When Profits Are Reaped, Engage With Employees
When a company succeeds in generating huge revenues, all stakeholders celebrate. Quite often, employees are completely missed out in this kind of celebration. It’s the kind that makes employees feel undervalued and unappreciated. When your organization reaps the benefits of hard work, don’t just engage with the managers and investors, engage with the employees too.
This kind of behavior counts when it comes to employee retention. It will matter even more if the organization experiences a downturn in the future. Many employees will stay for the sole reason that they felt appreciated.
Here’s what your organization can do to engage with employees when things are on the high tide.
Send an Email
As easy and simple it is, a mass email can work wonders. It informs everyone in the company of their value and thanks them for their hard work.
A straightforward move that lets employees know that management has not forgotten about them.
If the past month has really stressed out employees in meeting company targets, then proving a “free pass” is an easy and inexpensive way to reward employees. Free passes may include assigning bonus time-off for example. Remember…many have probably scarified personal time to complete their respective jobs and these “free passes” can be a great way for them to gain that back.
On the day that the good news comes out, why not treat your employees with a few “sweet treats”…It’s inexpensive and goes a heck of a long way in showing you care and acknowledge what they put in to make the company succeed.
Nothing is better than when the CEO gives a speech to the whole team. A CEO giving a speech to the employees is akin to Mel Gibson giving his speech in Braveheart. It rallies the troops, encourages them, makes them feel appreciated and most importantly, allows the CEO to give credit to his employees.
Why not applauded your employees publically. Hand out rewards and acknowledge your employees in public? That said, not everyone likes to be acknowledged publically, but for the most part, this works extremely well. Why not get this done after the CEO has addressed everyone…since all the employees are gathered together.
Reward does not have to be in the form of money. This becomes an expensive way to reward people and in actual fact is a very short-term manner in which to reward employees. Other ways to show your appreciation for hard work is to reward through non- direct cash rewards. Examples can be sending your employee on a short holiday with some of the time paid for. Another way to accomplish this would people be to invite the employee and his/her spouse out for dinner with the manager/leader. Finally, those that show great technical skills, place them in projects where they can show-case these skills and reap the benefits…those that show great leadership or management skills should be placed in larger leadership roles where they too can flex their skill set to benefit the organization.
Everybody likes a party and so do your employees. The whole company interacts and enjoys an informal setting where everybody can revel in the hard work in and the success reaped.