Research has indicated when staff members are happy, they’re more productive, more prone to deliver high-quality work, and more faithful to their employer.
It is in your company’s best interest to have happy employees. The most obvious approach to doing that is to offer higher pay than your competitors. However, higher pay doesn’t always provide the best return on investment, and not every company can afford to offer premium pay.
Furthermore, it might be a cliché, but – money does not buy happiness. Research has shown an annual income of $95,000 is ideal for making employees feel a sense of contentment, and salaries above that figure have been linked to lower levels of happiness.
Knowing that offering employees a pile of cash won’t make them happy, consider the following ways to make your staff members happier in the coming year.
Pay Employees What They Are Worth
With all of the online salary resources at their disposal, today’s employees know what they are worth, and employers looking to keep their staff happy would be wise to at least meet salary expectations.
Furthermore, you can complement salaries with attractive benefits such as low-premium, low-deductible life insurance. There are also other non-traditional benefits that many employees want and don’t cost a lot of money, including flexible work arrangements and free food.
Build an Attractive Company Culture
While fringe benefits may help boost worker happiness and overall compensation, a winning culture is a more comprehensive step toward making staff members feel happy with their jobs.
Simply put, company culture is defined by the values, mission, and work habits. A good culture has a positive work environment where staff members feel appreciated, inspired, valuable, and able to communicate freely.
One step toward building a winning culture is to empower staff members when it comes to decision making. When employees feel empowered, they feel like an influential and important part of the company. Another big step toward building a positive culture is eliminating toxic behavior, including gossiping and bullying.
A positive culture also encourages collaboration and personal connections. Team-building exercises and group projects can help everybody get to know one another better and build a strong sense of trust.
Finally, transparency is a major feature of any positive company culture. Employees should be kept in the loop when it comes to top-level company developments. Constructive feedback is essential, and achievements must be rewarded.
Encourage Career Growth
While some people are content to work the same job for decades, many want to be able to grow their careers. In a 2016 Pew survey, 87 percent of respondents said it’s crucial for employers to provide career development.
Career growth keeps staff members engaged and intellectually stimulated. Career development also gives staff members a goal and something to work toward.
We Fully Support Our Clients’ Employee Engagement Efforts
At Thompson Technologies, we work with our clients in their employee engagement efforts and connect them to best-fit candidates for their open positions. Please contact us today to find out how we can help your company.