There is a new trend in business nowadays, and it’s helping all sorts of brands, both big and small, increase their profit margins. It doesn’t include increasing prices or offering extreme discounts and freebies. It just requires businesses keeping their employees happy.
Sounds like a crazy plan, huh? However, studies show that keeping your employees happy can make them work harder, become more creative, and contribute to more profit. The real question is, how can you possibly make your employees so happy that they help you make more money? Well, you can start with being a good employer and offering them incentive rewards programs but don’t just stop there. Here are a few tips on how you can keep your employees happy.
Secrets in Increasing Employee Happiness
- This first point is a given: Keep the pay competitive – We all know that the main reason why we work is so we can earn more money. This holds true with your employees. Keep the pay fair and competitive and your workers will see that working hard for the business means growth for them as well which brings us to the next point.
- Share the bounty – When your business is growing, don’t forget to let your employees feel the growth as well. A good example is the Chinese Telecom company Huawei. According to Huawei’s 2014 Annual Report, the founder holds only 1.4% of the total share capital of the company. The rest? Owned by its 82,471 employees! As a result, Huawei has been growing exponentially.
- Open the management door – Most distraught employees have one thing in common – they feel so distant from their employers. A lot of studies show that keeping your management approachable and responsive to employees releases any tension within the organization. Aalways keep an open mind for ideas from your workforce. Your workers are happier when their views and suggestions are taken in warmly by management.
- Keep the workplace fun – While installing an in-house playground is a tall order, there are easy ways to keep the workplace fun for your employees. Provide stress relievers and encourage your employees to let their personalities shine. Working is already stressful as it is, don’t add unnecessary pressure.
- Don’t hesitate to provide incentive reward programs – We, as a species, like it when we get rewarded for the thing we do. We have seen how employee incentives in companies create a positive environment in various organizations. While this means you have to budget to create, implement, and manage, most companies swear by it, and the budget is usually relatively minimal. Just don’t go on providing employee incentives without proper planning as it can easily backfire.
While you may be excited right now to start all these suggestions mentioned above, there’s a pretty heavy caveat – you need to implement them correctly, or it can turn south quite easily. There are a lot of employee incentives in companies that garnered zero results just because they weren’t planned out properly. Some even result in employee dissatisfaction. This risk can easily be reduced by hiring experts to help you in coming up with a strategy to keep your employees happier. If you are interested in finding a company that successfully provides employee incentives for many companies, an organization like Online Rewards is one to consider. This company provides a comprehensive array of technology solutions in the sphere of incentive rewards programs, as well as a wide range of merchandise that your employees will appreciate.
