When it comes to valuable assets to your company’s success, arguably the most important is going to be the people who effectively run and operate your business. Employees are on the front line and represent your brand and ensure your vision is turned into a reality. Valuing your employees is the definition of valuing your business and your own success.
Here is why:
Have you ever heard the phrase “employees don’t leave their organization, they leave their leadership?” Well,the stats don’t lie. 69% of employees said they would work harder if they felt as though they were appreciated by their management (Gallup). By investing into your people you are able to avoid:
- Employee turnover (which is expensive btw)
- Low company morale
Plus, business units in the top quartile of engagement see 21% higher profitability - (Gallup)
If you’re interested in improving your employee’s experience and morale moving into 2023 here are 5 tips that you can implement today!
1. Take a vested interest in their personal goals
Only 20% of U.S. employees strongly agree that they’ve had a conversation with their manager in the last six months about achieving goals.
Source: Gallup. 8 Behaviors of the World’s Best Managers.
Leadership is about fostering an environment that encourages your team to succeed and not only in their professional projects. By understanding your staff's desires, needs, and goals for the future, you can develop a better relationship with each individual and help them to meet those goals. In the end, they are likely working for you in order to achieve some of those objectives. Get to know them.
2. Ensure there is OPEN and HONEST communication
This is advice you should follow for your friendships, romantic relationships, and yes - your professional relationships. In order for your employees to feel comfortable to express ideas to you, identify areas of improvement for your organization, or even come to you with an issue they are having - open communication is imperative. Consider sending semi-annual feedback surveys through Google Forms or hosting quarterly feedback sessions in-person that allow you and your employees to receive crucial feedback about work performance.
3. Develop incentive plans to recognize their achievements
The truth is that many employees don’t feel recognized by their efforts. Thriving employees are 4x more likely to work for companies with equitable pay. Consider investing financially in your people. In fact, salaried employees are typically more satisfied than hourly employees. Some other ideas for incentive plans would be targeted quarterly bonuses, weekly or monthly recognition with some sort of gift, tiered compensation to develop an incentive for production.
4. Plan quarterly events for them to attend
Part of connecting with your team is connecting with them outside of the office. Oftentimes, monthly or quarterly events can improve relationships between team members in addition to their relationship with their leadership team. Consider ax throwing, paint and sip, outdoor courses, or other fun activities that don’t associate with work whatsoever.
5. Show them your appreciation with gifting
Over 80% businesses have said that gifting has improved their relationship with their employees. The study was conducted by Forbes and surveyed over 300 major companies with over $30 billion in revenue. It is a proven fact that gifting increases:
- Employee morale
- Employee engagement
- Employee Productivity
Consider a gifting program to celebrate your employees as birthdays, employee of the month, onboarding, etc. In fact, we’ve made it so easy that you can either buy pre-designed gift boxes that are ready to ship or you can build a box designed specifically for them and have it shipped directly. Another great option if you’re looking for a more branded gifting experience is to work directly with our Corporate Gifting team to design a box for you.
Moreover, fostering a culture of inclusion, connection, and support is imperative to the success of your employees AND your business.