Are you one of the many business owners who take their employees for granted? With high unemployment rates still plaguing the North America, many business owners assume their employees will stick around forever. As a result of this relaxed attitude, employee related issues are not being addressed the way they should be. The foundation of any successful company starts with its employees. Avoid losing your top talent, by making an effort to engage with them and recognize their efforts.
Ask yourself the following:
Do you actively recognize your employees’ contributions to the company?
According to a study by Globoforce, a leader in employee recognition programs, 78% of employees said they were motivated to work harder when their efforts were being recognized. This includes verbal recognition, promotions, bonuses, awards, mass e-mails, announcements in employee newsletters and so forth. In addition, a study by Towers Watson found that a company’s reward policy is enough to make an employee stick with their current employer. Having some sort of public or formal rewards program will stimulate your employees and help deter them from searching for opportunities elsewhere.
Have you openly communicated with your employees regarding changes, if any, at your company?
Communication with your employees is vital. Not only does this make them feel they are in the loop, but it also improves their productivity. Think about it, if your company is going through a major change, your employees will naturally wonder how these changes are going to affect them. Most employees worry about the security of their job, rather than the opportunities that change could bring. Be sure to explain to your employees how these changes might impact their job.
Does your organization have any programs or policies that help the well-being of your employees?
Showing concern regarding employees’ health, workload, advancement, home-work interface, and so forth fall under employee well-being. Addressing these issues says a lot about a company and how they value their staff. It’s also a great way to reduce stress and other health related issues among your employees. Companies generally rate poorly when it comes to the application of programs that focus on well-being. According to another study by Globoforce, only 10% of employees feel as though they are valued by their company. As a manager, you should focus on making sure your employees feel significant, in order to avoid them leaving your company for one that offers them more wellness programs.
If you’ve answered no to most of these questions, there’s a good chance your employees are ready for the next best thing to come along. Here are some ideas to help you minimize turnover and engage your workforce:
Ask yourself why you haven’t focused more on employee engagement. Not making an effort to preserve your employees should be a wake-up call. Perhaps this neglect starts with management and the way they prioritize work related issues. Employees should be a top priority of any company. Without hardworking, motivated individuals, it’s extremely difficult to maintain a strong and successful business.
Implement a simple employee rewards program. This program doesn’t have to be complicated, time-consuming, or expensive. Showing your employees appreciation for the work they do will motivate them and make them feel appreciated. Whether you offer them a small prize, or simply recognize them at a staff meeting, they will know that their hard work has been noticed. Consistency in rewards programs gives employees an assurance that the work they do everyday matters.
Create an employee newsletter. Employee newsletters are a great way to keep everyone informed and up-to-date on any changes taking place at your company. An in-house newsletter is also another excellent way for you to showcase your employees’ achievements and awards, making them known to the entire company.
Emphasize employee well-being. If you’re not sure where you stand on this topic, ask your employees. Start by introducing an anonymous survey that asks them to rate where they think your company stands on the employee well-being ladder, and what could be done to improve that.
Investing in your employees is perhaps one of the smartest moves you can make. With more motivation and an enhanced work ethic, you won’t regret the effort you made to make your employees happy.
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