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You need happy employees to have a productive, successful business. While giving your employees a raise is one thing you could do to improve employee satisfaction, ultimately, money can’t buy happiness. As an employer, you need to facilitate a work environment that retains high-performing employees for longer periods. Your employee retention plan should include small and cost-effective ways of improving company culture and rewarding your team in ways other than higher salaries. Here are five small ways you can make a big difference in employee satisfaction:
1. Give Small Tokens of Appreciation
Little perks can go a long way in boosting employee morale, and you can use them to incentivize hard work and bigger results. For example, reward employees who reach specified sales benchmarks with gift cards or tickets to see movies, games or concerts. You could also provide longer lunch breaks and set up the employee break room to facilitate more refreshing off-time. For example, set up some barriers that give employees their own personal space for their breaks, and have another area of the break room that encourages fun social interaction, with activities like ping-pong, foosball, or board games.
2. Equip Employees with Helpful Tools
Employees know when the software and hardware you’ve given them isn’t top-of-the-line. Using cutting-edge technology to accomplish their jobs makes employees proud to work at your company. When you give your employees everything they need to perform well, you set them up for success, reduce frustration and improve overall morale. For example, investing in a high-quality web conferencing solution that enables your team to collaborate more easily can streamline their workflow. This not only makes their job easier but also increases their productivity and, in turn, boosts your bottom line.
3. Invest in Your Employees’ Careers
Employees aren’t just looking for a good salary; they’re also looking for a job that invests in their long-term career plan. Showing you care about their bigger-picture goals outside your company helps you retain smart, high-performing employees. For example, give your employees free tuition for courses in your industry. Continually provide them training to enhance their education and boost their resume. This makes your team members feel their job is well worth their time.
4. Show them You Value Their Time and Independence
Show your staff you value their time and that you trust them to use it effectively. Only talk to them or hold meetings when it’s necessary, and give them the freedom to get things done on their own. Rewarding extra work-time with overtime pay also shows them you value their time. Research suggests that micromanagement is a major killer of employee morale. Giving your staff more space and freedom to manage their own time and tasks is a cost-effective retention strategy.
5. Provide Remote Opportunities
Remote opportunities can boost both productivity and employee satisfaction, research shows. A study from Stanford showed that telecommuting employees took fewer long breaks and sick days than employees working in offices. Giving your team members the option to work from home when possible shows you respect their time and freedom, and it helps them avoid the hassles and expenses of commuting. Allowing employees to work from home shows you trust them and motivates them to demonstrate high performance from afar.
Employees aren’t just looking for a higher salary from their job but also an environment that makes them feel respected, rewarded and engaged. Little things that show you care about their time and their long-term goals can go a long way in boosting employee satisfaction, productivity, and performance.