Did you know that Google provides its employees with massage services, physical therapy, fitness centers, and flexible working arrangements?
Virgin has all employees covered by health plans.
Netflix provides new parents with one-year paid maternity or paternity leave.
So, why do these international conglomerates take care of their employees? Because they understand that the meaning of work in 2021 has changed and workers are the heart of their company.
Treating your employees fairly is critical for your company’s success. Offering a wide range of benefits impacts how hard your employees work and how they interact with customers. Most importantly, employee-centric workplaces increase workplace morale and employee retention.
Here is why you should take care of your employees.
Workplace satisfaction and engagement directly impact employee productivity. According to the University of Oxford, happy workers are also 12% more productive. Another study by Gallup found that engaged employees are 21% more productive than their disengaged peers.
Employees who feel happy, safe, and valued perform their tasks more productively. By showing support and appreciation for their work, you will create positive reinforcement and inspire them to grow both personally and professionally.
You can boost employee engagement and productivity in multiple ways. For starters, communicate with your staff honestly and transparently. Inform them about new projects, company updates, etc. Most importantly, ask them for their opinion.
Another way to keep employees engaged is to incentivize them for their dedication and loyalty. You can use employee recognition software to track employee achievements and reward them accordingly. Some tools even allow for peer assessment.
Establishing a Strong Employer Brand
Employees who are satisfied with your company are its best brand advocates. For example, their increased morale is directly reflected in their communication with customers. Employees who share your company’s values and are satisfied with their work are more likely to deliver better customer service. They will address customers’ questions and problems with patience and empathy.
By taking care of your employees, you can also attract top talent in the industry. Encourage your current workers to share the positive word of mouth about you. Let them celebrate the company’s achievements. They could review your company on online business directories, share their experiences on LinkedIn, or publish behind-the-scenes photos of their coworkers. You should also provide your employees with valuable incentives for referring reliable employees to your company.
Use your job ads to emphasize your employer brand. Offering a competitive salary is not enough. What else do you offer that may attract them? For example, if you invest in small business health plans to support your employees, write that in your job ads. If you support remote work and offer flexible working arrangements, add that to your list, too.
Top Talent Retention
Retaining top industry performers is common problem companies face. According to research studies, 63.3% of businesses claim that retaining employees is more difficult than hiring them.
High employee turnover may compromise your company’s performance in multiple ways, from lost productivity to higher recruitment costs. It costs approximately 20% of a worker’s salary to replace them.
To retain employees, employers should prove that they care about them. From incentivizing employees for their accomplishments to providing professional growth opportunities, you can use various tactics to increase employee retention rates.
Employees who are satisfied with their work and are passionate about their jobs are easier to work with. Precisely because of that, you should communicate with your employee regularly. Brushing employee dissatisfaction under the carpet has never been an option. Talk to them daily to learn more about their problems, complaints, or ideas.
Start by collecting employees’ feedback. Have an open-door policy and let employees reach out to you whenever they need to. Listen to them actively and help them solve both personal and professional problems. However, keep in mind that many employees do not feel comfortable voicing their thoughts in front of managers and coworkers. To collect their honest feedback, consider creating anonymous employee satisfaction surveys.
Over to You
Taking care of employees is critical for any company aiming to succeed in the sea of fierce competition.
It helps you build a strong company culture and grow a recognizable employer brand that attracts top talent.
You will also boost employee engagement and productivity. They will collaborate more effectively and provide customers with better customer service.
By building an employee-centric company, you will keep employees satisfied and encourage their loyalty in the long run.
Please, tell us how you take care of your team members. We are listening!