How to make your company an 'employer of choice,' according to a millionaire cofounder of TransPerfect

When Liz Elting was building her company, one of her priorities was to create a culture and work environment that encouraged her employees to stay.

Her goal was to make "our company an employer of choice in our industry and ideally in any industry," she told Insider. 

Elting cofounded the global translation company TransPerfect in 1992 while earning her MBA at New York University. She served as co-CEO for 26 years and is one of America's richest self-made women, with a net worth of $370 million, according to Forbes. In 2018, she sold her company shares for $385 million to her cofounder, Phil Shawe. Last year, the company reported $1.11 billion in revenue.