How To Retain Your Best Talent

My Business On Purpose

In preparing for this recording, it just gave me a total PTSD flashback to the pandemic. And we had the Great Resignation. Oh, my goodness.

At the time of this recording, it’s 2025. I was just thinking about that, and I was also thinking about this idea that once we find a great teammate—a great team member—we want so badly to keep them. I think about the NCAA collegiate coaches right now and what they're having to do, working so hard not just to find new talent, but to keep the talent they already have. It's so easy for these players to go back and forth.

So let's talk about this idea of retention in your business so that you can make sure to retain the right talent—the talent that is really offering a lot of value not only to the business and the mission itself, but also to the actual team members. They're finding joy in their work. So let's see if we can liberate you from chaos by helping you retain the right talent.

It's Scott Beebe with Business On Purpose again. Go check out the Dickie and Donnie Show on this thread, that wonderful podcast that Shawn and Brandon, two of the coaches here at Business On Purpose, have been building for you. We've got a lot of people listening to it. Super fun.

Alright, let's talk about retention. To retain talent, you've got to learn to invest time in deep, meaningful conversations. Now, I realize I've just lost a lot of you. Some of you might just turn this podcast off because you're thinking, That is not within my wheelhouse.

Listen—people crave attention. You do, too. I do, too. We crave connection. When we feel disconnected, we're likely to go look somewhere else, no matter how rewarding the work itself might be. You might go, Well, this is my ideal job. Yeah, but it's not my ideal culture.

So one effective way to foster connection is through what we call the Big 5 Feedback Loop. It's a concept you've heard me mention before on this podcast, and it's inspired by the Big Five safari animals in Africa. And to be honest, I don’t really remember what they are—I’m sure there’s probably a lion and a giraffe and an elephant or something like that—but you can look them up.

The Big 5 Feedback Loop consists of five elements that are crucial for small business success. Just imagine a loop with five points on it.

1. Team Meeting This is a weekly, one-hour gathering led by a leader with a set agenda. It’s not new—but it’s intentional. One hour, agenda-driven, leader-led. During this meeting, you celebrate big wins, review what we call the "anchor" (the essential culture-building elements in your business), do training, give handbook reminders, celebrate birthdays and anniversaries, and review the upcoming 4, 8, 12, and 16-week calendar. Most people forget to do all that because we get too busy talking about daily tasks and sales.

You also discuss your 12-week goals—three quarterly objectives—and you touch briefly on each business system (Marketing, Sales, Operations, Admin) at a high level. This is NOT the time for project-level problem solving. That comes later.

2. Departmental Meetings These are weekly, one-hour sessions focused on specific business systems or departments—Marketing, Sales, Ops, Admin. If you need to combine Marketing and Sales because you’re small, that’s okay. These meetings dive into repetitive elements and results. In your Operations meeting, for instance, this is where you talk job-by-job and get into production details. But this is the only place to do that.

3. Executive Meeting This meeting is for your high-level leadership team. Even in a small business, it's valuable to zoom out and take a bird’s-eye view of things once or twice a month. You talk about strategy, big-picture issues, and alignment.

4. One-on-One Check-ins These are short, 15-minute meetings with each team member, ideally once or twice a month. They follow a five-question format:

1. What big win do you have from this month?
2. What are you seeing and thinking right now?
3. What blind spots do I have?
4. What do you need from me?
5. Here’s what I see and what I need from you. (Note: The fifth one is a statement, not a question—this is where you provide feedback.)

5. Annual Performance Review This happens once or twice a year. What makes it work is that it’s two-way. Half the review is your evaluation of the team member, and the other half is their self-assessment. You can use the same set of questions for both, usually delivered in a form ahead of the meeting.

If you'll implement the Big 5 Feedback Loop—Team Meetings, Departmental Meetings, Executive Meetings, One-on-One Check-ins, and Annual Reviews—you create multiple intentional touchpoints for communication and connection. When you do that, you build a strong, engaged team that feels valued and understood.

And when people feel seen and heard, retention becomes less of a challenge. Yes, there will always be challenges—we’re working with people, after all—but you can reduce turnover, increase trust, and ultimately improve your business performance.

Got questions about the details? Head to businessonpurpose.com/ask. If you’re a business with three or more employees and a million dollars or more in revenue, and you really want to grow, go there. Each of our coaches sets aside 15–20 minutes a week to answer your questions—no strings attached. And if you want to know how to work with us? Just ask. businessonpurpose.com/ask

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