First came the initial wave in mid-2021, a staggering number of employees left their roles in search of better pay, work-life balance, and purpose. But many hoped this was a blip. A temporary reshuffling caused by pandemic stress and burnout. In reality, The Great Resignation has evolved. It’s not over, it’s become the new normal.
Even now, small and medium-sized businesses (SMBs) continue to face ongoing challenges in retaining talent. Employees are more discerning than ever and are no longer willing to tolerate mediocre management, limited development, or misaligned values.
If you’re wondering how to keep your best people, the ones driving revenue, culture, and momentum, read on. Here are six proven strategies SMBs can implement today to not only hold onto talent but also build a more committed, purpose-driven workforce.
1. Create Clarity and Purpose with Performance Management
Employees don’t just want a job, they want to know their work matters. A structured Performance Management System (PMS) helps employees understand their unique contribution to company goals.
When employees see the direct correlation between their work and the business's success, they feel more empowered and engaged. Integrating tools like OKRs and regular check-ins creates that vital link between strategic intent and personal performance.
What SolasPerform Recommends:
Use goal-setting frameworks such as SMART goals.
Provide regular performance check-ins, not just annual reviews.
Offer tools like the SolasPerform to provide guided reflections on individual impact and future-focused goals.
2. Foster a Culture of Continuous Feedback
Gone are the days when employees waited 12 months for performance feedback. Today’s workforce craves real-time input, wants to iterate quickly, and values ongoing coaching.
A culture of frequent, transparent communication builds trust and helps employees course-correct before disengagement sets in.
Benefits for SMBs:
Strengthened manager-employee relationships.
Opportunities for frequent micro-adjustments in behaviour and strategy.
Improved communication culture across teams.
Implementation Tips:
Train managers in coaching conversations.
Schedule monthly one-on-ones as compulsory, not optional.
Use platforms like SolasOS for dynamic dialogue and progress tracking.
3. Prioritise Career Development and Internal Mobility
Recent studies show employees are willing to leave companies that do not offer visible career advancement. For many, staying is only an option when they can see what’s next.
By investing in employee growth, not only do you build a more skilled workforce, but you dramatically improve retention. Upskilling also builds resilience within your talent pipeline.
Top Career Development Practices:
Formalise career progression paths.
Offer coaching and learning programmes.
Encourage skill-building projects and cross-functional collaboration.
Modern tools like Solas support goal setting aligned with career aspirations, automatically connecting the dots between personal growth and company objectives.
4. Recognise and Reward Contributions Frequently
People stay where they feel valued. Recognition doesn’t have to be extravagant, but it does need to be consistent and authentic.
Recognition builds intrinsic motivation, reinforces desired behaviours, and affirms to employees that they’re on the right track. When paired with fair compensation, it's a powerful retention lever.
Ideas for Effective Recognition:
Peer-to-peer ‘shout-outs’ during team meetings.
Quarterly awards based on company values.
Personal messages from leadership.
Modern performance management tools capture these moments, turning them into lasting artefacts of appreciation.
5. Conduct Stay Interviews, Not Just Exit Interviews
Why wait until an employee is walking out the door to ask why they’re leaving? Stay interviews give leaders the chance to uncover dissatisfaction early, and act before it's too late.
They demonstrate that you care about your people’s experiences and offer valuable insight into how to improve the workplace.
Stay Interview Questions to Ask:
What do you enjoy most about your role?
What would make your work here more satisfying?
Is anything making you consider leaving?
Combine insights with real-time data from your performance system to identify trends and take proactive steps.
6. Create Psychological Safety and Belonging
Retention is not solely about salary, benefits or perks. At its core, it's about how people feel at work.
Do they feel safe to share an idea without ridicule? Do they feel valued, heard, and included? Psychological safety is having a voice. Belonging is knowing it matters.
Culture cannot be outsourced, it must be intentionally built. And it starts with inclusive leadership.
How to Build a Culture of Belonging:
Train leaders in inclusive behaviours.
Facilitate 360-degree performance feedback to understand perception gaps.
Create forums where all voices can be heard and acted upon.
When SolasPerform integrates 360-degree input, it provides a mirror for improvement and a pathway for inclusion.
Conclusion: From The Great Resignation to Great Recommitment
The resignation wave hasn't passed, it’s simply evolved. But with the right strategies in place, SMBs can not only weather the storm, they can emerge stronger.
Retaining your best people depends on your ability to connect, develop, and listen to them. The most successful organisations are those who see performance management not as a process, but as a cultural anchor.
With tools like SolasPerform’s Guided Review Bot, goal setting frameworks, and dynamic feedback platforms, your SMB can build the kind of employee experience that people don’t want to leave, but want to grow with.
Let’s shift the narrative. From exits to engagement. From quick quits to long-term commitment. The Great Recommitment starts here, with you.
Ready to elevate your retention strategy? Try SolasOS today and discover how performance management, done right, can be your greatest asset."