As one of the most valuable assets in business, and indeed the lifeblood of every company, it’s vital for companies to ensure they recruit and retain the right people – which is why it’s no surprise that 32% of talent leaders are citing employee retention as a top priority.
However, holding onto top talent can be difficult, and many business owners mistakenly believe that expensive perks are the only way to guarantee the loyalty of their team. But in this article, we’ll be looking at how small but meaningful perks can also have a positive long-term impact on employee retention.
1. Upgrade office amenities
While a complete office makeover may be just what your organization needs, it isn’t always a feasible option – particularly for small businesses. There are, however, a number of minor office upgrades you can make that will have a welcome positive impact.
From trading instant coffee for quality Nespresso capsules and upgrading the soap dispensers in the bathroom to adding a fresh coat of paint or some vibrant office greenery, these subtle changes will all work towards creating a more pleasant working environment that people want to spend time in.
2. Factor in flexitime
Offering employees the opportunity to work their work schedule around their personal commitments is a great way to promote a healthy work-life balance. Whether you introduce flexible working hours or a remote working program, with a workplace culture that’s built around trust and understanding, you’ll enjoy numerous business benefits.
For instance, one company reported improved productivity, increased trust and reduced stress levels from workers after adopting a remote working policy. These factors can all play a vital role in retaining staff and keeping them engaged, as a happier workforce is more likely to stay with a company for the long haul.
3. Focus on personal development
While salary is an attractive factor for many employees, studies also suggest that growth opportunities are a key contributor to job satisfaction. With this in mind, demonstrating that you value worker input and development is imperative to attracting and retaining staff. One way to do this is through implementing weekly personal development or training sessions across your organization to improve retention levels.
Be dedicating valuable time and effort to advancing staff skill sets and careers, or even allowing them to focus on a personal interest, you’re likely to see better engagement and productivity levels. It can also provide the opportunity to mould a loyal workforce that’s specifically skilled in line with the demands of your business.
4. Wow with wellness perks
Image source: Unsplash
If you’re looking to offer more as an employer, why not consider introducing wellness perks for staff? While they aren’t necessarily new, they are becoming increasingly common and more diverse, as companies seek to promote positive wellbeing in the workplace.
From free gym membership and subsidized healthy lunches to half an hour’s exercise time a day, creating a healthy workplace culture by providing wellness perks can be a highly persuasive prospect for employees.
5. Champion individuality
If you’re looking to boost both team morale and overall happiness and satisfaction at work, champion individuality in the office by embracing what makes each of your employees unique and giving them the chance to adapt the way they work to reflect this. Understandably, there has to be a certain degree of professionalism within the workplace, but there’s ample opportunity for employees to express their personality in ways that can actually improve their performance at work.
From instituting a casual dress code to offering staff the freedom to personalize workstations or communal areas, recognizing your workers as individuals and allowing them to be themselves at work can have a powerful effect on long-term loyalty.
When it comes to improving staff retention, it’s clear that sometimes it’s the little details that can make all the difference – and with these 5 small perks, you should have the tools to incentivise talented team members to stick with you in the long-term.