

4. Build an incentive plan that works within your budget.

5. Long work hours can’t be avoided, but if there’s a slower period in your business, shorten hours and cover some to-do items on your own to give your employees some extra personal time.

6. Offer to mentor an employee one-on-one to get them to the next level in their career.

7. Offer open work spaces.

8. Surprise employees that go the extra mile with bonuses, random days off, or excursions – nice surprises for doing the right thing.

9. Be a visionary.

10. Act like a leader