The more innovative companies and firms out there that enjoy a high staff retention level look after their employees – exceeding the level of legality that they need to. Aside from a fair pension scheme, generous holiday, and a safe working environment conducive to physical health and productivity, what else do these companies do to keep their employees so happy and loyal?
Appropriate reward systems
The corporate world is all about statistics, measuring success, and recording facts and figures until you’re blue in the face! Reward systems and appraisals so often measure output in terms of units sold, and targets are frequently based around this too. Using other measurables, though is now becoming more popular and commonplace; confidence and energy levels, for example, and job satisfaction, can all improve output and retention dramatically if they are high. Looking into preventative measures rather than outcomes during the appraisal process can, for this reason, be beneficial.
Alongside this comes incentives too, perhaps rather than implementing these based on reaching what are frequently unrealistic or unobtainable targets, other reward systems can be put in place that take some of the focus of the final result and concentrate more on input.
A key to happy and loyal staff can be giving them the knowledge that if they have a problem or difficulty with a task delegated to them within their work, they can approach managers and bosses without fear of reprisal. This idea of hierarchy and only talking to certain people, staying out of the way of the big boss detracts from the community feel companies with happy employees enjoy.
Approachability can be easily undermined in favor of the feeling of power; there can be a lot of egos circulating in an office environment, letting this go and making the playing field even for all members of staff regardless of status or position can make for a great working environment.
Encouraging teamwork and building on this through various exercises can help employees get to know each other, like each other, have fun with each other and ultimately work more productively together. Removing them from the formal environment, whether this is for a corporate retreat or team building day out, can not only help as an ice breaker but create more of an official team feel, something more potent than the sum of its parts.
Appreciation of value
In addition to teamwork inspiring intrinsic motivation – again, another psychological component can help get the most out of employees. Ensuring that they feel appreciated in the workplace, feeling that they truly add value and that this is recognized and appropriately rewarded can even make employees want to work harder for you. Add to this intrinsic motivation the feeling of simultaneously being part of a team, and you can create a potent, happy, relaxed, and productive workforce.
Investment into employee health
Finally, taking care of your employees, offering psychological help and support through any personal problems can pay dividends. If employees are happy at home, they are likely to be satisfied at work, taking care of them is not only an essential part of human nature, it helps to create and retain an optimally functioning workforce too.