Running a business means you have a payroll, and you have at least one or two people on that payroll – it’s the base of your business, and your employees are what make it as powerful as it is. You wouldn’t be without them, and sometimes, it’d be a good idea to show them that.
So, when it comes to holding onto employees, you’re going to need to hand out some benefits, and rewards for those talented people who have always stuck by you. And if you don’t have much of a plan in place in order to do this, here’s some tips for you to utilize immediately.
Employees always work hard, and always have something to bring to the table; make sure you’re returning the favor.
Have a Scheme in Place
And not just a general one that rewards someone with a bonus on their wage packet whenever they pull off a particularly risky business deal or complete a task before a deadline. Make sure you have a long-term scheme that increase the rewards an employee is entitled to throughout the years they’ve worked with you.
Being able to show just how much you appreciate your employees consistently is one of the main points any of the management consulting firms out there will drill home to you. Have something to give to someone when they’ve been hard at work for a year, then two or maybe five years, and then have something major for when they’re managed ten years. These are the people who have innovated the most for you, after all.
Include Time Off Work
When you’re coming up with potential rewards to hand out to your loyal employees, make sure you’re considering a bit extra time off work for them as well. A gift card here and there is all well and good, but if you don’t have the ability to increase their wage for the year or offer them a huge bonus there and then, make sure you have the time for them to take.
When an employee is given extra holiday because of all the hard work they’ve done for you, not only are they truly going to appreciate the rewards you’ve given, but they’re going to return to work full refreshed and ready to take on another year of work for you. Overall, extra time off work simply works out in both yours and their favor!
Put Up Plaques
If someone is employee of the year, or they’ve just completed five years tenure with you, why not hand out some kind of plaque for them to hang up in a cubicle or on the wall of their office? This way, everyone can recognize the achievement fairly easily.
Rewarding long term employees is something more and more businesses should do, so make sure you’ve got the time and resources to do this for someone who’s grafted for you for years. There’s a lot of ways to reward someone – choose a scheme that’ll work for you.