BCS: Helping business clients with opportunities and through crises since 1995

How to protect your business from employee poaching

Many exceptional employees start as promising hires that you train and nurture. It takes time, money and effort to help them grow into their roles and fulfill their potential. But what happens when other companies try to lure away your best people? You risk losing your competitive advantage.

Below are four strategies to help you prevent competitors from poaching your employees.

Create competitive compensation packages

Money talks—there’s no denying it. If your employees come to you with an offer from your competitor, match or beat those rates. Consider implementing or improving the following benefits:

  • Performance-based bonuses
  • Profit-sharing programs
  • Health insurance plans
  • Retirement plans

Regular market research helps you maintain attractive salary ranges and benefits packages. Employees who feel well-paid are more likely to appreciate your company and stay even if they receive job offers.

Build meaningful career advancement paths

No one wants to feel stuck in their career—especially high-performing employees. So, show your employees they have a future with you.

Match their ambitions with real opportunities to move up in your company. You can establish clear promotion tracks or offer mentorship and training programs. A defined career path within your organization gives ambitious team members compelling reasons to stay and achieve their professional goals.

Foster a positive workplace culture

Strong work culture helps foster company loyalty. Here are three tips for a more positive work environment:

  • Regular recognition of achievements
  • Flexible work arrangements when possible
  • Open communication channels

Remember, employees who feel valued and connected to their workplace are less likely to leave.

Implement strategic non-compete agreements

Georgia law generally enforces non-compete agreements, but you need to keep them reasonable. Set fair terms regarding duration, geographic scope and prohibited activities. Non-competes shouldn’t hurt your employees’ future opportunities.

Moreover, non-compete agreements are better as a backup plan rather than your main strategy. Your best defense against poaching is having employees who want to stay.

Protecting your talent investment

Yes, other companies will try to hire away your best people. Employee poaching remains a reality in competitive markets. But you can reduce the risk by creating a workplace where employees feel valued and supported.

If your competitors cross any legal lines while poaching, don’t hesitate to consult an experienced business attorney to help protect your business.