A 2020 survey showed that companies with happy employees outperform their competitors by 20%.
Of course, most employers want their workers to feel good about their jobs—but how does one get them there? If you’re looking to raise the satisfaction rate among your team, read on for four handy tips to keep your employees happy and motivated!
#1 Don’t Be Afraid of Praise
Many employers make the mistake of holding back praise, in an effort to prevent “spoiling” employees. Unfortunately, this technique tends to have the opposite effect—when people aren’t rewarded for their hard work, they don’t work as hard.
Let your team know that their efforts aren’t going unnoticed. When your employee has a major work-related win, acknowledge their success with:
- A congratulatory mass email
- An office party
- A gift
Bonus tip: To lengthen the time employees spend with your company, make a note of the day each individual is hired. Giving a small present or card to commemorate their work anniversary is a thoughtful way to encourage loyalty among your team.
#2 Provide Stock Options
Providing investment opportunities will help employees feel more involved in the success of the company. This success can lead to a greater sense of motivation when working, and satisfaction upon seeing their finances flourish.
The way this works is simple:
- Step 1 – Offer employees restricted stock units (RSUs) for no charge. The amount you give out is up to you, but most employers choose anywhere from 60 to 500 shares.
- Step 2 – Employees wait for the stock to vest. This happens over time and encourages people to remain employed with the company, in order to see their investment fully blossom.
- Step 3 – Employees can decide to either cash in their vested shares for compensation or remain invested and allow them to grow.
Bonus tip: The vesting schedule is decided by the owner of the company. This gives you the chance to space out the process of releasing your stock into the market. Additionally, the longer the vesting period, the more incentive your employees have to stay with the company (and continue earning money).
#3 Build a Sense of Trust
The best way to douse an employee’s motivation is by trying to do their job for them. You hired this person because they were qualified for the position—why make things more difficult by looking over their shoulder every moment of the day?
Building a sense of trust between yourself and your workers is important. When you run a company, it’s normal to worry about things going wrong. These concerns, however, are not an invitation to hover over your team while they’re trying to work.
Give employees space to do their job, and if they’re passionate about an idea, try to trust their judgement and let them solve the problems within their department.
Bonus tip: To make sure you’re recruiting trustworthy employees, get an MVR check prior to hiring anyone new. An MVR report will provide important information, such as unpaid tickets, vehicular criminal charges, and insurance summonses.
#4 Offer Growth Opportunities
Understanding your employees’ career goals is crucial to keeping them motivated and satisfied. By offering opportunities for growth, you foster their ambitions and help them see a future within the company (rather than moving on elsewhere).
Some ways to make your business more growth-friendly may include:
- One-on-one meetings about career and financial goals
- Regular promotions
- Available raises and bonuses
Bonus tip: Set employees up for success by offering mentoring and training programs for higher level jobs. This will spark excitement for moving up the company ladder, and also prepare them for the day a promotion does come.
Happy Employees Lead to Happy Customers
… And happy customers lead to more profits.
When your team is motivated and engaged in their work, the domino effect kicks in.
Employees are the building blocks for a successful company, and unhappy building blocks will typically result in a less-than-stable foundation.
Through an adequate amount of praise, challenges, and growth opportunities, you’ll find that a healthy work environment isn’t hard to achieve!