It’s true that most people work to earn a paycheck, and that they need that check to cover their life expenses. But they can earn their money at any number of jobs.
A paycheck isn’t enough
In today’s job market, plenty of companies are hiring, and employees can earn the same salary–or even better–down the street. In fact, employees of the younger generation often hop from job to job. Continually hiring and training new employees is expensive. But how can you keep employees over the long term, encouraging those new hires to stay with the company as they grow into experienced and reliable members of your team?
Today’s workers seek flexibility, appreciation and meaning in their job.
Give choices
Employees want control of their work/life balance. Give choices. Perhaps they can choose between a 7-4, 8-5 or 9-6 shift. Allowing employees to choose hours that allow them to see their children off to school, get to the gym, or avoid traffic can reduce stress and make them happier with their job. Or perhaps you can offer occasional work-from-home days. If required to work extra hours on a project, employees might like to choose between earning extra pay or extra time off when the project is complete.
Show Appreciation
Employers may think that a raise or bonus is the best way to show appreciation for a job well done. If so, they should think again. Today’s employees want to feel noticed and acknowledged. You can recognize good work by handing out a gift card. Or consider giving an experience, such as a free trip, a dinner out, or tickets to a local event. Even a simple thank you note can be enough to let an employee know that you noticed and appreciate their good work. The important thing here is to reward employees who are doing it right, and do it in a way that others will see and want to follow.
Create connections
Employees are more apt to stay in an enjoyable atmosphere where they feel supported and comfortable. Encourage employees to connect during their lunch hour or before/after work by hosting work-related training or non-work activities. Throw a family picnic that allows spouses and children to meet and become friends. Encourage social interaction in person or through online networks.
Salary is one part of the benefits package
Employees seek more than a paycheck from their job. To keep those new hires on your team, help them feel in control, appreciated, supported and connected.
