When you own a business, there are many aspects of it that demand your attention and your money. Knowing what to invest in can be difficult, but there’s one area where you should make sure you focus a significant portion of your money. Investing in your staff will help you to make sure you keep your best employees and attract new ones who you will also want to stay. If you put money into keeping your employees happy and making sure they can do their best work, you can raise productivity and the quality of the products and services you deliver. Try investing in your employees in the following ways.
Help to Create Their Personal Brands
Just as you develop your business’s brand, it’s also worth investing in your employee’s personal brands. You probably spend time working on yours, but helping them develop theirs also has advantages. It is becoming increasingly important for employees to be seen as individuals when communicating with customers, and not just a faceless voice of the company. Promoting your employees as individuals can help your business by presenting the faces behind it. You can do things like assisting your staff with building social media profiles and LinkedIn pages. You can talk about your employees, mentioning when they win an award or even if something important happens in their personal life.
Offering Training Opportunities
Offering training to your staff is one of the most important things you can do. People want to know that they can grow with you, and this might be one of the factors they use to decide if they want to stay with your company. Training helps to improve performances and also ensures that everyone is up to date on the latest practices in the industry. For example, Human resource training, such as that provided by Croner, is concerned with organisational activity aimed at bettering the job performance of individuals and groups in organisational settings. After training, you can notice a marked improvement in how your employees are performing and perhaps levels of productivity too.
Provide Unique Benefits
There are certain benefits that your employees might expect to receive as standard. However, you can also consider what benefits you can offer that might attract new employees, as well as get people to want to stay on with you. You can think of benefits that might be appropriate for your company culture. You could offer anything that might work for your business, from gym memberships to free holidays. The benefits you offer don’t necessarily have to be anything too extravagant. It could be as simple as cake in the breakroom on a Friday.
Be Flexible with Personal Time
For many people, balancing work with their personal lives is one of the most important priorities. An employer who can help them to do that is often one that they don’t want to leave. If you’re able to value your employees’ time and perhaps be flexible with how they use it, it can be a great bonus for many. For example, you can take a relaxed attitude to time off when employees are ill or make sure that sick pay is available. You could make it easy to book holidays or even offer flexible working hours so people can get their work done when it’s convenient for them.
Help Employees Expand Their Networks
It might seem strange to help your employees expand their professional networks. After all, it could lead to job offers from elsewhere. But if you invest in your employees, you can help to ensure they want to stay with you, even when other offers come along. With this in mind, helping employees to grow their network of contacts can have benefits for your business. It can help them find new clients, improve relationships with existing ones, or give them just the right contact to help them out in a sticky situation. It can mean increased opportunities for your business.
Encourage Health and Wellness
Paying attention to your employees’ health and wellness can also be beneficial to your company. You can try to reduce the amount of time people take off for illness, as well as help to lessen stress among your staff. Healthier and happier employees can help your business to function better. There are lots of ways to promote wellness, from a work running club to healthy snacks in the breakroom.
Investing in your employees is one of the most important things to do if you want to grow your business. It’s the best way to get them to stay and care about your company.
These all sound good but I think number one is pay them well. If the pay is slightly less than the competition but they get a lot of perks then no biggie. But if there’s a large pay gap then it would require a significant amount of perks to keep them. Even then, it’s no guarantee.