How to use reward and benefits to create a culture of motivation
With nearly 70 per cent of businesses admitting that they struggle to retain top talent, according to Aldermore Future Attitudes Report (2018), it’s more important than ever to look at the culture of motivation and engagement in the workplace.
Losing staff means having to spend additional time and resources searching for new employees and training them up, while for those employees who stay put but are feeling unmotivated, the quality of their work is also likely to suffer as a result. By putting measures in place to ensure that your business is seen as an attractive place to work and that your employees feel valued, you’re less likely to see them heading for the door.
Reward and recognition
Everyone likes to be recognised and rewarded for a job well done. Although a good level of work should be expected as standard, it’s important to acknowledge those who have gone above and beyond. It doesn’t necessarily need to be a financial reward such as a pay rise or bonus either – although these are never unwelcome! Smaller tokens of appreciation such as taking the team out for a celebratory meal or offering an extra day of annual leave will demonstrate that your employees’ contribution to the business hasn’t gone unnoticed.
If an employee feels as if you’re invested in their future, they’re more likely to stay. A lack of career progression is one of the main reasons that people jump ship, so investing in education can be an incentive. By finding out each employee’s career goals and areas where they hope to advance, you can tailor a training plan around it – online courses, workshops and budgets to attend conferences are all accessible ways to show your employees that you value their future progression. Not only is it a great motivator, your business may also benefit from their new skills.
Although employee benefits packages are standard in most businesses now, if you’re offering perks that employees aren’t going to use, it won’t act as any kind of incentive. In the past few years, workplace wellbeing has moved higher up the agenda for both employers and employees. Presenteeism and absenteeism are major concerns for employers, so it’s imperative that your business puts wellbeing centre stage.
You can start by offering simple, quick-win benefits such as subsidised gym memberships and free fresh fruit to start integrating workplace wellbeing into the working culture. Taking it further, offering a Health Cash Plan that covers everyday needs and allows employees to claim money back on necessities such as dental check-ups, eye tests and physiotherapy will encourage employees to address any health issues before they potentially take root and become chronic.
There’s a strong link between workplace wellbeing and engagement, as employees who aren’t feeling their best aren’t going to be performing their best. Although as an employer you have a duty of care, by offering a benefit like a Cash Plan you are demonstrating to your employees that you are doing everything you can to support their wellbeing. A workforce that feels cared for will be more motivated and engaged – ultimately driving productivity and boosting your bottom line.
This article was provided by Health Shield.
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