As a CEO, business owner or manager, you’ve heard about boosting morale and keeping employees happy. You may think you’ve got a great grasp on it; you’re wages are competitive, you offer a great benefits package, so what else is there? Turns out, quite a lot.
Accenture, a Dublin-based investment holding company with interest in providing management consulting and outsourcing services, conducted a study in 2007 (http://newsroom.accenture.com/article_display.cfm?article_id=4485) regarding satisfaction in the current organization among middle managers. Surprisingly, 23 percent of respondents were looking for a new job; 25 percent of those said this was due to lack of advancement opportunities at their current job. In addition, 22 percent of those looking for a new position in another organization stated better working conditions at the other job. Yes, this study is several years old at this point, but it still rings true. Your employees need to be happy at work; unfortunately, great pay and good benefits aren’t going to cut it.
Show Your Employees How Much They Mean
Offer incentives or regular praise for jobs done right. Employees need to feel that their work is appreciated, or they’ll find a place that will appreciate their work. While you can get creative, simply taking the time to appreciate employees’ work will go long distances. In addition, let your employees know they’re more than just numbers; take time to try and get to know them. Mark birthdays on a calendar or other special days.
Time Off is a Must
We all love vacation time, from entry level to executive. Vacations help recharge batteries, explore passions and get much-needed time with family or friends. While vacation time may be an obvious entry on this list, it’s certainly not the only.
Partner with Local Companies for Discounts or Special Days
Speak with the owners of local restaurants, parks, retailers and attractions to inquire about getting a discount program for your employee base. If this isn’t possible, why not see if you can get a discount for one day and treat your employees to a day at the park, a company picnic or a brought-in lunch or dinner.
While not everyone can go on vacation at the same time, everyone wants to get out of the office every once in a while. Entrepreneur.com mentions a company that offers a few paid hours per month to participate in community service or volunteering for charitable organizations.
You don’t have to spend a lot of money or time implementing employee appreciation tactics. The key is to make your employees feel appreciated. You’ll boost morale and company loyalty – and that is invaluable to your bottom line.