Happy employees are excellent for your bottom line. They’re more creative, more likely to take risks, and less likely to leave. They boost team morale, and they tend to get things done. But if you can’t afford to pay them more, how can you keep your happy employees on board? Here are a few tips.
What Ways Can You Keep Employees Happy Without a Raise?
Focus on work-life balance
Today’s workers are hyper-aware of work-life balance, especially in the wake of the Covid-19 pandemic. Offer remote work options, flexible schedules, on-site daycare, or other perks that help them find balance. Make sure you are providing enough paid time off, and encourage them to take it regularly.
Show Them How They Make a Difference
Happy employees won’t stay that way for long if they don’t think their work matters. Loop them in on the company’s overall direction and goals, and help them understand how what they do supports those goals. Be transparent and honest, even when times are tough. And when you need their help, ask for it directly.
Create Space for Conversation
Be thoughtful about how you set up break rooms and other common spaces. A comfortable seating area with couches, tables, and free snacks can set the stage for bonding. And casual dialogue could easily segue into collaborative discussions that take your business to the next level.
Build Career Pathways
Nobody wants to do the same thing day in and day out forever. Develop individualized pathways to help your employees reach their goals. Job shadowing, cross-training, and tuition reimbursement are just a few low-cost programs to consider.
Consider implementing an employee of the month program, complete with a prime parking spot or gas card. Take your team out to lunch when they hit a big milestone. Rewards don’t have to be expensive, they just need to show that you value your employees’ contributions. Even a simple thank you, especially in public, can go a long way toward keeping your employees happy.
Think Outside the Box
If you can’t afford to give raises, can you afford to offer other perks? Maybe you could offer gym memberships or pet health insurance or a higher level of life insurance. If you have workers in very different life stages, consider creating a menu of options. One person might really need help paying for daycare, while another would welcome a monthly bus pass.