Matthew Wride

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Implement these strategies to build stronger team morale and loyalty in 2024. In today's marketplace, when it comes to attracting and retaining staff members who want to invest their time and services for the long term, trust and transparency are required every step of the way. In addition, it's even more important to ensure that potential employees and employers are in alignment during the hiring process to begin with. Fostering a workplace culture that encourages regular team communication empowers staff members to voice any concerns as needed and feel recognized when they make a valuable contribution to help their department or company move forward. Below, experts fromFast Company Executive Board share 16 strategies to help employers improve employee retention rates in the coming new year.

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While most leaders try to use open-ended questions when talking to employees, too often their questions are overly general. Hence, they fail to produce the desired results.

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Apply these tips to foster improvement in your business products and services. It's important to keep your eye on the prize when you're running a business you want to see survive. But, it's not always easy to outdo your company's biggest achievements, or implement needed improvements, year after year—especially in a tight economy.  Despite reality, however, whether your company was able to move the needle forward by an inch or a mile to reach its bottom line this past year, it's essential to highlight each moment. By doing so, you'll be able to boost employee morale and heighten productivity among your loyal team members. Here, 15 members of Fast Company Executive Board share one new thing they've already implemented or are excited about doing in the coming year to enhance their business image, company core values, and work culture!

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If you're thinking about hiring an executive coach, consider these six things to fully maximize your coaching's value.

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20 tips to set your new company up for success in the marketplace. As a company leader, you may be confident about your organization's ability to meet consumer demands and thrive at meeting your quarterly goals on a regular basis right now. But if you don't have a systematic approach to coming up with ways to keep your business financially fit, you'll be setting your company and team up for failure in the event of unforeseen circumstances. For example, an unsteady economy. Your numbers may look good on paper but regulating your KPI metrics in real-time is essential to generate a true measure of financial success.  Below, 20 Fast Company Executive Board members share one piece of advice that aspiring business leaders or small business owners should consider when it comes to understanding the importance of financial management and planning for longevity in any industry.

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14 tips for business leaders aiming to reframe a culture of adaptability at the office. For a company to remain competitive and survive in today's marketplace, its leaders must be willing to fully embrace what it means to build a culture of adaptability among a diverse workforce and live up to its own expectations. Improving the company's culture won't happen overnight, but if leaders begin to gather and share employee success stories and transformative behavior patterns, doing so will plant the seed of change for the better. In turn, top talent will be more likely to take a second look at potential career opportunities at the prospective company. Here are 14 suggestions from Fast Company Executive Board members that can lead to a better work environment and a desire to change.