Since COVID-19 we have seen a substantial drop in the number of current and potential employees in the job market today. That's why it is imperative to invest in your current employees to maintain more long term talent.
Offering your current employees bonuses, raises, time off, flexible hours, or company outings (if your means allow you to do so) not only boosts morale but also helps increase production. If you are not in the position to give raises or bonuses, you have to become creative in the ways you show your appreciation.
An example could be as simple as praise, praise is the most overlooked strategy in every company. A Gallup survey found that "recognition not only boosts individual employee engagement but it also has been found to increase productivity and loyalty to the company, leading to higher retention." Praise & recognition should be given daily when opportunity arises.
Overall, having a healthy relationship with your employees not only benefits them but also the future of your company. Creating a place of work where employees feel welcomed and accepted creates an environment where creative collaboration and overall performance flourish. In return making more profit.
Having a work environment that's inclusive also becomes a beacon for new talent seekers. Word- of -mouth advertising is the best if you work in a specific industry where talent is hard to come by. Having the best high quality employees not only creates the best work experience but also attracts the same high- quality talents.
"a company that invests in their employees becomes a beacon of professional success." Why Investing In Your Employees is So Important | BOSS Magazine (thebossmagazine.com)
How have you invested in your employees? Leave a comment down below.