A study conducted by Gallup in 2017 found that 85 percent of employees aren’t happy in their workplace. This is definitely not good news. After all, the amount of dissatisfaction results in global business losses amounting to trillions of dollars in productivity. In addition, and perhaps even more importantly, unhappy employees leave and cause even greater losses. They take their experience with them, which causes a decline in productivity and performance as you struggle to find a new employee.
Thus, companies really need to offer unique advantages to keep their employees happy and encourage them to stay. One thing you can do as a business owner is to continuously invest in your people. How do you do this? Here are a few ways:
1. Employee Training
One factor that can encourage employees to stay with their company is personal development. Indeed, continuous learning is important in any industry. Give your employees the opportunity to improve their skill set or learn new ones and they will usually show their appreciation with their loyalty. There are plenty of employee training courses for various skills and competencies. You can also sign them up for conferences where they can learn from peers.
What’s great about employee training is that it benefits both employee and employer. Indeed, if your team continuously receives training and access to resources, they will not only stay, they will also use what they learned to work better and smarter, helping steer your business to success.
2. Promote Health and Wellness
Investing in your employees’ health and wellness doesn’t automatically mean putting up a gym in your office (although you can do that, too). It can be something as simple as providing more ergonomic chairs and other accessories that promote proper posture. You can also give wearable trackers and incentivise the completion of weekly fitness goals. Free gym memberships, spa or massage gift cards, and access to healthy snacks are other simple ways to invest in your people’s health and wellness.
3. Expand Their Network
No one reaches the top alone. On your way there, you’ve certainly had mentors who inspired you and perhaps even taught you a few tricks. You’ve also probably built a network of influential people through the years. Do the same for your employees. Help them expand their network by introducing them to people whom you think can help them succeed. What’s better than your employees bringing new opportunities to your company through the relationships they build. Don’t be afraid that they may leave after they meet other mentors or network with people from other companies. If you continue to value and invest in them, they will be loyal to your organisation. Trust in your people!
4. Create a Sustainable Rewards System
Employees like to feel that their hard work for the company is appreciated. One way of showing this appreciation is by giving rewards. Indeed, studies have shown that workplaces with a recognition program in place have happier, more contented employees. Make the rewards something sustainable, so you can consistently give them to multiple people. They could be as simple as gift cards, a cash bonus, or even just a couple of days of paid leave. Plan a sustainable schedule, too. Most companies have annual ceremonies for rewarding their employees, but you can also follow an “Employee of the Month” scheme or something similar.
5. Invest Your Own Time
As the adage goes, “If it’s important, you’ll find a way.” In this case, your employees are important, and you will need find time to invest in them. Get to know them at team gatherings, at meeting coffee breaks or when the opportunity arises.Ask about how they’re doing at work, but also talk about their interests and their life outside the office. Don’t chain them to their desks, too. Allow them to have long breaks or work someplace more comfortable if they prefer. Let them know that you’re not just interested in their work output but also their well-being. Be willing to spend time with your employees and develop healthy relationships with them. This way, you can create an environment of trust and loyalty.
Henry Ford had once been quoted saying, “The only thing worse than training your employees and having them leave is not training them and having them stay.” Indeed, talented employees are a valuable resource; talented and committed employees are even more so. Invest in your employees and see how much more successful your organisation can be.