How to Show Staff They Are Valued – On A Budget
15th June 2018
Did you know that 40% of workers, across a range of industries, feel under appreciated by their employer? You might not think this a particularly worrying number – as long as they’re getting the job done, right? Actually, no. Employees who feel undervalued are more likely to waste time during the working day (up to two hours per person per day in some cases!) therefore losing your company money.
A staggering 81% of people polled said they’re more motivated at work when their boss shows them appreciation for a job done. And while no one in their right minds is going to turn down a pay rise, feelings of being appreciated also arise from being given interesting projects to work on and being included in decision making.
The good news is there are some simple ways that you can show your employees you appreciate them to improve their productivity – and your bottom line!
Most people enjoy a team lunch or Happy Hour – plus it’s a great bonding experience. You don’t have to spend a fortune at an upmarket steak house or wine bar – your local curry house or pub works just as well. You could also take an employee who’s gone above and beyond out for a one on one lunch, or even just a coffee. Unexpected small treats and simple things like a thank you note also ranked highly on employee lists of things that made them feel valued at work.
On a professional level nothing says you’re invested in an employee’s career growth by offering them opportunities to advance; think training or eLearning courses. Spreading the word about a job well done is also important. Share achievements with other members of staff and, of course, with your employee’s team. Not only will this make them feel valued but it also impacts on other employees, helping to motivate them and reinforcing your positive company culture.
Has a member of staff really surpassed themselves? Even if you’re not in a position to offer them a salary raise, giving them a new job title or a new role or responsibility can go a long way to showing appreciation (and increasing their productivity!)
The good news is that it doesn’t matter whether you’re a large corporation or a small startup – you don’t need huge cash reserves or swanky gym memberships to retain talented staff. You just need a little humanity. Last but not least, don’t forget to reward your unsung heroes; just because someone doesn’t shout about their achievements doesn’t mean they don’t deserve a pat on the back too.
We’ve developed a guide on how you can manage performance and reward staff regardless of the size of your company. Check out our guide here.