5 Ideas to Increase Employee Satisfaction and Retention
A model employee is priceless...until they leave. Then you can put a price on them. A study by the Society for Human Resource Management states that the average cost to hire a new employee is $4,129. On top of that, the amount of time it takes to fill a position is 42 days.
That’s why employee retention has become a major priority for small business owners. But how do you do you keep your workers happy and satisfied? A 30% raise and a company BMW might do the trick, but that likely isn’t in your budget. A recent article in the Wall Street Journal suggests a simpler and more effective method: create an environment where they feel respected and appreciated. With that in mind, here are five simple and non-BMW-offering ideas for employee appreciation.
Celebrate the Big Days
Birthdays. Work anniversaries. The closing of a big deal. Whether it’s a personal milestone or a work-related achievement, use the occasion to make your employee or employees feel special. Cater a meal. Order a cake. How about a day off (that doesn’t count against their personal time off)? Just make sure you know your audience! If you’re celebrating the birthday of someone who doesn’t love the spotlight...a singing GoodFella-gram (sung by a Joe Pesci impersonator) probably isn’t the way to go.
Help Them Grow
You don’t need to buy a cake (or hire a movie-themed singing telegram) to show your appreciation. Career-based incentives like offsite leadership-training programs or online courses or succession planning programs are a terrific way to show your commitment to your employees and making them feel like they’re a valued members of your team. And you’re not just investing your workers...you’re investing in your company as well, by improving the quality and capabilities of your staff.
Say Thank You
Your mother was right. It’s important to say “thank you.” A simple acknowledgement for a job well done makes a noticeable difference in someone’s day. You’re letting them know you appreciate what they’re doing. And it’s so easy to do. In fact, stop reading this article right now and thank one of your workers. We’ll wait for you ... ... There. That felt great, right? And there are so many ways to thank someone. Handwritten notes, social media shout-outs, or how about a gift card for the employee and their significant other? These gestures do more than just give thanks. They gain loyalty.
Food, glorious food. There are songs about it. There are autumnal holidays centered around it. It’s the way to a man’s heart (and many a woman as well). You get it. People like food. So do your employees. Surprise them with a meal every now and then to let them know you appreciate them. Morning donuts, a pizza delivery for lunch, an office trip outside to the food truck parked near your business – these are all great ways to invigorate the office, and fuel them for the rest of the work day. (Just make sure you bring coffee with those donuts. That 2:00 sugar crash is no joke).
Become Part of the Community
A meaningful way to bring a company together is to collectively take an active role in local programs or charities. Donations and sponsorships in the name of your company are great, but when you find a way to involve your employees, it becomes more inclusive and consequential. Whether it’s a simple clothing drive at the office or a company workday spent at a food bank, working with your staff on civic-minded activities can make a positive impact on both your office and the community.
Here’s another employee appreciation idea: make sure their Internet, phone and cable TV solutions are up to speed. Contact us today to learn more about our suite of communications solutions and how we can help your small business operate more efficiently and productively.