Employees of HR departments work with huge amounts of data, and if analyzed using machine learning and artificial intelligence, this can bring tangible benefits to the business – both intangible, expressed in increased employee engagement and loyalty, and tangible, real money.
Hiring a new employee instead of a resigned employee, according to analysts at Work Institute, costs the company 33% of the latter’s annual salary, that is, the more valuable a specialist, the more difficult and expensive it will be to find a replacement. Here we will explain the best ways to motivate your employees.
To be a Leader is to Lead
It’s easy to say that everyone builds their own career. It doesn’t work without giving employees feedback, supporting them, and explaining what opportunities there are for growth in the company. Rewarding employee goals, monitoring their performance, and communicating with them on a daily basis can be great motivators.
Let’s start with the basics. The standard set of benefits – voluntary medical insurance, a canteen, a subscription to a fitness center – is not necessary for everyone, so an important trend in the HR industry is a personalized approach to remuneration. One interesting and absolute reward that you must provide to your employees is you should take care of your Office’s essential items, such as ensure comfortable chairs and desktop tables. Make sure your office fit outs are in a well condition and up to date as per the requirement of your office staff and workers.
Companies are increasingly providing a flexible social package so that an employee collects his “basket” of incentive bonuses. The better he works, the higher the chances of getting what he needs – improving his language level, going to an international exhibition, or getting an extended certificate for medical care. Tatiana Burtseva, Development Director of the European Legal Service, talks about the pros and cons of this approach.
Work should be money-making – and fun, especially when it comes to young millennials and Gen Z employees who pioneered home offices. But these are not only poufs and tennis tables, but also effective layouts, proper glazing, thoughtful zoning, functional common spaces, and workplaces. Elena Polukhina, head of the commercial real estate department at Stone Hedge Group, told me how to organize an office with a “human face” and why the quality of the workplace is as important as the salary and a good social package.
If Money is Not Happiness, Then What is It?
Public praise and gratitude no longer work, only events within the company and congratulations on significant dates are even more useless. Employees want to learn – at the expense of the company, not just go to the gym or do yoga. Normal communication is better than anti-stress zones. Work-life balance is important for 80% of employees.
If you think that overtime is the initiative of the employee himself and there is nothing to compensate for, or that the possibility of unpaid overtime was discussed when hiring and the employee agreed to this, it’s time for you to repeat the material for motivation. Hays experts questioned employers and employees about their attitude to traditional ways of motivating and identified ways to help motivate the team and reduce stress at work.
Implement Constant Feedback
Employees need feedback to know where they are and how they work. For you, this means that the organization is moving forward as fast as it can provide feedback quickly and efficiently. You cannot wait for an annual meeting or monthly one-on-one meetings. You should provide employees with as real-time feedback as possible.
Sounds pretty simple in theory, but in practice, it is much more difficult. Research has shown that the problem is that most managers don’t like to give feedback, but employees desperately need it. Remember, they want to grow and become better at what they do.
Employees are working too hard. Managers want more productivity, but overwork is not the solution. Research shows that most employees experience stress at work. This is a huge problem. You don’t want your employees to burn out. We need to be more compassionate in our work. We need empathy to understand that sometimes what we ask employees to do is simply unrealistic and unfair.
Live Your Core Values
It’s important to have values and a mission, primarily because people don’t buy what you do, they buy why you do it. If you have core values and a mission, it is very important that you remain consistently true to them. Everything you do (hiring, firing, hiring, making decisions, etc.) should be guided by these values. Too often, companies lose their value over time. The staff will notice this and they will disappoint you again. You must remain true to your values, do not try to imitate them.
We hope the suggestions we have shared in this article were helpful and relevant.