Bonus schemes are one way of showing your staff how much you appreciate them. But there are other ways to improve the morale of your team without having to dip into the corporate coffers.
Provide Aims to Match Ambitions
Nobody likes the idea of being stuck in a dead-end job. Workers who get the most out of their jobs generally have a sense that they’re working towards something, such as a promotion. Build a workplace culture that all employees at all levels within your organization know that there is a system in place to reward their efforts. This will ensure that the day-to-day frustrations that all workers experience don’t develop into greater sources of stress.
It’s also a good idea to find ways to acknowledge and reward the efforts of employees who go above and beyond the call of duty. This will not only boost their own self-esteem but can also inspire their colleagues who will be eager to follow in their footsteps. Make it a habit to say “thank you” and “well done” at the end of every project to ensure everyone involved knows how valuable their contribution has been.
Focus on Safety
In his first meeting as the newly appointed CEO of the Aluminum Company of America, otherwise known as Alcoa, Paul O’Neill defied convention. Rather than talking about improving profit margins, expanding the product range or reaching out into new markets, he told the mass of Wall street investors, journalists and stock analysts that there was only one thing on his mind: Safety. His goal, he explained, was to make Alcoa the safest company in America.
Within a year, the accident rate at the company had fallen dramatically and profits had doubled. By the time O’Neill left, more than a decade later, the company was making five times as much profit as it had when he started and the accident rate was a mere fraction of what had been. Morale among the workforce was also significantly higher. According to the OSHA, companies that invest in workplace safety and health see lower medical expenses, illnesses and compensation costs.
Sending staff on safety seminars and providing adequate health and safety training shows you care about the well being of your employees. And it helps the entire company focus on areas of potential concern.
Respect the Work/Life Balance
Always remember that your employees have lives of their own outside the office or the factory floor. For small business owners in particular, the desire to give absolutely everything to pursue their dream may come naturally. But you shouldn’t expect all those around you to feel the same.
There will always be unexpected circumstances that form the exception to the rule. But if you always expect your employees to choose their job over their lives, resentment will build rapidly. Flexibility is the key. The happier your staff are in other aspects of their lives, the happier they will be at work.
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