Business Management Skills

A challenge in the workforce is employee retention. Managers are looking for ways to increase employee loyalty, and morale. Often it is the most simple and obvious ways of rewarding employees, that are the most effective.
Companies struggle with ways to keep the workforce motivated and productive. Properly rewarding employees is a fine line between a gloomy workplace and overkill. The struggle comes when employers search for the best way to reward an employee. Pay, Benefits, Perks, just to name a few of the options kicked around by managers when working to determine employee rewards. Not to worry, here’s some insight that will help.
Did you know that the majority of HR surveys taken by companies reveal that “Recognition” is the #1 reward that employees seek? Pay ranks #4 behind benefits.
In the old days, people worked in industries that identified them as ‘workers’. The corporate setting constructed hierarchies that most often offered no real chance for advancement or opportunity for individual achievement. This fosters an environment of drone workers that do their best each day with no rewards other than retirement or a pension at the end of a 25-year tenure, which rarely exists today. This is not enough for employees in the modern world and they are making their demands heard.
Companies stay competitive by hiring creative and talented workers that “think outside the box” (a well-overused phrase one might add). Rewarding these employees requires a bit more thought.
During a recent open forum meeting with the employees of National PEO, a Phoenix human resources outsourcing firm, the staff were asked, what type of employee rewards keep them motivated. One employee responded, ‘give me greater challenges’. The employee wanted more opportunity to deliver results. Another employee responded, ‘a little extra time off each year would be nice’. This particular employee is one of our fastest producers. She often found herself with downtime so she wanted to spend more time with her child. The response that stood out the most was from a soft-spoken employee who rarely speaks up at open forum meetings. Her response was ‘a simple thank you would be nice’.
Ultimately, the trick is listening. Hearing what energizes each employee in their own way usually provides the answer to complex questions like ‘How do I reward my team’. But in any case, ‘a simple thank you’ will do.
By Lisa Cieslica
By Lisa Cieslica of http://www.nationalpeo.com/ . National PEO provides PEO services to hundreds of AZ companies including Phoenix Human Resources Outsourcing: http://www.nationalpeo.com/ . Please link to this site when using this article.

One of the ways to get employee’s loyalty is to help him through his financial troubles. Most people take up so much credit that it becomes hard for them to pay it back. And eventually they are looking for debt management. The company can help them through their difficult times of credit collection by getting them a debt consolidation loan or a bankruptcy financing loan, if it comes to that.

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