Here are five fundamental ways to keep your workforce engaged.
Talent retention is key to the functioning of any business, and its importance shouldn’t be underestimated by any means.
Related: How to manage employees when they're on the road
At Uwin Iwin Incentives we have a 5.5 year average length of employment, and the strategies we use internally to retain our valued workforce have proven to us that incentives work in the effort to retain talented individuals.
Why employee morale is vital
Research suggests that up to 95% of all employees leave their current companies as they feel undervalued and under motivated. This means that only a minuscule 5% pack up their office for other reasons.
The simple acts of recognising and showing appreciation for good work therefore dramatically cuts down the chances that a high performing employee will begin the process of looking for a new job.
The disengaged employee
In addition to this, bear in mind that it is a collection of individuals that represent your brand in the marketplace; a disengaged representative is likely to offer clients bad service, and won’t put in the effort to ensure customer satisfaction.
This will inevitably reflect badly on your business as clients’ associate bad service with the brand itself.
The engaged employee
On the other hand, an engaged employee will go out of their way to ensure a positive experience as they feel personally invested in managing the company’s reputation.
The stats are clear with regards to this: Engaged employees are a massive 480% more willing to “go the extra mile” compared to disengaged employees. This figure alone makes a strong case for the implementation of good incentives.
The spin-offs of engaged employees are directly translated into profits: customers that feel “looked after” will remain loyal and continue to bring repeat business to your organisation. As is well known, customer satisfaction means more business, and more business means greater profits.
5 Fundamental ways to engage your valued workforce
1. Show a genuine interest your employees’ wellbeing
Employees are not faceless robots in a chain of value production, and by recognising them as individuals who bring individual talents to your organisation you simply recognise their humanity.
2. Recognise your workforce for good work
It’s crucial to translate recognition for a job well done into something tangible, even if it is with something as unpretentious as a personal “thank-you” certificate presented at a staff meeting.
3. Be consistent and set a good example
Consistent behaviour by leadership reassures the workforce that rules and regulations apply equally to all. Acting with integrity will send a clear message that those in leadership positions are living the company’s values and ethos. Leading by example is critical.
4. Engender trust by demonstrating competence
It is rare that someone who does not have the skills to perform a role will command respect from fellow employees and those underneath him/her; it is therefore vital that competence can be demonstrated by leaders.
5. Illustrate that hardworking individuals have a future in the company
Teaching and mentoring will also demonstrate that leaders are willing to invest in employees in career development and role evolution. An employee who is mentored will feel that the company sees future potential for growth.
Related: Your staff are your brand
Put these basic principles into visible practice and the ROI will be enormously beneficial. By showing that an organisation cares for its people you show a personal dedication to ensuring that their contributions are noticed.
This will boost morale, boost self-confidence and engender engagement. It’s a win-win all round.