It has always been assumed that financial reward is all that employees need or want. Whilst this obviously contributes to a happy team, there are many more elements that you should ensure you implement in your business to maintain employee retention.
- Leadership that is supportive
A good leader is a role model, setting standards that are high for all their employees. However, it is crucial that as a leader, you are supportive, lending an ear, guidance and direction for whenever your employees need it. Assuming you have skilled and dedicated staff will help you to create a positive atmosphere that will increase productivity and create the ethos of a supportive team.
- Define your vision
Ensure all the Company know the vision and how that translates for them and the tasks they need to perform. For a business to succeed, all stakeholders should know what is expected and where the company is heading strategically.
- Empower the people!
Ultimately, people like to feel valued as an individual. None of us like to feel we are just a tiny cog in a big wheel, therefore it is important to allow people to express themselves. Allowing people to maybe have a picture on the wall of the car they would like to own one day, or their dream holiday means they will want to work hard to anticipate that open day they will have those things! Also allowing people to make decisions without feeling suffocated (as only the leadership team can make all the decisions!) will mean employees will feel helpless in their roles. Allow people to make decisions and be accountable for them!
- Training your team
Never assume that every member of staff has every skill that is necessary to perform their role. Check personally what type of skills they think they are missing and that they assume are essential for their job.
Newsletters, regular meetings, training sessions, are all ideas to keep people informed within your business. If you think people are becoming confused, ask questions to find out why and maybe review how you communicate to the whole team. Employees that feel communicated to, feel involved and valued.
- Engagement is key!
If you have a project, try and get as many people as possible involved in the planning and decision-making. You will be amazed at how motivated people feel if they feel their ideas have contributed and been listened to and how they will invest in completing the project to their highest capabilities.
- Teamwork is paramount!
Building your team can involve the office environment and out of the office! Team events/days really encourage team work outside of employees normal working routine, however, you will reap the rewards in the office environment as this well increase productivity.
- Eliminate dissatisfaction and boredom
Motivation in your role is most definitely linked to job satisfaction and the support of your leaders in your business is key in eliminating any dissatisfaction. Avoid intrusive supervision of your employees. Your staff need to know that as leaders you are aware of any problematic areas and are working on resolving these. Boredom also drains the motivation out of your employees. Routine can aid this! Allow people to be explorative and inventive, new processes for old tasks, and rotate repetitive tasks so that it’s not always the same people doing them!
- Lead for success
Providing positive feedback to employees that have achieved is so important and provides such motivation. Don’t wait for performance reviews, if something great has happened then tell that employee or team straight away. It will do wonders in keeping everyone motivated. Equally, if something hasn’t gone so well, its best to address it straight away that employee has the chance to rectify the situation. Sometimes having quick weekly meetings to update everyone on projects can help build strong working relationships.
Of course, this is so important for your employees to feel valued. No matter the size of your business, there are always opportunities to reward excellent performance. Research has proven that if your employees have goals that can be achieved with potential financial reward then productivity is highly improved.