7 Employee Retention Practices to Implement in Your Elevator Business

As elevator business owners, operators, managers, we know what truly gets the job done. We can credit the technology and the way our information flows, but at the end of the day, it’s our people that are providing excellent service to keep customers coming back. You’ve heard it before, so I’ll say it again — your people are your greatest investment. So, invest in them! Invest in their education, their personal growth, and their professional development. 

We should always be researching best practices to refine our processes of hiring and onboarding our employees. But what about once the training is over and the dust has settled? Too often, we get caught up in the mix and may forget about the personable aspect of our businesses. Yes, we are here to service customers and get the job done, but what about our peoples’ needs? Are we serving them properly? 

Let’s discuss my 7 best practices for employee retention in the elevator industry. 

1. Prioritize Transparent Communication 

One of the simplest yet most effective retention strategies is clear, honest communication. Employees want to feel heard and valued. Experiencing consistent communication will build trust with them. 

• Regular Check-Ins: Schedule one-on-one meetings to discuss their challenges, goals, and overall satisfaction in their role. 

• Team Meetings: Keep everyone in the loop about company updates and celebrate your team’s successes. 

• Anonymous Feedback Channels: Implement a suggestion box or anonymous surveys where employees can voice concerns without fear of judgment. Employee-provided feedback can be one of the best ways to realign your retention strategy. Feedback is always necessary. 

2. Competitive Incentives and Recognition 

Nothing motivates and retains employees like feeling valued for their contributions. Incentives and recognition go hand in hand. You want to create a workplace where employees feel appreciated and rewarded. 

• Performance-Based Bonuses: Offer bonuses for achieving specific goals, like completing projects ahead of schedule or maintaining a stellar safety record. 

• Tool and Equipment Allowances: Provide stipends for tools, workwear, or other job essentials. Show your employees you care about their comfort and efficiency. 

• Milestone Celebrations: Celebrate service anniversaries or project completions with personalized rewards. This could be in the form of gift cards, paid days off, or commemorative items. 

• Spot Recognition: Recognize individual achievements in real time with simple gestures, like shoutouts during team meetings or thank-you notes. 

You’d be surprised how often employees remember those small moments. It’s a great way to create a positive workplace culture. 

3. Career Growth and Development Opportunities 

Employees are more likely to stay if they see a future within your company. Loyalty is earned and by providing an employee with a clear path to advancement and educational opportunities to learn, you can foster this loyalty. 

• Internal Promotions: Prioritize internal candidates for upcoming leadership roles. You want to set the bar and show your employees that you value hard work in-house. 

• Skill-Building Workshops: Host training sessions on a number of topics and incentivize employees who participate. 

• Tuition Reimbursement: Support employees pursuing certifications, such as Qualified Elevator Inspector (QEI) or project management courses. 

• Mentorship Programs: Pair junior employees with seasoned pros to encourage employee relationships and shared mentorship. 

All of these are about creating longevity. I remember creating an incentive program at Madden Elevator for employees that could pursue training education in the elevator industry if they wanted to. For every completion, I offered a raise. I did this to show how much Madden Elevator values continuous learning and that hard work should be rewarded. 

4. Cultivate a Culture of Appreciation 

Retention doesn’t always come down to money—sometimes, it’s the little things that make a big difference. Creating a culture where employees feel consistently valued can improve morale and loyalty. 

• Team Celebrations: Organize company outings or lunches to celebrate major accomplishments. The holidays are a great time to bring everyone together and celebrate another year in the books for the team. 

• Personalized Appreciation: Take the time to acknowledge employees individually with a handwritten note or a quick conversation. I make it a point to give at least one genuine compliment a day to an employee. It could be about how great their new haircut looks, how quickly they completed a project, or just how great of a job they’ve been doing and to keep it up. 

• Flexible Perks: Offer options like remote work for administrative staff, flexible schedules, or early leave days to support work-life balance. This may not always be feasible but keeping an open mind to possibilities is key. 

5. Support Employee Well-Being 

Employee satisfaction goes beyond the job itself—it also includes their overall well-being. Showing that you care about their mental, physical, and emotional health demonstrates that your company values them as people and not just cogs in a machine. 

• Comprehensive Benefits: Provide health insurance, retirement plans, and paid time off that reflect the needs of your workforce. 

• Wellness Initiatives: Offer gym memberships, wellness stipends, or access to mental health resources. This is a big one that is often overlooked. Overall employee wellness should always be taken into consideration. 

• Burnout Prevention: Encourage employees to take time off and ensure their workloads are manageable to reduce job stress. Life can be difficult sometimes and we don’t want to encourage burnout by not having a positive workplace culture. 

6. Reward Longevity and Loyalty 

Retaining experienced employees saves you the time, effort, and cost of constant recruiting. Rewarding longevity shows your appreciation for those who stick around and contribute to the company’s success. 

• Tenure-Based Bonuses: Offer bonuses or additional perks at milestones like 5, 10, or 15 years of service. This is a big accomplishment and should always be acknowledged. 

• Loyalty Rewards: Provide benefits that grow over time, such as increased vacation days or enhanced retirement contributions. 

• Custom Recognition: Celebrate long-time employees with personalized gifts, special events, or public acknowledgment of their service. 

7. Combine Financial and Emotional Rewards 

The most effective retention strategies blend tangible incentives with an appreciative workplace culture. The goal is to create a company where employees stick with you for the long haul. You can do this meeting two things — their emotional and financial needs. 

• Show You Care: Include personable gifts with monetary rewards. 

• Be Consistent: Make recognition a regular part of your culture and not just an occasional event. 

• Involve the Team: Encourage employees to recognize one another through peer-nominated awards or group acknowledgments. Determining your workplace culture starts with getting everyone involved. 

At the end of the day, keeping your employees happy and engaged isn’t just good for them— it’s good for your business. Retaining great people is about building a workplace where they feel valued, supported, and proud to show up every day. 

Take a step back, look at what you’re already doing, and see where you can step it up. Remember, your people are your greatest investment. Invest in their happiness, health, and future, and you’ll see the benefits reflected in your business's success. 

If you’d like to hear more about HR, employee retention, and creating a memorable workplace culture, check out my latest episode of The Elevator Entrepreneur with Anita Seymour of Expert Service Solutions. 

As always, stay safe out there, and I will continue to empower my fellow elevator entrepreneurs.