Studies have consistently shown that money is not the most important factor in keeping employees happy. Certainly it plays a part, but there are other ways to ensure your employees are happy and engaged.
A recent article in LeadershipNow by Harry Deutschendorf suggests five key things you can do to keep your employees happy:
- Be consistent and open in your communications.
In the absence of official information people will make up their own version of what is happening. It is better to provide the truth and deal with that, then to allow mistruth to rule the day. - Give employees a chance to weigh in on decisions.
It’s a given that being heard gives ownership. - Offer opportunities for development.
Give employees the chance to develop their skills as a way of engaging them with your business. - Ask for feedback and act on it quickly.
Asking and not acting is counterproductive, but being honest and transparent with employees will go a long way to keeping them happy. - Share long-term plans and focus.
If employees can see a bright future it gives them hope to last through the bad times and into the good.
Investing in keeping your employees happy and engaged is a more economical alternative to increasing remuneration and training new employees. What are you doing to keep your employees happy?
The Avondale Business School can advise your organisation on keeping your employees happy and engaged – find out how by contacting Warrick Long at the Avondale Business School.
P: 02 4980 2168