The old saying goes that the company is only as good as the team that makes it. This has become a bit of a cliché because it’s true. The employees coming to work each day and giving their best to make the company thrive should be well compensated for their hard work. This goes beyond money and vacations. Truly great companies always find a way to make the employees feel appreciated and even cherished.
Be vocal about success
Sometimes just acknowledging one’s success and importance is better than any bonus or pay increase you can come up with (although bonuses and pay increases can’t hurt). The goal is to make the celebration of an achievement as public and high-profile as you can. Organize weekly and monthly events dedicated to this purpose alone. This may sound like a silly exercise, but it’s actually an investment in your employees. Proper recognition and praise can help the morale and productivity levels. Besides actual business related achievements, acknowledge the everyday efforts everyone makes in the office (for instance the reward for the person that smiles the most is always a treat).
Paying for tuition
Tuition fees are becoming an ever-larger burden on young people wanting a higher education. In the same time businesses are in need of experts of all kinds and trades. There’s a solution to both problems that will in the same time create a sense of loyalty and belonging to a company. Companies can fund the tuition for their employees in the fields they have the need for. This offer can come with some strings attached. For instance, you might want to require the employee to maintain a certain GPA score or alternatively to stay with the company for a number of years.
Charity
The company should support and promote the goals of its employees even beyond the office environment. Nowhere is this more important than in charity work. Find out what charitable organizations your employees support and lend a hand. This could be as simple as donating some money or more engaged like calling for the whole company to pitch in and volunteer. This isn’t only a testimony to the character of your employees, but also a great way to promote the company and the values it stands for.
Personal and professional growth
Helping the employees with their professional and academic pursuits make be threatening to a company because there’s always a chance that the employee will outgrow it and move on. Truly successful companies embrace this potential because they understand that what’s good for the personal growth of the worker is also good for the company as a whole. Enlisting an employee on a course that will allow them to get a certificate IV in accounting or become accredited in some other way is a great way for an employee to gain a new skill and for the company to broaden its horizons and get the most out of its employees.
Perks
Sometimes small perks can mean much more than larger gestures or large sum investments. For instance, a complementary gym membership for all employees could be a nice touch. A reasonably set expense account is both a nice perk and a sign of trust. Some businesses get a corporate gift card to their employees, which is in a way better than an actual present because the employees get to choose what they buy themselves. Helping employees with the commute by organizing carpools is also very popular because the commute is probably the worst part about any job. All of these perks are inexpensive and easy to organize but they get the job done.
Investing in employees should be the main objective of every company. This can be done by improving your employee’s skills or by making their job a bit easier and therefore increasing the loyalty to the company.