Recession may be looming on the very close horizon, but there still remains a worrying skills shortage in the job market. Unemployment is at a very low level, and there is a very real need to retain your best employees who are being consistently harangued by your competitors.
To recession-proof your company as much as possible over the next couple of years, you need to look after your workforce. The happier your employees are in their workplace, the higher the retention levels and the more productive they are.
Some studies indicate that happy employees are actually about 20 percent more productive, that happiness boosts sales by 37 percent, and that jobs are performed with greater accuracy of up to 19 percent. 29 percent of people who were quizzed about why they left their previous jobs claimed that they did so because they were unhappy.
Implementing a number of strategies does not have to be expensive – particularly when everyone is struggling with rising costs. As a result, we have highlighted a number of ways that can help elevate your workforce’s overall sense of well-being without breaking the bank.
Give Them Decent Facilities
When you are spending eight or more hours a day every day working for someone, it is often the little things that make a difference – and ensuring that the facilities they have to use are fit for purpose is one fundamental way. It’s the simple things – somewhere to hang your coat, clean toilets, decent parking. As costs rise more and more people might take to their bikes to save on petrol, so make sure you install some Bison Products bike racks so that their bikes are secure. Make sure you have a suitable space where employees can sit and take a break in comfort.
These are some of the things that can get lost as pressures increase, so make these fundamentals an essential of everyday operations.
Pay Them What They are Worth
The cash may not be around at the moment for bonuses and pay increases, but you should still ensure that your employees are paid industry standard as a minimum. Don’t cut wages to save a few bobs – your competitor is standing on the sidelines just waiting to scoop up any disgruntled employees.
Encourage Responsibility
Understanding and accepting responsibility is a key trait in an employee optimizing productivity, progressing professionally, and engaging in a positive way in the workplace. No matter where in the overall company structure someone works, every single employee should be encouraged to have agency over their own productivity. Naturally, some will need more support than others, but the really good employees will recognize the extra recognition and respond accordingly.
This is why training and professional development is an area that you should not compromise on. If you don’t have big budgets for training, look internally to individuals within your organization who could take on roles as mentors or ‘buddies’ to help others who may be newer to your organization, or struggling in some way.
Maintain daily check-ins
The emotional well-being of your workforce is going to take a bit of a battering over the coming weeks and months. Make a point of personally checking in with as many people as possible on a daily basis. Take time to listen to them as well. While they may be reluctant to open up at first and reply with standard politeness, there may be some real issues going on behind the platitudes. Putting in place a good EAP Employee Assistance Programme will ensure you have the resources available to signpost that employee towards some help and support.
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