Many companies are working to raise retention rates and employee loyalty. There are a few easy ways to keep employees happy, productive, and loyal
to within your organization. The full compensation package given to employees has to be fair and has to show employees that as they give more time to their organization, their employer will scale their compensation, both financial and non-financial, and show dedication to them. Here are 3 easy tips for keeping your employees happy and content in their positions.
- Pay the right salary. Finding the right balance of base salary is crucial. If an employee is under-compensated they will feel undervalued, and if an employee is overpaid they will feel perpetually indebted to the company which can be a major stressor. Finding the balance in base salary is key for starting and maintaining a good relationship with employees.
- Give employees a reason to work for you. Company culture and non-financial rewards are equally important. Maintaining an employee incentive program that includes rewards such as gift cards to restaurants such as The Cheesecake Factory, family retailers such as The Children's Place or The Limited, or grocery stores such as Whole Foods Market show employees that a job well done does not go unnoticed, and that as an employer you appreciate your employees going above and beyond their typical role.
- Provide people with opportunities. Providing a transparent and progressive career projection for employees, as well as offering professional development training which facilitates employees reaching those goals, will keep employees motivated. The earlier employees know their job is moving forward, and not a dead-end on their career path, the harder they will work and the longer they will stay.