As a leader of an organization, the best thing that you can do to make your employees stay is to motivate them and give them the rewards that they deserve for the hard work that they contributed for the success of your company. This motivation will result to employee retention.
Motivation comes from the rewards that you give your employees. There are two different kinds of rewards: the intrinsic and extrinsic rewards. Intrinsic rewards are psychological rewards that fulfil employees’ self-morale and self-worth by achieving higher goals in their careers. Extrinsic rewards refer to the things you give them in exchange of their hard work. Examples of extrinsic rewards are money, bonuses, trophies, certificates of appreciation, etc. These are just some of the many general things that can motivate your people.
The source of motivation of every employee is different from the others. As their employer, you must know everyone’s needs, how to give it to them, and help them earn it. Employee retention programs require motivation tools for every employee. Here are some tips you can consider:
Make sure to include your employees in the company’s plans and decisions for the improvement of the organization. Be transparent to them so that they will know that you trust them. Opening up to each other will create good communication between you and your employees.
Make an effort in improving or decorating the physical arrangement of your workplace. It has a great effect on employees’ mood if you have a clean and comfortable workspace. You may also put up motivational quotes in your walls so employees can see them every now and then.
Give free items or incentives to them. Six Flags Magic Mountain in California, USA gives their employees hygiene products and foods every week or month. It awaits them early in the morning before they go to their assigned workstations. This will provide motivation for them to do a good job for the whole week.
Recognize hardworking employees every now and then. Having an “employee of the month” challenges them to do their work better than the others. You can also recognize them by giving a simple compliment or a letter appreciating every single good work they did.
Reward your employees by giving them the compensation and benefits they deserve. This will boost their drive to give the amount of work that you need in your company. If you compensate them well, then they will also do their job well. You can also reward them by giving them a few rest days after a huge amount of work you give them during the week or month. Giving them small gifts will also make them feel special.
Develop and build good working relationships with your employees. It is not good to make a bad impression to your employees. You can still have fun with them, but always maintain the authority you have with them. Always hear their complaints and suggestions because you might also need them. Be open in listening to their problems especially if it is happening in your workplace. This might solve the relationship problems of some employees.
You must know who your employees are. With this, you can have a personal connection with them. You can be friends and have a comfortable relationship with them. Therefore, you can accomplish your work smoothly.
If you can achieve these things, you can motivate your employees and it will result to employee retention. As a leader, you should not only direct or control your people. It is also your responsibility to bring out the best in them by giving them what they deserve. These motivations will help you have high employee retention rate in your company.