Quite more than often, the working class and employers assume that a grand payoff is the only way to attract, hire or retain personnel. And this is exactly where all of them go wrong.
Let me elucidate with an elementary example-
Would you rather have parents who listen to you, care for you or the parents who act as a mere financer of yours? Clearly, the parents who support you emotionally and mentally too. Likewise, the place we work at is like our second home and thus it is essential for the environment and seniors to be warm, motivating, and appreciating towards the employees.
Hence, the dynamics have changed drastically over the years and a big payoff is not the only thing that matters to an employee even if he or you thinks so. Here are some of the things that he unknowingly seeks and you must strive to offer.
- The 3 Rs (Respect, recognition and Rewards)- Just like getting compensated fairly employees also want to be appreciated, acknowledged and rewarded for the effort they put in. So, take the help of HR software in India to identify the top performers so that you can give them the treatment they should be getting. When there is a lack of the same, employees tend to feel unimportant and validated. As a result of which their morale drops and the performance gets impacted. Thus, the best thing you can do is to weave a rewarding scheme for performing well. This will instigate even the average to low performers to use their skills optimally.
- Trust, Understanding, and Flexibility (TUF) for better work-life balance- Another aspect that dominates the loyalty and commitment of the employees to a great extent is a workplace where there is work-life balance. Your workforce hates feeling bounded like they have to complete a certain number of hours daily sometimes even at the cost of their personal life. If your company starts understanding the circumstances that employees get in and begin trusting the employees with their work and provide flexibility in terms of work timings, work hours or allow work from home for some days in a month, nothing better than that. TUF is not tough to attain, you can implement HR and payroll software in India to assign the work and track the progress while making the life of employees better.
TUF is no less than an addiction, such a degree of flexibility does not just make them love working with your company but also makes it hard for them to join any other company even if they start looking for a change. For instance, a company that gives them a bit of a hike but offers no flexibility and also has 6 days working or so, high chances that they will turn down such offers and seek a company that has at least as much flexibility as yours. Spoil them, make work more and more comfortable for them and enjoy the benefits.
- Wellness programs and other benefits- Retirement policy and provident fund are widely provided by companies. What different benefits are you giving to your employees? Not any? Then try to provide health, vision, dental insurance and checkups as well. Even better if you are able to cover their families in it. Besides, mental health is another aspect that is not paid due attention to. Appoint a therapist for your employees and make sure they go talk to him/ her by spreading by removing the stigma and normalising it.
You can also provide advance salary loans and wellness program for disability and life. You can also make the program more flexible by adding pet insurance.
With so many options to choose from, compensation is clearly no more a measure for an employee or candidate to choose your company over others. It is hard to retain employees in a world progressing at such a fast pace; but by implementing these three changes to earn the loyalty of your employees, you can make it possible!