Keeping your staff motivated is a key factor to maintaining business growth and stability. It helps ensure you retain your best staff and makes it more likely that they will go above and beyond for your business. Get it wrong and your business could face high turnover, a poorer quality of work and a loss in productivity.
But how do you keep staff motivated? In this article, we’ll explore some of the best ways you can boost employee motivation and retain your best staff.
This guide is designed to outline some of the options available and may not be suitable for all businesses so always consider your circumstances when making a decision on what benefits to use.
For more information contact your dedicated RIBA advice line on 0844 561 8133 and quote 99801
Using pay to motivate staff
We will start with an obvious one. By ensuring your staff get paid an amount that sets you against competition could be a way to retain and motivate your workforce. There are many tools available for benchmarking the salaries you offer against competitors and it will allow you to weigh up whether you are able to offer more to your key staff. The last few years have made individuals question whether having more money in their pay cheques is more beneficial than other benefits.
This isn’t always possible however and is entirely dependent on the current financial circumstances your business faces. With this in mind, there are some other practical and creative benefits you could offer employees.
- Commuting and costs
With rising costs in fuel and general transportation, options such as flexible or hybrid working are an increasingly popular option for employers and employees alike. This allows employees to potentially reduce the cost of commuting and allows flexibility around their personal lives.
- Family Friendly policies
There are a number of instances where leave is a statutory right. These include maternity and paternity leave. As an employer, however, you can go beyond these minimums in your policies.
- Savings & Discounts
Offering discounts on some of your employee’s purchases could have a positive impact on their pay packets by reducing the cost of outgoings. Many employers now see this as a smart choice by offering exclusive discounts on purchases through staff portals, delivered through perk partners.
- Pension contributions
Many employees are motivated by the nest egg they are building for retirement. Although this is a requirement for employers, many choose to offer enhanced pension contributions so consider this as an option when building your reward offering.
- Health & Insurance
A healthy workforce goes a long way towards a happy and motivated one. Consider health insurance which includes support with the mental and physical health for your employees. You could also Give employees access to mindfulness and meditation apps and counselling services that boost the well-being of your team in and out of work.
- Training and development
One of the biggest reasons for employees leaving a business is due to “stagnation”. This is where an employee doesn't feel like they are being seen or heard or are not getting access to personal or professional growth. The benefit of training and development is two-fold. It showcases you have a vested interest in them developing their skills but it also adds more value to your business by ensuring employees are better equipped to perform their duties.
- Communicate changes with staff
Most importantly, as with any decision made, it is important to communicate, document and review with all employees. What works for one employee may not necessarily work for another. Keeping an open line of communication with your employees can help boost your staff retention, improve employee motivation and company culture.
Need help motivating your staff?
Croner has a team of award-winning HR consultants who are specialists in their field. We have a team on hand who can help you increase employee motivation and help you take on employee engagement surveys and their feedback.
We've been helping businesses for over 80 years and our advice line is open 365 days a year, 24 hours a day.
Speak to a Croner expert through your RIBA advice line on 0844 561 8133 and quote 99801