We have already covered ways to improve retention through the “Great Resignation” and with increasing inflation, surging house costs, and hybrid workplaces, employment engagement has been down across the board.
Inflation currently sits at a 40-year high. As the world comes up on 3 years of living through the pandemic, surging housing costs, rising gas prices, it’s understandable that your employees may be feeling a bit overwhelmed.
Such an environment (paired with a competitive job market) can make it difficult to retain employees. Though some companies are boosting pay, according to Paycale this may not be enough to make up for an already dissatisfactory wage level.
Your employees work hard and they need to know how much their work is appreciated.
Sometimes showing earnest appreciation is harder than it may seem. You want to show recognition but you also don’t want it fall flat.
Here are some great ways to show some employee appreciation and recognition:
I’m sure you’ve heard the old adage of “time is money” and when it comes to your employees, it couldn’t ring truer. Giving time back to your employees is a fantastic way of showing appreciation. Even if you are a company with unlimited PTO, there are often feelings of guilt when an employee takes time off. By giving specific time back, you allow your employees to get some them-time without the remorse.
Whether it’s an off-site team building activity or a company hosted food truck for the office, organizing company-wide events not only breaks up the work-week but also contributes to a sense of camaraderie between your teams. By pairing a company event with a reward system, you can boost your team’s engagement by providing a common goal to work towards.
Advancement of education can not only help someone’s self-worth but can also help them develop skills that will benefit the company as a whole. Offering some sort of schooling or certification program on the company’s dime is a great way to show gratitude but also to help keep your workforce stay ahead of the game.
Managepoint understands what a business needs when it comes to providing human capital solutions. From 10 to 300 employees–for benefits, payroll, professional recruitment support, training and much more, our clients rely on us to provide the knowledge, support and technology necessary.