As a small- to medium-sized business owner, you know that people are a company’s most valuable resource. But how do you make sure your employees stay with you for the long haul? Here are a few ideas for building a happier workforce.
Continuous learning is one of the best employee motivators, so don’t underestimate the impact training has on employees and their happiness.
According to Jamie Gruman, a business professor at the University of Guelph, in Guelph, Ontario, “Helping new hires adjust at the start empowers them to achieve their potential later on.”
Tailor Your Management Style.
Some employees may need (or want) more coaching, whereas others will desire (or require) less. It’s important to modify your management approach to fit different employee personalities. Great leaders think about each key employee and determine the best way to lead him or her.
Focus on Recognition.
A simple “thank you” can go a long way. In a book called The Carrot Principle, Adrian Gostick and Chester Elton explore a study of 200,000 employees over a decade that showed that the most successful managers provided their employees with frequent recognition. In fact, managers got significantly better business results when they offered employees recognition in the form of constructive praise rather than monetary rewards.
Salaries and bigger benefits are helpful for retaining your star employees. But for many small- to medium-sized businesses, creating opportunities for education, facilitating better communication, and making employees feel valued are equally important.And when you make an effort for your people, they’ll make an effort for your business.