1)Insure Your Employees Legally:Believe it or not, the only legally required benefit that you are obligated to maintain is workers' compensation insurance, which you can self-insure in many states. There's no such requirement for independent contractors. However, to protect against potential exposure for work-related accidents involving contractors and other third parties, you should maintain liability insurance.

2)Compensate Executives with Bonuses:Be creative when you develop executive compensation plans. Consider all types of options, including car allowances, life insurance, relocation payments, flexible start dates, signing bonuses, use of company-owned vacation property, health-club membership, tuition reimbursements, and other compensation that will make your package competitive and attractive. Offering non-monetary incentives like these will tempt talented candidates and help you keep them.

3)Don't Be a Slave to Salary:Be careful about using salary increases as a primary retention strategy. It can quickly become an employee's strategy to threaten to leave unless they receive a pay hike. This can subsequently become ingrained in your company's culture. You might want to look into some type of employee ownership or stock option plan to improve employee retention and loyalty.

Recruiting and rebuilding teams might also have to figure into your strategy.

Have a nice day