What motivates you to go to work each day? Is it the sense of having a purpose, the act of working towards a goal, autonomy or is it your amazing colleagues and work environment?
How much of it is because you are rewarded for doing so?
As an employer, the responsibility sits with you to ensure your employees’ feel motivated and fulfilled, which in turn allows them to truly succeed at their work.
So how do you as an employer achieve this?
In a recent survey, results showed that the best way to ensure your staff work to the best of their abilities is all through employee incentives.
In June 2015, Employsure conducted a client survey with the results revealing the best ways to retain staff. From 461 results, the top two methods for retaining and incentivising staff were providing flexible working arrangements and awarding pay increases and bonuses. This goes to show employers need to find the happy medium between personal and financial incentives.
What is the best method for retaining staff? Survey respondents stated the following.
Most effective method – % of employers
Flexible working arrangements 37%
Pay increases and bonuses 21%
Other (not specified) 21%
Training 16%
Social Events 2%
Promotions 2%
Improving health and safety 1%
Employsure’s top tips for retaining staff.
If you agree to a request for flexible working hours, be clear the arrangement is subject to review if conditions within the business change. Regularly review how the employee and business are faring with the arrangement in place.
It is important to balance the needs of the employer and employee with flexible arrangements. If an employer cannot accommodate a request, they should have a proactive discussion with the staff member to find a compromise that works for both parties.
Remuneration is an essential tool in holding onto staff. Let employees know when pay rises will occur and be sure they understand bonus structures. Implement a clear framework to assess performance and communicate this clearly.
Autonomy is key to staff retention. Employees want to feel in control of the work they are performing and have a voice in how they perform their work. Include staff in problem solving and give them the opportunity to develop creative solutions to problems or issues the business is facing.
Offer training where appropriate. However, if staff attend off-site courses, have a written agreement in place stating that payment for training will need to be paid back, by the employee, should they leave the company within a certain time after the course is completed. This agreement will need to be signed by the employee, and a copy of the signed agreement should be kept on the employee’s file.
Employsure can answer any questions you have relating to employment obligations and health and safety. Call us today on 0800 568 012.
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