Retaining employees and creating a community with a loyal dedicated workforce doesn't have to be expensive. Optimizing your rewards budget, and leveraging non-monetary employee recognition can help you achieve these goals without breaking your budget. Here are 3 effective tips for retaining satisfied and devoted workforce for less.
- Provide Benefits Employees Will Appreciate: Providing benefits and rewards that employees want will be key in motivating them to go above and beyond in dedicating employees to their work, and their employer. Some employers provide time benefits, such as flexible paid time off, or an additional day off for a job well done. Other employers take a more tangible approach and reward employees with gift cards to help with their every day expenses by providing gift cards to retailers such as Whole Foods Market or CVS/Pharmacy; or gift cards for special occasions like a night out at The Cheesecake Factory. However you choose to provide benefits and rewards be sure they fit your audience.
- Optimize the Work Environment: providing flexibility for employees in their day-to-day routine can be surprisingly effective in workforce motivation and retention. Simple gestures such as casual Fridays, summer Fridays, bring your pet to work day, or a company outing can go a long way to boost morale. These small adjustments to the normal routine can go a long way in proving your organization is flexible and cares for its employees well-being.
- A Managerial Pat on the Back Goes a Long Way: Recognizing your team's hard work goes a long way. It could be as simple as an email to upper management upon completion of a big project commending the team's efforts, or a batch of homemade cookies during a stressful week. If your employees feel appreciated they will appreciate their employer in return.
