An article by PeopleKeep calculated the average costs of replacing an employee, based on a variety of circumstances, including wage and position of role. While the numbers vary, the bottom line is clear: employee turnover is expensive...up to 213% of the exiting worker’s annual salary.
This is why employee retention has become so important for small business owners. But how do you keep your workers happy and satisfied? A recent piece in the Wall Street Journal suggests you should create an environment where workers feel respected and appreciated. With that in mind, here are five simple ideas for do just that:
1. Celebrate the Big Days
Birthdays. Work anniversaries. The closing of a big deal. Whether it’s a personal milestone or a work-related achievement, use the occasion to make your employee or employees feel special. Cater a meal. Order a cake. How about a day off (that doesn’t count against their personal time off)? Just make sure you know your audience! If you’re celebrating the birthday of someone who doesn’t love the spotlight...a singing GoodFella-gram (sung by a Joe Pesci impersonator) probably isn’t the way to go.
2. Help Them Grow
You don’t need to buy a cake (or hire a movie-themed singing telegram) to show your appreciation. Career-based incentives like offsite leadership-training programs, online courses or succession planning programs are a terrific way to show commitment to your employees, making them feel like they’re valued members of your team. You’re not just investing in your workers...you’re investing in your company as well, by improving the quality and capabilities of your staff.
3. Say Thank You
Your mother was right. It’s important to say “thank you.” A simple acknowledgement for a job well done makes a noticeable difference in someone’s day. You’re letting them know you appreciate what they’re doing, and it’s so easy to do. In fact, stop reading this article right now and thank one of your workers. We’ll wait for you ...
... There. That felt great, right? And there are so many ways to thank someone. Handwritten notes, social media shout-outs, or how about a gift card for the employee and their significant other? These gestures do more than just give thanks, they gain loyalty.
4. Surprise Munchies
Food, glorious food. There are songs about it. There are autumnal holidays centered around it. People like food. So do your employees. Surprise them with a meal every now and then to let them know you appreciate them. Morning donuts, a pizza delivery for lunch, an office trip outside to the food truck parked near your business – these are all great ways to invigorate the office, and fuel them for the rest of the work day. (Just make sure you bring coffee with those donuts. That 2:00 sugar crash is no joke).
5. Become Part of the Community
A meaningful way to bring a company together is to collectively take an active role in local programs or charities. Donations and sponsorships in the name of your company are great, but when you find a way to involve your employees, it becomes more inclusive and consequential. Whether it’s a simple clothing drive at the office or a company workday spent at a food bank, working with your staff on civic-minded activities can make a positive impact on both your office and the community.
Here’s another employee appreciation idea: make sure their Internet, phone and cable TV solutions are up to speed. Contact us today to learn more about our suite of communications solutions and how we can help your small business operate more efficiently and productively.