Today, employers are facing a unique situation. The Great Resignation led many professionals to leave their positions, often unexpectedly. As a result, taking steps to retain employees is even more critical, particularly while the hiring landscape remains challenging.
Showing appreciation to employees that stay is typically an essential first step. Overall, employees that feel appreciated are far more likely to remain in their roles. By demonstrating that you value their loyalty, you’re creating a positive culture and boosting morale, leading to longevity.
Fortunately, showing your appreciation to employees who stay is relatively simple. Here are some techniques you can start using today.
Say Thank You
In many cases, simple gestures are compelling. You make gratitude a part of the culture by going out of your way to openly and regularly thank employees for their efforts. There isn’t any doubt whether their contributions are seen by management or valued. Plus, it only takes a moment to say, “thanks.”
When you show your appreciation this way, try to be specific. Saying, “Thank you for handling [project, task, responsibility]” instead of “thank you” lets the employee know that you’ve noticed a particular effort on their part. That makes the encounter more meaningful, leading to higher morale than a passing “thanks.
Offer Meaningful Rewards
Rewarding employees for a job well done is a classic way to showcase your appreciation. However, you need to ensure that any reward you offer is genuinely meaningful to your team. Often, your best way to do that is to get to know your employees, allowing you to gather insights into their needs, preferences, and priorities.
Additionally, make sure that any rewards don’t require an after-hours commitment. For example, while treating everyone to dinner may seem like a nice gesture, it can interfere with their personal lives, harming work-life balance or creating a challenge they’ll need to navigate. Since that’s the case, it’s generally best to ensure any rewards don’t require gathering during their off-time.
If you aren’t sure where to begin, extra paid time off is almost universally appreciated. Otherwise, you could opt for a catered lunch over a dinner out, as that allows them to enjoy a nice meal without an extra time commitment.
Give Out Pay Raises or Bonuses
Raises and bonuses are a classic way to show your appreciation for your workforce. Plus, it’s an approach that’s typically guaranteed to be a hit with your employees.
A boost in income can relieve financial woes or make achieving personal financial goals more manageable. Additionally, it’s an explicit acknowledgment of the value they provide.
This option is particularly vital if current salaries are below industry standards. While money isn’t the only concern professionals have when choosing employers, it’s always part of the equation. By getting in line with similar businesses in your area, there’s less of an incentive to look elsewhere, making retention easier to manage.
Ultimately, all of the approaches above are worth considering. If you’d like to learn more about how you can showcase your appreciation for your employees that stay, the team at The Advance Group wants to hear from you. Contact us today.