It is said that human capital is the most important asset for a company. Motivating employees for better performance should be a major concern for any commercial organisation. In a highly competitive market, just as reputed companies are sought after, so is unique talent. Ensuring retention of your skilled workforce will keep your business on track.
There’s no disputing that happy workers produce the best results. This, in turn satisfies clients, increases profits and generally benefits the business all round. Factors such as a high turn-over rate, low productivity and falling client business can signal that staff members are disenchanted and not performing to their optimum capabilities.
So how can managers make sure their workers are happy and highly productive ones? Below are four ways which can help employers take care of their employees… and ultimately their business.
1. Recognise job satisfaction
whilst a salary is indeed a very important motivational factor, not all employees work solely for financial gain. It may be something of a cliché, but some people really do wok for other non-tangible reasons, such as job satisfaction. This can come from the simple act of being appreciated. Managers should ensure that those employees that are performing well are adequately encouraged through praise, thanks and a pat on the back. It all serves to keep up morale and promote job satisfaction.
2. Look out for warning signs
Absenteeism, inflated sick leave and unjustified excuses for absences are all factors hinting at employee dissatisfaction. When an organisation starts losing business and losing it quickly, the problem could lie with reduced employee esteem, not operational or servicing issues. Management should have mechanisms in place to flag up such issues. They should familiarise themselves with how overall employee morale links to client servicing and the financial fitness of the company.
3. Adopt a flexible approach
Flexibility in working hours, holidays and part-time employment is one aspect of working life that employers often tend to overlook. If applied properly, flexible working schedules suit parents with young children, expecting or recently delivered mothers, students, or indeed any employee with special circumstances. Sometimes the nature of work dictates flexibility, so applying it may not just be a job perk, but an important aspect of your healthy business operations.
4. Remunerate your employees adequately
Employers should constantly ensure that their salary bands are aligned with averages in the market and slightly higher than the competition. A highly qualified employee will remain satisfied for a while, but in a constantly changing market, the good ones will either be headhunted or will simply leave on their own accord when they find better remuneration elsewhere. Adequate rewarding is only fair. If an employee excels at his or her performance, they’ve earned their compensation. Employers must pay active attention to those factors that affect their very staff force, implement change where necessary and observe industry trends to make for an ultimately successful business.