Showing Recognition to Your Staff and Appreciating Their Efforts
As your beading company grows, you're likely going to need to hire a few employees to help you with your daily responsibilities. Whether you have two staff members or a dozen who keep your storefront running smoothly, you'll want to show your appreciation from time to time for all the hard work they do. Doing so can improve your employee retention rate and improve the reputation of your company within the beading industry.
|If you are new to entrepreneurship, chances are, you have little experience managing a staff--let alone rewarding them for their good work. However, there are a few ways that you can show your appreciation to your employees and maintain a tight connection with these individuals.
Many businesses choose to give their employees raises as a token of appreciation, and this is often seen as the standard in most workplaces. That being said, it can be difficult to give raises to all of your staff members during tough economic times. FOX Business reports that this is something everyone has to deal with time and time again.
''Not giving out raises can have a real negative impact on employee morale and motivation. You may even lose some talented individuals,'' Dr. K. Habib Khan, Chief Academic Officer and acting Dean of the School of Business at Stratford University, told the news source. ''But if you still take the time to show that you appreciate them during this rough economic time, they will be more likely to hang in there and remain dedicated and loyal employees.''
There are many ways that you can show your gratitude without giving everyone on your staff a bonus (although they would likely prefer the money). The key to keeping your employees happy and maintaining your retention rate is expressing your appreciation on a consistent basis throughout the year.
FOX Business reports that one way you can show you care, is by recognizing each employee's birthday--this is one day that many people expect to be treated a little differently, giving you the opportunity to express your gratitude. Think about bringing in a small cake or giving the employee a gift card on his or her birthday to show the person that you truly appreciate all that he or she does for the company.
Gift cards can also be used for special circumstances in which a staff member exceeds your expectations or goes beyond the call of duty. You might want to consider having a stash of gift cards in your desk to give to an employee when the time comes--this can show that you are always thinking about your staff. Use gift cards that anyone can enjoy, such as certificates to restaurants or cards with a set value that can be used anywhere.
If you want to make it a point to reward your group of employees as a whole, you can have a pizza party or dinner at a nearby restaurant once a month. This is a great way to bring your staff together and encourage team bonding.
When you only have a few employees to manage, you have the opportunity to associate with them on a more personal level. For this reason, rewarding them becomes slightly easier--you have more time to spend with each of your staff members to provide them with encouragement and motivation.
If you want to do something special and show your appreciation for your staff members on a regular basis, make it a point to recognize each of their accomplishments as they occur. The American Express Open Forum reports that you might also want to have an employee recognition day to commend their efforts.
''Small business owners have daily interaction with employees,'' Bob Nelson, author of 1001 Ways To Reward Employees, told the news source. ''Take advantage of that contact and accessibility. Be open to connect with people, take their questions, and check in on them. Be interested in their life beyond the job and also on the job. Ask, 'What can I do to help make your job better?'''
Microsoft Business reports that before you begin rewarding employees for their good behavior, you should develop a plan to make sure you can execute your goals properly. This means knowing how much money you're willing to spend on your rewards and whether or not you want to recognize people on a personal level. As your business grows, you might also want to show appreciation for your staff as a whole. By taking the time to hammer out a strategy, you can make sure you are putting in a reasonable amount of effort and improving your employee retention rate along the way.
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