It costs thousands of dollars–if not tens of thousands–when an employee quits. There are recruiting expenses not to mention the value of your own time spent screening and interviewing candidates. What about the money lost on productivity as you try to bring someone new up to speed? Raises, time off and promotions are the currency we most often think of, but they are limited resources–and they aren’t the most critical motivators.
Here are some of the top ways to keep employees happy, according to the Huffington Post.
Value Their Time. People want to believe they’re doing something meaningful and making a difference. Something as small as making employees wait while you finish up phone calls or showing up late to staff meetings you schedule sends the message that they don’t really matter.
Help Them Develop a Growth Plan. Look out for your employees’ interests–not just your own or the company’s. Doing so will breed loyalty. Take the time to get to know their aspirations and give them relevant assignments. They should view your company as a place where they can grow their careers.
Don’t Surprise Them. You should keep your employees informed about major business happenings or dealings early on and involve them where it is appropriate. No one likes to be kept in the dark, constantly reacting to new developments that are thrown at them–or even worst, office rumors.
Give Them Unexpected Rewards. Do more than just host the year-end “holiday party.” What can you do throughout the year to bolster morale? Just finished an important but time-consuming project? Â Give them the afternoon off. Rewards tend to mean more when they’re unexpected.