Employees constitute the backbone of a company, and the competition is rife for hiring the best. As such, many institutions are going the extra mile to motivate, engage and, essentially, retain employees. Given that it costs an average of $7,645 for a company with 0-500 employees to hire someone, it makes sense to do what you can to get your money’s worth. There are certain areas business leaders are paying attention to motivate employees, including the following.
1. Employee benefits
Exceptional employers recognize the importance of retaining the best talent for the success of their company. This informs what goes into designing the compensation plan or benefits package. Compensation involves everything from wages to commission structure, and the more attractive it is, the more likely your employees will be motivated and stay. Your compensation plan will have to be unique and personalized for this to work. This means conducting a detailed assessment of your workers’ needs. This also prevents you from misplacing resources on things that may not be important to your team. For example, you might be better off offering lunch to your employees if your office location is not accessible to food compared to opening a gym they wouldn’t use. Your employees are more likely to value their positions and become advocates for the company, ultimately increasing productivity.
2. Health and well-being
Over the years, the conversation surrounding a healthy workplace has increased. More people are concerned about the quality of work and their physical and mental health. It is still quite challenging for companies to achieve this. However, many strive to do the best they can. According to reports, employees feel happier and more satisfied when they perceive their workplace as healthy. They are also more likely to be productive and motivated. It boosts company image and lowers absenteeism rates to have a healthy workplace. Your company is also likely to save money regarding lawsuits, injury claims, etc. Leaders are focusing on this area due to these benefits. Even though it may seem like a lot, your efforts will go a long way.
The world, in general, is currently going through shifts that promote inclusivity, and the workplace is one of the areas with a spotlight on it. Diversity is inevitable, and no company is likely to have two employees that are the same in terms of working styles, cultural background, hobbies, and so on. By focusing on inclusivity, you ensure that all employees feel like a part of the organization. This means approaching employee engagement without a ‘one-size-fits-all’ way of thinking. There are many ways to create an inclusivity-conscious workplace, starting with your hiring processes. You can also include training to create awareness. Aside from that, consider including systems that make work easier for everyone. For example, working with professionals like Sheridan Lifts to upgrade your lifts for your employees who live with disabilities or creating space for your Muslim employees to pray shows your commitment to creating a family at work.