With the labor market tighter than it has been in decades, competition for the best employees is fierce. Employers have to be innovative and forward-thinking when it comes to enticing employees to join and staywith your firm.
Prospective employees frequently scan reports on “Best Places to Work” in their target market when job hunting. Whether large, medium or small, media outlets and other tracking firms frequently release such lists ranking employers.
Our team was thrilled to be recently named “Best Insurance Agency to Work For – Gold/West” by Insurance Journal Magazine.
How can your company stay competitive in this space and make the cut as a “Best Place?”
Any owner or HR manager will tell you it is far easier and more cost effective to retain good staff versus trying to recruit new employees. One of the best ways to keep your team happy and build commitment is through an ongoing series of rewards for good work. Rewards don’t have to be only monetary; employees may value bonus time off, additional perks such as access to a health club or wellness program, increased health insurance benefits or even something like in-office snacks or meals more than a straight bonus. Important to note here is to listen to your staff: Find out via an informal survey or email chain what perks or rewards are most appreciated.
Create a Positive Work-Life Balance for Employees:
As much as you want your employees to be dedicated to their jobs, you know that a overall balance between work and home leads to less stressed and happier team members. Work with your HR team to create policies that specifically encourage employees to manage the work-life balance: Flex time scheduling, work from home opportunities, paid and unpaid leave options, employee wellness programs and family leave programs.
Engagement and Ownership:
One reason employees may leave a company or feel depressed is a sense of being ‘just a cog in the wheel’ — That the bosses/owners don’t really integrate nor care about their employee’s wishes or ideas. Create a system that encourages employees to feel like they are essential to a company’s success. If suggestions are encouraged for ways to improve productivity or efficiency, be sure to recognize those that submit valid ideas — and recognize those employees publicly.
Make the Most of Feedback:
While your staff may be accustomed to regular performance reviews conducted by their supervisors, create an even more positive and engaged work environment by encouraging those employees to also do reviews on their bosses and owners! To avoid intimidation and encourage honesty, you may wish to do these reviews anonymously via an online platform such as Reviewsnap or SurveyGizmo. While not every anonymous review will be valid and productive, it may help you spot certain trends and issues that seem to pop up across the board.
Opportunities for Education and Advancement:
Every employee should have the opportunity to refine and advance their skills — It not only makes them better at their current job, but gives them motivation to continue with their current employer and advance to the next level. Offer your team members tuition reimbursement, continuing education classes or perks like membership in a networking organization — Feeling like their boss is committed to them learning and growing often leads to a sense of pride and ownership for everyone!
Yes, you go to work because it’s a job — and you need the income. However, that doesn’t mean the workplace can’t be somewhere enjoyable as well. Schedule regular employee recreational activities such as an all-staff picnic, concert outings or sporting event group seats — allowing employees to bring families and enjoy, even if during regular work hours. An important factor here is to think about your employee base and design activities that match their desires; a group of people with young children may not be the ideal match for an all-day wine tasting excursion but may love a company-sponsored day at Legoland to allow them to spend more time with their kids too!