Keep Your Employees Happy

As the economy continues to improve and jobs are easier to come by, employees are no longer in a state where they feel lucky just to have a paycheck. If you are a manager or business owner it’s now more important to keep your employees happy.

Studies show that 90% of employees are willing to consider leaving their job. Unhappy employees are 11 times more likely to move to a new organization. The average cost for employee turnover ranges from 1-1.5 times the position’s annual salary. As an employer, you can choose to put your time and energy into recruiting, hiring, training, and integrating a new personality into the mix, or you could simply find a way to keep your employees happy.

This brings about the next question, how can you keep your employees happy? The most obvious answer is compensation. There comes a point where other things can be even more important. Recognition and appreciation are two of the most powerful motivators. Publicly recognizing an employee for a job well done does wonderful things for their confidence. An enhanced title with additional responsibility, even with a minimal raise does incredible things for moral. Increased autonomy shows your trust and provides the employee the opportunity to thrive. It also may just help lighten your load.

Next week we’ll discuss more specific ways to earn the loyalty of the people who are most important to the success of your business. In the meantime, start to think about ways to enhance the quality of life for the people you manage. It’s really very simple, if your child or significant other were in your work environment, how would you want them to be treated? If you are not treating your employees as well as you should, you run the risk of losing them. Just remember, the most critical component to any business is people. Keep your employees happy.

If you know someone that can benefit from this advice, please pass it on.