(This is the fourth in a monthly series about Corporate Health, where we examine different methods and ideas for improving efficiency, your company culture, and employee morale.)
Have you built the ideal staff for your business? Maybe you’ve fine-tuned your interview processes, done your due diligence on candidates, and hired a genuinely terrific group of talent. You’ve invested time and money into training them and giving them the tools to succeed as employees and you are very pleased with the results. Now, wouldn’t it be great if there was a way to ensure this investment, and find a way to keep all these talented people on a long-term basis?
Employees leave companies for a multitude of reasons, but the last thing you want as an employer is for a valued member of your team to leave because they don’t feel valued. While many employers automatically think of costly raises and bonuses when they think of employee incentives, the truth is anything which helps promote happiness among staff members can be considered a perk, even if it’s non-monetary. A 2015 survey by TinyPulse discovered employee satisfaction was directly tied to the amount of respect and recognition they received (especially from peers), their opportunities for professional growth, and their opinion of their work culture.
Across corporate America, employee incentives vary greatly. Small companies don’t have the luxury of offering workout rooms, on-site massages, free meals, and similar perks that large corporations provide. But offering perks on a proportionate scale are equally appreciated by staff. Companies in the security industry are traditionally small to medium sized, but many of them have found ways to incentivize their employees within their budget limitations. A recent survey of Bold customers revealed some of the basic programs they have in place:
- Monthly staff parties with cake to celebrate birthdays and recognize work anniversaries
- Recognition and simple awards such as gift cards for company or customer achievements
- Holiday celebrations and activities, such as Halloween, Thanksgiving, and Christmas
- Employee access to training and industry conferences
Other companies responded with specific programs they have implemented. Todd Lindstrom from Life Safety Monitoring described a few of the incentives they offer: “The immediate reward system we have is called ‘Kudos Club,’ where, based on compliments, exemplary work, etc., they receive Kudos Coupons that they can then turn around and purchase certain products we have purchased through the company for them. We also are completing a pay scale tied to completion of certain requirements, such as BoldGenius, HIPAA training, and CSAA modules.”
Dory Retherford, from PerMar Security Services, talked about how they make sure all their shifts are recognized. “We have a monthly ‘Dispatcher of the Month’ for each shift. They get a gift card and a roving plaque. We also have a drawing every month for dispatchers on each shift who have the top stats in different areas. PerMar also recognizes people for tenure: 5, 10, 15 years, etc.”
So what are some other things you can do? Anything that recognizes achievement or shows appreciation to your staff for their hard work contributes to employee satisfaction.
- Set up a company email where employees and customers can send their stories of excellent service or achievement. Post the emails in the office where they can be seen or read them to the entire staff at a company function.
- Let pets come to work now and then. The presence of animals in the workplace has proven to reduce stress and foster collaboration between staff members.
- Encourage employees to contribute ideas for improving the company with specific processes to solve a current business issue. If the idea is utilized, the employee receives a gift card or cash reward.
- Did you know many adults do not receive a single card on their birthday? Imagine how appreciated a card and even a small gift would be!
- Reward achievements with a long lunch or additional comp time.
- Make sure employees are recognized by upper management too. A word of appreciation from the CEO carries a lot of weight!
Employee incentives build rapport with your staff and increase employee engagement. Even small things can bring you a large return on satisfaction and loyalty.