Finding the right talent for your business is often just the beginning of the road to creating a long-lasting working relationship with them. As the economy continues to recover from the pandemic and the opportunities for work are growing all the time, it is vital that your business creates an atmosphere in which your employees want to stay for the long haul. When people feel undervalued at work, they will often become frustrated, and this is the danger zone where they will begin to look at the other prospects afforded to them that may have bigger and better bonuses. So, if you want to keep the best in the business, you need to show them exactly how valued they are by your company.
A classic technique to keep talent happy is to use money incentives. This is already very prevalent in the world of sales but is transferable to other sectors too. Typical money incentive schemes will focus on the productivity of the individual or team, often creating a competitive atmosphere within the company. Money is a huge motivator for most people, and so when people are regularly incentivized, they may be more likely to stay long-term.
While many people regard money incentives as one of the top reasons to stay with a company, it may not always be possible for smaller businesses to deliver on this regularly. Instead, showing recognition for an individual’s achievements in the workplace could be creating a personalized prize. Not only will this be much appreciated by the recipient, but it also proves that management knows their workers as people rather than numbers. This, in turn, will lead to the employee feeling much more valued, improving the chances of them staying on board long term.
More autonomy and flexibility over workload
One of the biggest issues that people come across in their working life is that they feel that they are not trusted by their superiors to work effectively without supervision. The recent pandemic forcibly changed the way that most businesses were structured, with many staff having to work remotely. This, in turn, showed people’s ability to have autonomy over their workload while still working at an optimal level. Now that the pandemic is coming to an end and businesses are returning to normal, many workers are reluctant to go back to full-time office work, meaning that they may begin looking for roles that offer more autonomy and flexibility in work schedules. Indeed, Inpulse.com has seen how quickly staff retention rates can decline in times of change. Giving your staff the opportunity to become permanent remote or hybrid workers may then be an ideal way for your business to show appreciation for their skill set.
Spontaneous, positive feedback
One of probably the most underrated, but highly valued techniques for showing appreciation to your employees is to give consistent and spontaneous feedback on their efforts. Whilst many companies carry out annual or bi-annual performance reviews, these, while helpful in some respects, are formal affairs where the focus tends to be more on the space for improvement. Using spontaneous and positive feedback as a tool not only makes the person feel valued and important but also creates a more supportive working environment for all.