Keeping your good customers satisfied surely has been the primary focus this year – and rightfully so. Have you done the same with your top employees? Everyone is impacted by economic cutbacks, including those whom you’ll count on for the turnaround.
Your ‘A’ Team
Most organizations were forced to take a hard look at their employee compensation and benefits packages this past year. And, scaling back on employee recognition programs does make economic sense when budgets are stretched thin.
However, it’s not an “all or nothing” proposition. Small indulgences can register big satisfaction when you want employees to be actively engaged in the long-term health of your organization. Non-monetary incentives work!
Research shows companies with high employee morale are:
• 56% more likely to have higher-than-average customer loyalty
• 50% more likely to have lower turnover
• 38% more likely to have above-average productivity
• 27% more likely to report higher profitability
What can you do to boost morale and retain invested, valuable employees?
• Employee newsletter – Don’t rely on the grapevine to deliver organizational updates. A company newsletter gives you a regular and “official” medium to distribute vital company information.
• Employee handbook – A professional environment inspires professional attitudes. Do the same issues surface repeatedly? Best to lay out company policy in an employee handbook.
• Business cards/logo apparel – At minimum, all employees should have business cards. Those who interact with customers and the public may best represent your business in logo apparel and feel more like part of the team.
