It goes without saying that it's vital for an organization's success to show its employees that it holds them in high regard and is mindful of their well-being. This has perhaps never been more relevant than now: Companies in every industry are struggling with labor shortages and, therefore, it's critical to retain the skilled and experienced staff members you already have.
High rates of employee turnover can be devastating for companies because they require time, money and other administrative resources that could be directed to more productive operations. Further, it's proving increasingly difficult to find talented candidates with the appropriate knowledge to fill the millions of vacancies nationwide.
One way to prevent workers from resigning is to keep them engaged. Employee engagement refers to how connected a worker feels to their workplace and this is informed by multiple factors. As Forbes explains, a primary determinant of high levels of employee engagement is whether the employee senses that management is invested in their health (both physical and mental), professional development and job satisfaction.
Organizations can demonstrate their consideration for and interest in their workforce by expressing their appreciation in tangible ways. Here, we explore three ways in which you can convey how highly you value your employees:
Monetary compensation is the most obvious route you can take to recognize good work, as well as to show appreciation. Depending on your organization's financial circumstances, you can opt to reward individual employees who have performed particularly well, or you can choose to give annual company-wide bonuses at the end of the year (or a combination of both). Regardless of your choice, adding a little extra to your worker's coffers is sure to be welcome to your team!
Everyone wants their hard work to be recognized and sometimes, all it takes to show your appreciation is a few words of thanks and praise. As Bryq notes, one great way to do this is to send an email to the relevant team or department acknowledging a worker's performance or posting on a company platform such as Slack or Microsoft Teams. You can even post on your organization's social media platforms (provided the employee is comfortable with it, of course). It's also sometimes a good idea to celebrate achievements not only in the workplace but also milestones in employees' personal lives, such as wedding engagements or the birth of a staff member's child.
The phenomenon of "burnout" — physical, mental and emotional exhaustion caused by overworking — has been discussed a lot in the past several years. Its causes are well-documented and it should come as no surprise that one of the leading factors that contribute to it is a lack of rest. You can show your staff that you value the work they do by giving them a couple of extra vacation days to allow them to get in some much-needed time to recuperate.