When talking about investment in the business world, our minds can go to various places. Business owners can invest in marketing, product development, customer outreach, and much more. But something we don’t talk about enough is investing in your employees.
And that should change. After all, good employees are hard to find yet easy to lose. Opportunities can come from all sides, and if you don’t invest in your employees and show them you understand their value, you’ll face high employee turnover.
To avoid that, here are some ways you can invest in your employees.
How about a Gift?
Corporate gifting is far from a new concept but business owners often think of it as giving gifts to clients and customers. However, your employees deserve a gift as well, and there are various ways gift giving can be a great way to invest in your employees.
Here are just a few reasons why you should consider giving gifts to employees:
- Decrease employee turnover. As much as 44% of employees switch jobs because of not getting adequate recognition for their efforts. A thoughtful gift will show that you recognize and value your employees, which will make them more likely to stick around.
- Increase productivity. This recognition will also show your employees that their hard work is recognized and appreciated. This will boost employee morale and motivate them to keep up the good work and possibly even put in more effort.
- Improve satisfaction. When someone receives a gift, it has a positive effect on their mood. And when the people who work for you are happy, they won’t just be regular employees; they will also be the most loyal brand ambassadors you could ever hope for.
If you’re stumped for a gift, Hoppier has some interesting team gift ideas for you to consider. Take a look at them and you will find something perfect for your workplace.
Organize Training Sessions
Today’s employees don’t want to be stuck in a job that doesn’t provide them with any growth opportunities. Rather, they want to expand their talents and have a chance to climb up the corporate ladder with the help of their management.
That is why training sessions are a great way to invest in employees. Not only will they provide your workers with the skills they need to progress within the company, but they will also increase motivation, morale, loyalty, and productivity.
When an employee is working towards a promotion, they are willing to put in the extra work and increase their productivity. This way, you will have an employee who wants to show they are worthy of a higher-paying position. As a result, you won’t have to look elsewhere to hire someone new.
Additionally, these training sessions provide workers with the opportunity to develop individual skills that allow them to achieve both their personal and professional goals. So invest in a properly structured group coaching program and show your workers that you are more than willing to help them grow and prosper.
Offer Them Benefits they are Interested in
For most organizations, when they want to provide employees with a benefit or incentive, they often go with a monetary reward. However, your employees work for their paycheck, and adding more money on top of that paycheck may seem like a good reward, but it isn’t a personal gesture.
In fact, 65% of employees prefer non-cash incentives. Your employees would be much happier and more productive if they see the incentives and rewards you’re providing them with are tailored to fit their specific desires and needs.
Let’s say for example your employees are putting in a lot of overtime hours at the office. A nice benefit for them would be to give them an extended lunch break where you will provide professional catering.
Another example would be if you have a high number of employees who are parents. In this case, a benefit they would greatly appreciate would be free childcare services. So think about what your workers want and need, and cater your incentives accordingly.
Talk to your Employees about Mental Health
The sad truth is that very few businesses realize the importance of mental health within their organization. There’s no type of investment that will help your employees if their mental health is suffering.
That’s why you should strive to provide your employees will all the necessary support they need to ensure they are healthy not just physically, but mentally too. Talk to them about burnout, anxiety disorder, overworking, and stress management.
If you want to take it one step further, you can pay for professional psychological support that will ensure your workers always know they’re well taken care of.
Where would your company be without its employees? A good employee is hard to come by, so when you find them, you need to do everything in your power to show them that your organization is a good place to work at. So invest in your employees and they’ll be much more likely to stick around.