One common question that pops up in every entrepreneur’s head is,
How to get the best out of my employees without throwing big bucks?
Indeed if you have enough budgets to allocate on employee benefits, you will motivate them to do better in upcoming days. Besides that, you will also derive loyalty and build goodwill of your company. For this, you don’t have focus on permanent pay increases. A little push from your side will do the trick like one-time extra allowance.
But this doesn’t completely answer the question. Most of us are focused on cheapest ways that could be implemented to get the best out of our employees. So, as per the requirement I have arranged a list of ideas implied by most of the successful companies. I won’t guarantee that these ideas will work perfectly for you. But at the very least, these ideas will provide a starting point that will help you to establish a better bond with your employees in the near future.
Creating a flexible schedule for your employees might be one of the easiest solutions to enhance the performance of your employees. This idea will be keenly appreciated by your employees with aging parents or small children. Most of you might debate on the topic and conclusively say that it will not be right for our business. But, look how this idea worked for one of the monster sites on the planet “Yahoo”. With right management, this idea can be one of the most useful solutions to boost the performance of your employees.
Granting few days leave a year might not be a big deal for your company but enhancing the performance of workers surely is. So, if you haven’t incorporated a sick leave or a time off facility, it’s best to introduce the offer as soon as possible. But, if you already have a policy and you’re staffs aren’t happy with it then try to max out the number of days. What this does is, it relives your staffs from a lot of mental pressure and biasness created by the work load. And, eventually it helps to bring out their progressive part and gradually enhances their performance.
First things first: Don’t combine vacations and holidays in your list of Time off. Besides, the regular scheduled holiday quotas it’s best to provide leave to your staffs on their birthdays and anniversary. If you are having issues related to turnover, it’s one of the best considerations that will entice your employees to stay. The process might cost you a little, but it’s definitely worth the price to keep your best employees.
Medical aids and Funds
When it comes to hiring an employee, you always seek out for the best personnel with the best skills, right? Well here’s the best part, so are they. You can totally say goodbye to the days when a complementary cup of coffee and an average lunch did the trick. Today, if you want the best you gotta give the best. And, if you are planning to step back and let your competitors take the lead, then you might lose some of your best efficient staffs. So, shape a business that invests in its employee’s future and eventually you’ll build a dedicated team constantly focusing on your company’s growth and prosperity.