Every time you hire a new employee, you spend money on the hiring process and lose productivity during training. The most financially sound businesses are those that have low turnover and make infrequent new hires. In order to be this company, you must retain employees, which means keeping them happy and encouraged. Engage employees in a variety of ways to keep them involved in the company and boost their work performances.
Keep Work Fun
A company's employees are part of a team, but with cubicles keeping them pinned up all day and departments segregated in different areas of the building, it may be difficult to feel that team spirit. Help employees see the bigger picture by getting them together frequently with company activities, like monthly or weekly games or scavenger hunts. Encourage participation by giving prizes to winning groups.
Ask for Advice
To make employees feel like part of the team, prove they are part of the team. The execs may know the ins and outs of the business, but employees often come up with solutions that those locked away in their offices may not see. When changes need to be made to company operations, go to employees for their thoughts. Keep an open-suggestion policy where any new idea is considered. When employees have a say in the running of their own departments, they'll be looking for ways to improve the process every day, upping employee engagement.
Rewards
Nothing makes employees go above and beyond like rewarding them for that effort. Make the workplace one of recognition by handing out award certificates on an annual, or even monthly, basis. Rewards don't have to be for common categories, like attendance and sales volume. Think high school yearbook, and consider awards for "best hair" or "best potluck dish." Do it until every employee has awards peppering their workspaces.
A Word on Bonuses
When you do give out official performance-related rewards, keep them in line with your employee's purpose. Remember, employees come to work each day to make a living, so rewards that acknowledge that have the most impact. If the company has the funds, immediate rewards like cash bonuses or trips have the most impact on employee engagement. If a company is growing, stock options may be more budget-friendly, and still offer financial incentive. No matter what business you're in, you must engage employees to keep the workplace from becoming a place of tedium and dread. Create a workplace to which employees don't mind coming, foster relationships within the company to create loyalty, and reward employees for their hard work to keep them on the team and working for the good of the company for years to come.
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