A happy employee is a more productive employee, and unhappy employees can actually be detrimental to the economy. In fact, the Gallup Organization estimates that there are approximately 22 million actively disengaged employees costing the economy as much as $350 billion dollars per year in lost productivity, including absenteeism, illness, and other low-morale issues. Low morale can also result in high employee turnover, which, in turn, can cost a business money when having to hire and train new employees. Furthermore, studies claim it may take a new employee 1-2 years to reach the productivity of an existing employee.
In order to keep your existing workers happy and retain them, adhere to the following three tips:
No. 1: Offer more flex time. According to polls, flex time is one of the most important, if not the most important, job perk. A work-from-home option is also high on the list for employees. Fortunately, we live in a technologically advanced society where it is feasible for many people to work from home, for at least part of the day. By allowing for flex time and/or working from home, you enable your employees to better manage their personal responsibilities, which makes for a happier, more productive employee.
No. 2: Offer constructive feedback. Everyone likes to be complimented and receive positive feedback, which, as an employer, costs nothing to give. And during times when feedback is less-than-positive, it is imperative that that feedback is constructive and given in a calm and professional manner. It is also crucial that feedback is mutual. Employees feel acknowledged and appreciated when they receive feedback, and even more when they are allowed to also give feedback. Receiving feedback from employees can help a business identify any defects affecting the business while showing it ways to improve morale.
No. 3: Offer time away from the office to do charitable work. Allowing employees to take time away from the office to do charitable work, such as helping to build a home for Habitat for Humanity, for example, can make them feel good knowing they are helping the less fortunate while reminding them of how good they actually have it. Other examples include collecting shoes for Soles4Souls, a not-for-profit global social enterprise committed to fighting poverty through the collection and distribution of shoes and clothing or volunteering to deliver food to seniors with Meals on Wheels.
Blog by Dale Myers. the NALA's Head Writer.