Staffing issues

by a searcher

4 months ago

Hi all, I own a vinyl flooring company and Im trying to grow it in the uk. Problem is once I've spent two year training someone up, they leave to work for themselves. Any advice?

0 likes
85 views
3 comments

searcher

This is an challenge across all sectors. The lower the barrier to entry, the increased likelihood of trained management leaving to start their own business. The key in my opinion is to incentivize the person to stay by offering them equity in your business. The upside needs to be there for them to stay and so if you help them get what they want, they will stay. It may be 10% equity vested over 5 years or it may be 25%. The point is to figure that out and make them a partner. Good luck.

4 months ago | like reply | 0 likes

searcher

Pay them more.

4 months ago | like reply | 0 likes

More on Searchfunder

Just Closed on My First Deal! Reflections and Takeaways for other Searchers

45,152 transactions are available on Searchfunder (now searchable by keyword)

Now everyone has unlimited IBISWorld access

Family office looking for traditional searchers

Investor seeking Self-Funded Search Deals

2 Best Ways To Find Motivated Sellers, Off-Market Deals

Downsides of "buying a job" below 750k+ EBITDA?

6-7x for a Self-funded Search Deal?

Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.

We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.