No matter the size of your business or the industry you’re in, the best leaders know that our people are our greatest resource. Although it may be tempting to ignore this truth, your employees could easily leave your company and go to work somewhere else if they aren't happy, especially with the unemployment rate so low. For this reason, having competitive benefits and a unique culture, while consistently showing your employees that they are valued and appreciated, is essential. In fact, according to Forbes, feeling unappreciated is one of the top five reasons employees will leave an organization.
Below are some tips to help you show your employees how much you care, preventing them from leaving your company in search of greener pastures.
1. Share and involve your employees in your vision and strategy.
According to the Muse, engaged employees are 87 percent less likely to leave their jobs than employees who do not feel engaged. So, what is employee engagement exactly? In short, employee engagement measures the relationship between an organization and its employees, and ultimately how employees feel about that relationship.
Transparency is a key part of strengthening that relationship. Therefore, take the time to explain your company's vision and long-term strategy to your employees so they can better understand your goals and the reasoning behind your decisions. When employees are aware of and understand your vision, they will feel more like a part of the team, and they will be able to understand the value of their day-to-day activities and the role they play in the bigger picture.
2. Publicly celebrate both individual and team milestones.
When an individual employee or a team of employees is successful, take the time to celebrate these achievements. When you showcase your employees for their efforts, they will feel supported and valued. For example, an OC Tanner study found that 79 percent of employees who quit their jobs did so because of lack of appreciation. Thus, it is essential for organizations to teach their managers how to recognize employees and show gratitude on a regular basis.
Keep in mind that not every employee will want to be recognized in the same way, so it's important for managers to get to know their team members as individuals and act accordingly. It’s also key that recognition is authentic and specific. Broad “good job” compliments don’t land quite the same as specific positive feedback will.
3. Provide benefits that make a difference in their lives.
Employee benefits are another excellent way to foster job satisfaction (as well as for recruitment). Because of recent changes in the health insurance industry, the demand for fair and affordable insurance options that provide quality care is higher than ever before.
However, health insurance is not the only benefit to consider. Employees also greatly appreciate access to discount programs, financial wellness services, pet care insurance, parental leave packages, and other personalized benefits. One of the easiest ways to offer a variety of benefits your employees will love is through a professional employer organization or PEO. With a PEO, you outsource your human resources activities to a third-party that can make sure your employees always have access to the best benefits available.
4. Make work/life balance part of your company culture.
The subject of work/life balance is controversial, including the question of is it even possible. However, in order to ensure that your employees love their job, they need to know that it's okay to unplug from their jobs after a long day of work. They also need to be able to enjoy stress-free vacation time with their families, provided that arrangements have been made to cover their work-related roles and responsibilities.
You can also promote better work/life balance by simplifying administrative tasks your employees must complete. Reducing the amount of paperwork, meetings, and other "extra" responsibilities for employees gives them more time to themselves and a lower stress level. One way to simplify administrative tasks is by implementing advanced HR technologies. With these technologies, it is easier for employees to find the information they need and manage their deductions and elections without unnecessary meetings or confusion.
5. Trust your employees.
If you want your employees to feel loyal to your company and continue working for you because they want to - not because they have to, you need to show them that you believe in them and that they have your trust. Keep in mind that saying you trust them is not enough. They need to see that you are willing to give them responsibilities and believe they will uphold them without your constant supervision.
6. Pay them correctly and on time.
Although it may seem obvious, making sure your employees are receiving the right payments at the appropriate time is a simple thing you can do to increase job satisfaction. Far too often, organizations have issues with payroll, causing frustration for employees. Make sure your company's payroll process is easy, transparent, and seamless, regardless of the complexity of the employees' pay structure.
7. Make sure they feel safe.
Employees need to feel safe on the job. This safety should include physical protection as they perform their daily activities and safety from harassment. To ensure that all employees feel safe and that your business is successful, you need an HR department (internal or outsourced) that provides a safe space for employees to report issues, ask questions, and get their needs met.
Providing a good environment for employees sets your company apart from the competition, not only does it help you to keep the talent you have, but also to recruit and retain new talent. By following the tips above, you can build a company culture that supports your employees and facilitates success.