The conventional wisdom is that business owners should do everything they can to hold onto their employees for as long as possible to strengthen the skills base of the business and create stability and continuity.
Even if you are a small business owner worried about competing for the best talent in the marketplace, it may sometimes be better for employees to move on, and for you to help them in the process.The nature of some businesses is that the work that must be performed is tedious and mundane, offering few challenges and development opportunities for employees.
Alternatively, the business could entail hard physical labour, or menial tasks that are looked down upon. Whatever the reason, some industries are by their nature subject to high staff turnover rates. This can be a challenge for small business owners as they are faced with the prospect of recruiting and training new employees on an on-going basis, which can be expensive and time-consuming.
Depending on the business, the high degree of churn can potentially destabilise customer relationships, making it difficult to earn customers’ trust and create some level of predictability. Small business owners who find themselves in this situation can decide to be pragmatic, acknowledging that the business is not likely to represent long-term career opportunities for some employees.
However, to retain employees for a decent of your business to there may be some instances where encouraging employees to leave may be in the best interests of your interests.