7 Tips for Attracting and Nurturing Talent in Your Business

November 2, 2022

Why is attracting, nurturing, and retaining talent a top priority for small businesses? In short, good employees are hard to find, and replacing them can be costly.

In 2021, in the wake of the COVID-19 pandemic, approximately 47 million people quit their jobs to work elsewhere or leave the workforce altogether. The quitting trend has continued into 2022.

According to the U.S. Bureau of Labor and Statistics (BLS), 4.2 million people quit working at their current job in July 2022. These employees may have left to work for competitors or pursue a new profession.

Some call this quitting trend the “Great Resignation” or the “Great Attrition.” By any name, though, this talent shift has changed the hiring game. It highlights the importance of having employee benefits and policies that can help you attract, nurture, and retain talent in your business.

Some estimates conclude that the cost of adding a new employee is as high as double the cost of an employee’s annual salary when factoring in potential costs like recruitment agencies, position advertising, under-sourced days, morale, and other factors — along with the more obvious cost of HR employee time and employee onboarding. Worker shortages may also mean finding someone new takes longer, and candidates may ask for higher salaries.

So, what can your business do to attract and retain top talent? Below, we share a few tips from the Forbes video “Attracting And Nurturing Talent”, which features advice from CEOs of two successful “purpose-driven” companies: “Gear for Good” Cotopaxi and eco-conscious product-maker Blueland. You can also watch the full video here.


1.     Be Clear About Your Company’s Mission, Vision, and Values

One advantage of having a purpose-driven business is that it can help employees find more meaning in their work. Cotopaxi founder and CEO Davis Smith says it is easier to retain your talent “... because they want to continue to be a part of something they really believe in.”

Sarah Paiji Yoo, co-founder and CEO of Blueland natural cleaning supplies, suggests that small business owners “be very clear about your mission, your vision, and your values” from the very beginning of any new employee’s journey. Paiji Yoo also suggests that new business owners take the time to share that vision directly with new hires to walk them through the importance and value of the company mission.

2.     Implement a Buddy System or Mentor Program for New Employees

Another way to help new employees be successful within a new organization is to implement a buddy system or mentorship program. This helps new hires acclimate more easily to the job and welcomes them into a positive company culture.

A buddy or mentor can help with basic day-to-day questions and build relationships, while also offering a peer resource for new hire questions.


1.     Connect New Hires With Top Management Early

At Cotopaxi, CEO Davis Smith conducts the final interview with any new applicant so he can connect directly with potential hires from the beginning. Meeting an organization’s top management or founders helps new hires feel connected to company leadership and provides a deeper connection to the organization’s purpose.

Smith says, “It’s not so much about vetting … it’s an opportunity to tell them why we exist. We don’t exist to sell backpacks or jackets, we’re an organization that’s focused on changing capitalism.”

2.     Reevaluate Your Company Benefits

Don’t be afraid to reevaluate benefits packages for your team. Great ideas can be made even better when leadership pays attention to how each benefit is working for its employees.

For example, people initially considered unlimited paid time off (PTO) a popular benefit offering. But research shows that individuals take less time off with an unlimited PTO policy than with standard vacation days.

Paiji Yoo said the feedback she received was that “unlimited PTO would put pressure on team members to know what was an ‘OK’ amount of time to take off.” As an alternative, Blueland has a generous vacation policy, including two “civic-duty days,” two floating holidays, and four “summer Fridays.”

3.     Encourage Staff to Take Breaks Outside During the Workday

Taking occasional breaks in your workday can be beneficial for both employee health and the company’s bottom line. Allowing your team time to switch from “doing to being” helps to calm their central nervous system and returns it back to its baseline state. Breaks at work can also boost employee morale, reduce aches and pains, and improve creativity.

Cotopaxi encourages breaks with an initiative called “10% in the wild.” Employees are encouraged to spend 10% of their workweek doing things outdoors — like biking or hiking. With a shared love of the outdoors, Cotopaxi employees often do these activities together.

And when the COVID-19 pandemic hit, Cotopaxi encouraged teams to take virtual hikes together, offering an invitation to dial into a video call where teams could walk their dogs or take a walk together virtually to encourage team bonding and reinforce the need for breaks in the workday.

Similarly, Blueland sets aside two hours each week for “Power Hour” — a time without meetings when teams are encouraged to take a break, go for a walk, or do something that can help them decompress.

4.     Proactively Encourage Work-Life Balance

There are significant benefits to encouraging an appropriate work-life balance for your employees. Companies have reported that finding the right balance can help lead to lower employee turnover, reduced employee stress and burnout, lower absentee rates, and even lower health care rates.

With so many clear benefits for both companies and employees, it’s a good idea to proactively encourage team members to find the right work-life balance for them. One way for leaders to encourage the right balance is to take time off themselves.

Founders Paiji Yoo and Smith try to set the tone for balance by not sending company emails on the weekends or late at night. If they’re working late, they schedule emails for regular office hours so there’s no expectation for teams to watch for emails at all hours of the night.

For some people, attaining the right work-life balance means having the ability to work from home, particularly for millennials and younger talent. That’s one reason it’s so important for team members to have the ability to collaborate both in person and virtually.


7.     Allow Employees to Work During Their Best Hours

One of the benefits of a flexible schedule is that employees can do their work on a schedule that works for their lifestyle. Employees with children may prefer taking time off in the middle of the day to pick up kids from school and drive them to their after-school activities. Some parents may find that they have better-quality focus time for work after their children go to sleep for the evening. Offering a more flexible work schedule whenever possible empowers employees to work during their most productive hours.

CEO Davis Smith sets expectations by letting his team know that he works when it’s best for him, and he wants his team to feel liberated to do the same with their own schedules.

Watch the full discussion of Cotopaxi CEO and founder Davis Smith and Blueland co-founder and CEO Sarah Paiji Yoo to learn more about how to attract and nurture talent in your small business.

Want to hear more from Sarah and Davis about their approach to leadership? Check out their tips on using collaboration to maximize productivity and creating a great company culture.


About the Author

Jennifer Andrews is a digital nomad with 20 years of experience writing about marketing, business, and technology. Her greatest satisfaction is helping new businesses blossom online.

All content provided herein is for educational purposes only. It is provided “as is,” and neither the author nor Office Depot warrants the accuracy of the information provided, nor do they assume any responsibility for errors, omissions, or contrary interpretation of the subject matter herein.