A 2018 Workforce Study Report by LinkedIn revealed that about 93% of workers would work in a company longer if it invests in their career, according to statistics on TINYpulse. Employees are the single most essential assets in your company.
And as the talent competition continues to grow, finding remarkable workers is challenging, and what’s more, they’re harder to replace. So, if you don’t invest in your workers, your business is bound to fail.
Remember, investing in employees helps them feel valued and secure. In turn, your workers become more engaged and productive at the workplace, leading to business success.
Read on to learn a few unique ways you can invest in employees to boost remote employee motivation and in-house staff efficiency.
Invest In Employee Professional Development
Too often, employees feel disengaged at the workplace because they lack opportunities and challenges for professional development and personal growth.
To ensure you’re truly investing in your employees’ career and personal development, you need to develop an individual development plan or IDP.
Using an individual development plan is one of the best ways of empowering employees to think about their career growth, where they are now, where they desire to be, and how they can get there.
You should also schedule meetings every month to discuss your employees’ goals and provide advice on how to achieve them.
As an employer, you can help your employees advance their skills by providing in-house or online training.
Committing time and effort to get to know your employees is another great way to improve your organization’s retention rate. Spend a few minutes interacting with your team every day or have a staff briefing on Mondays to set short-term goals for the week.
Also, make it a habit to ask your employees about how they’re handling projects, give feedback, and offer praise to recognize your team’s hard work.
In addition to holding staff meetings, you can send emails or conduct group or one-on-one live conversations using internal communication software like Slack, Microsoft Teams, Google Workspace, and Yammer.
For instance, Yammer allows you to send and receive messages to and from team members, create project-based workgroups, and engage in chat-style communication.
Like most communication tools, Yammer features an easy-to-use interface. However, it pays to go through the Yammer guide before getting started. Doing so helps you understand Yammer’s top features and how to use them to your advantage.
These features include high-level security, enterprise microblogging, task tracking, document distribution, and compliance management.
Provide Employee Benefits That Matter Most
There is no secret recipe to achieving the best outcomes when providing employee benefits.
To ensure your perks are effective in keeping your workforce happy, you need to tailor them to your employees’ specific needs and wants.
For instance, let’s say your staff works full-time and puts in overtime regularly. Providing a service like dry cleaning or car wash can help them enjoy their free time.
If your employees have young children, consider setting up childcare services. You could also offer other incentives like free food, books, courses, flexible work options, or paid time off.
Investing in employees is vital to creating an engaged workforce and reducing the employee turnover rate. As a result, you enjoy increased productivity and high ROI.
With this in mind, make an effort to create reward programs that keep your employees connected. Also, provide career and personal development opportunities, and communicate effectively with your staff.