The COVID pandemic had a massive impact on society. While that impact was mostly negative, there is a silver lining in the tragedy. Namely, the huge profit losses and employee turnover made a lot of companies less risk-averse.
Previously, finding a nice job with good benefits and decent pay was next to impossible. Employers weren’t willing to onboard new hires when they could just relegate new responsibilities to existing ones, at half the cost. But, since the pandemic saw many companies lose their workforce, there has been a desperate demand for new hires.
The increasing demand means more and more companies are willing to offer better benefits to draw in potential employees. As a result, a lot of workers are considering leaving their old companies for something better.
This is, obviously, an issue for any business looking to grow and develop. A high employee turnover is bad not just for the company’s image, but for its budget. The average cost of training a new hire is around £30,000. So smart business owners should do everything in their power to keep the employees they have.
Fortunately, there is an easy way to do just that — staff engagement. By implementing a few changes and giving employees extra benefits, a company can raise employee satisfaction tenfold. As a result, they’ll be able to earn a solid reputation as a trustworthy employer, while also avoiding the pitfalls of losing their hardest workers.
A Crash Course on Employee Retention
A lot of companies want to push the idea that their staff is one big family. They emphasise flexibility, pleasant work culture, and being a team player. While this sounds nice in theory, most employees don’t buy it.
Employees come to their workstations to do just that — work. They understand that getting fired at any moment is a possibility and that they’re valued exclusively for their ability to perform tasks, not their personal virtues. So referring to work as “family” primes employers to expect their workers to do favours for the company without compensation.
As a result, employees end up feeling like their company is taking advantage of their hard work. It also incentivises them to go out looking for greener pastures.
This is very discouraging, especially for companies with a limited budget. Hiring new employees is expensive and time-consuming. Therefore, it makes much more sense for businesses to try and keep their current employees.
When it comes to increasing staff engagement, these 3 strategies are the best way brands can boost employee satisfaction and protect their workforce!
1. Onboarding
Before a new hire can become a valued team member, a company has to onboard them first. A brand can create a personalised welcome kit that’s uniquely suited to its business. The package can include essential instructions, as well as various branded merchandise. Promotional pens, mugs, or T-shirts go a long way in engaging new hires and welcoming them to the team.
Related content:
Help New Hires Get to Know Your Brand Through Welcome Kits
2. Tangible Benefits
Pointing out that employers need to compensate their workers for their work seems silly. But a surprising number of companies don’t do this. Generally speaking, most employees want to advance in their professional careers. And if a company doesn’t allow them such opportunities, they will find a business that will.
So a brand must regularly offer raises, bonuses, as well as rewards for hard work. Simply put, happy workers equal a successful business.
3. Comfort and Convenience
Engagement doesn’t stop with new hires. Companies have to constantly engage with existing employees if they want to keep them. First, they should ask for feedback. Keeping an open communication channel with the team is the best way to understand what’s working and what isn’t.
The next step is to make sure employees are comfortable. For instance, proper safety gear and hi-vis apparel are how construction workers feel safe and comfortable doing their jobs. Retailers coming off of the Black Friday rush will be exhausted and stressed — so they would appreciate a small treat platter filled with snacks to lift their spirits.
Small gestures of good faith may seem insignificant to a big corporate entity — but to the people on ground zero, they can mean the world.
Key Takeaways
In a post-COVID world, keeping employees is more important than ever. Hiring and training newbies can cost a company thousands down the line. Not to mention that a high turnover rate can negatively impact a brand’s reputation.
So, to rectify this, companies need to constantly keep their employees engaged. Be it with good benefits or corporate gifts; happy employees are sure to bring a company good revenue.
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Cracking the Code of Personalised Gifts: Three Foolproof Strategies to Delight Every Employee
If you need even more info about staff engagement or any other related subject, we are here for you. Give us a call at 0800 0148 970 or simply email us today.
