Employee motivation: the key to staff retention

Your employees are the cornerstone of your business. You've invested time in recruiting them and developing their skills, so the last thing you want is to have them leave.

But there are ways to reduce turnover and keep staff loyal to your business. It all comes down to employee motivation.

You can afford it

If you think you can't afford to keep your employees happy, think again. Employee motivation isn't all about money. In fact, money is often not highest on the list of factors that contribute toward job satisfaction. 

While fair pay and conditions are a requirement of retaining staff, intangible things such as respect and appreciation are often valued more highly than financial reward. A word of thanks for a job well done could have a greater effect than a bonus.

Different people, different methods 

Unfortunately there is no 'one size fits all' method for employee motivation. People have differing needs - it could be recognition of a job well done, further training, or the potential for career progression.

Get to know your staff and find out what they value; you can then tailor your motivational strategy to their individual needs.

Make it official

Rather than acting like a coach who occasionally gives a rallying speech, employee motivation needs to be sustained over the long term. Documenting your system is imperative so that all of your employees are clear on your policies and know exactly what's required of them. 

Performance management is a key tool in maintaining job satisfaction. This involves setting goals in consultation with your staff and then measuring their success. It also affords the opportunity to discuss your employees' aspirations and help nurture their goals.

Methods of motivating employees

• Encourage a work-life balance: Allow staff to work from home occasionally, take time off in recognition of hard work, or be flexible with hours.
• Foster career progression: find out where your staff see themselves in the future and help them develop the necessary skills.
• Offer training: this will equip them with new skills that they can use in your company and will have flow-on effects with other employees.
• Ensure they keep learning: when you stop learning, you become bored and stagnate.
• Give them a sense of control: where possible, allow them to have a say in decisions that affect them or the way the business operates.
• Offer encouragement and positive feedback for achievements, even small ones.
• Promote a social atmosphere and encourage group activities: this will create a fun and positive working environment.

For the long haul

Keeping employees motivated and happy in their jobs doesn't have to send your business bankrupt. Often, all that's required is fostering individual talents and setting clear goals.

So contact an employment services consultant today to discuss ways your business can retain its most valuable asset.