When you own a business, you may be constantly finding ways to increase revenue while decreasing costs. Although this can be a good idea for some aspects of your work, you may want to think about how you can get more out of your employees. Even if you give them a fair salary, people may still want to know that they are respected and valued within the workplace. Finding different ways to reward them, as well as to help them go further, can make a large difference to your internal operations.

Use incentives

Ultimately, an employee probably comes to work to be able to pay their bills and survive. Some may have become disillusioned with working life, especially if they have had bad experiences in the past. To motivate your employees to try and achieve more, you might want to think about the use of incentives. This could involve a bonus at the end of each month depending on performance, or even the opportunity to do something special. Christmas gifts and a paid day off on their birthday, as well as acknowledging the anniversaries since each employee started, may also be well-received. One great idea could be to use hellotickets.co.uk to find some local, inexpensive events that you could send your best performers to. You may find that this makes people want to work harder.

Focus on the team

Each individual you employ may have a set role within the company. Depending on workload, this may not provide much opportunity for your team to really get to know one another, or know who to turn to if they need assistance. It could be a good idea to book your employees on a team building event, during a working day, so that they can bond and become more of a unit, rather than a group of individuals. The benefits of doing so can be numerous, for both the company and its staff, and you may also find that you get to know more about your team as well. This can allow all employees, regardless of whether they are the newest starter or the most senior manager, to engage with one another on an even platform.

Praise freely

Work doesn’t need to be innovative to be good. Whether an employee has gone the extra mile to meet a deadline, or closed a tricky sale, they may greatly appreciate hearing that they’ve done a good job. Studies have found that employees may be more motivated if there is some recognition from those in places of power within a company. Even a ‘great job today, see you tomorrow’ as an employee leaves for the evening could make them feel more positive about their job. This could also really help to retain your staff, and give them a sense of loyalty to the brand.

While some members of your team may leave the company for genuine reasons, you may want to prevent them from doing so because they have lost faith in their work. Showing them that you genuinely care could be a great way to gain mutual respect and get more out of your employees.