The success of any organization is dependent on the result produced by the employees. That’s why it is essential to provide them with a good working environment where they can thrive and perform to the utmost of their ability. Keeping them motivated, happy and engaged towards their work can enhance their productivity and skills. However, that can be a tough row to hoe if you can’t afford to give them high compensation packages.
It can definitely pose certain challenges, but luckily there are ways through which you can keep your employees happy without driving your company into bankruptcy. Here are a few inexpensive perks that can help you keep your staff enthusiastic.
Provide opportunities to grow
One of the best ways to motivate and inspire employees is providing them with opportunities for professional growth. Offer them a chance to take on more responsibility so that they can be prepared for bigger job descriptions and higher paying positions.
Assign them mentoring roles to build leadership qualities in them. Show them a clear map of where their positions could potentially lead and help them achieve their goals. Train them for higher positions when you see potential in them or when they express an interest.
Implement flexible work arrangements
A better work-life balance increases the productivity of employees and lessens the chances of their turnover. In a study, conducted by Society for Human Resource Management (SHRM), 89% of HR managers reported significant increase in employee retention after providing flexible work arrangements. Corporate Executive Board conducted a study on 50,000 global workers and found that employees with good work-life balance work 21% harder than those who don’t have.
Consider offering your employees an option to work from home when they are sick. Make them feel you understand that they have a life outside the office and they will leave no stone unturned in putting extra efforts to accomplish their tasks.
Enforce strong company culture
Every employee expects the organization to understand that they are investing their time to good use by showing up at the office every day. Providing them with the compensations is not enough as it is just the part of satisfaction they receive from the job. You’ll need to enforce an effective company culture to bind them together.
You can implement it by allowing some flexibility in work schedules. Planning activities, such as baseball or bowling enables them to participate and work together as a team. A weekly morning get-together in the conference room can provide them a chance to re-energize and connect with their peers.
Many times, the productivity of employees decreases because they don’t get to see the benefits of their hard work and achievements. Appreciating them for their efforts and accomplished tasks can boost their efficiency. You should understand that your employees have a major part to play in the success of your company, so you should provide them genuine gestures of appreciation and value their work.
Offer rewards to top performers
With appreciation, reward your employees for their performance and efforts they have put into finishing their tasks efficiently. These rewards can be the extra day offs, $100 check or as simple as a gratitude card signed by the management. Many studies have found that employees work harder and perform better after their rewards. It was also reported that company’s sales are increased after providing benefits to the top performers.
These were some great ways to build and nurture a team of efficient, loyal, and hard-working employees without handing out big raises. Being an HRM student, these tips will help you in the future to take your organization towards sustainable growth.
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