One of the most consistent themes we’re hearing from clients at the moment is the challenge of finding and keeping good people. It’s rarely about a lack of effort — most business owners are doing their best — but the market has changed, and retention now requires a more deliberate approach.

In our experience, retention starts with engagement. When people feel genuinely connected to the purpose of the business and understand how their role contributes to its success, they’re far more likely to stay. Regular, meaningful conversations — not just performance reviews — help reinforce that connection and build trust over time.

Culture also plays a significant role. Strong teams don’t happen by accident; they’re shaped by the behaviours that are tolerated and the standards that are consistently reinforced. Addressing misalignment early and fostering a culture of respect and accountability creates an environment where good people want to remain — and where new talent is naturally attracted.

Work–life balance has become another key factor in retention. Businesses that acknowledge the realities of personal commitments and mental wellbeing tend to see stronger loyalty and productivity. Flexibility, where possible, is no longer viewed as a “perk” but as part of a sustainable workplace.

We also see retention improve when employees can clearly see a future with the business. When growth opportunities are visible and development is discussed openly, people are more inclined to invest their energy and skills for the long term.

Finally, remuneration still matters. While pay alone won’t solve retention issues, falling behind market expectations can quietly undermine even the strongest culture. Thoughtful compensation structures, recognition, and small but meaningful benefits often make a bigger difference than many businesses expect.

A final thought: Retention isn’t just about keeping people on the payroll. It’s about building an environment where people feel valued, supported, and aligned with the direction of the business. If you’d like to assess how your current approach stacks up, our free Team Attraction and Retention Diagnostic is a simple way to gain clarity and identify practical next steps.

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Please also note that many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. Should you have any further questions, please get in touch with us for assistance with your SMSF, business, bookkeeping and tax requirements. All rights reserved. Based on content from Mindshop, a trusted resource for business advisors worldwide. Liability Limited by a scheme approved under Professional Standards Legislation.