Did you know that research has shown that while money is a motivator for employees, there are many other factors which can influence their productivity and loyalty? The bottom line is that staff who feel appreciated and acknowledged will in turn reap rewards for your business, as they will be more satisfied with their overall working experience.

Let’s face it, we all like to be told we have done a great job! And we are all more likely to do better next time, or aim for higher goals, if we are encouraged in our endeavours. As employers, it can be too easy to get absorbed in ‘running the business’ and forget that our greatest assets are our employees. You may be under the impression that providing more incentives and rewards will cost you money. But there are many no cost ways to increase motivation and retain your staff.

-       Offer the option for flexible work hours. In our age of 24/7 access, there are many tasks which can be done from home or outside of standard business hours. You may be missing out on some highly skilled staff if you insist on everything being done between 9am and 5pm.

-       Acknowledge the journey and say thank you. Not only do we sometimes forget to celebrate achievements, it is also important to provide encouragement as progress is made toward a goal. A simple thank you (for tasks big and small) can go a long way – especially if this is done in the form of a handwritten note.

-       Create some fun moments. This might include ‘casual Friday’ or giving staff a long lunch break once a week or monthly light-hearted ‘awards’.

We all know that finding great employees, and then retaining them, is vital not only for the costs involved in recruiting and training, but also for the impact on productivity. When you have got staff that you want to keep, make sure you do things that will make them want to stay!

Michelle Grice writes a weekly column for business women in The Western Weekender

You are likely to be aware that the cost of hiring and training new staff is very high. Your business will always benefit from retaining your best employees. Often those ‘best employees’ have that label because they are intrinsically motivated to perform well. But even the ‘best’ employee will drop their performance levels, or even leave your business, if they are not satisfied with their work conditions. Here are some ways to encourage your employees to stay and to show that your staff’s well-being is important to you: 1. Implement health and wellness strategies. Organise a company team for a fun run, place bowls of fruit in the lunch room, implement regular mini breaks away from the computer screen, play music and so on. 2. Introduce volunteering opportunities. Talk to charity organisations in your local area and negotiate activities that your staff could be involved in. This might include out of work hours volunteering, as well as organised activities during work time. This has benefits for your business as a whole (by building links with the community and showing generosity) and can serve as a great team building activity. 3. Provide ‘birthday holidays’. If possible, giving employees an additional day off (or an ‘early mark’) on their birthday is a great way to show your appreciation for them. 4. Celebrate milestones. When a project is completed or your staff have achieved a milestone or perhaps even for no good reason at all, take the time to stop and celebrate. This might be as simple as finishing half an hour early on Friday afternoon for a glass of champagne and canapés, or more elaborate celebrations such as dinner at a nice restaurant.

Michelle Grice writes a weekly column for business women in The Western Weekender

Do you value your staff? There would be few business owners who would answer ‘no’, but their actions don’t always match their words. Although it may sound like an overused ‘sentiment’, the key to high performance and high retention rates is to make your staff feel valued and trusted. This means supporting their development, creating an environment that enables them to get the job done effectively, and providing opportunities for staff to use their talents. Without those factors in place, your staff are likely to burnout quickly, which ultimately affects your profits and overall business performance. But the good news is, it may not take much effort on your part to change your workplace culture. A major aspect of valuing your staff involves taking the time to find out what your staff think and showing that you are willing to communicate. And without intending to be patronising, we can also learn from some basic parenting strategies! I know that my children’s behaviour improves greatly when I take the time to give them positive feedback in a very intentional way. By looking them in the eye, recognising a ‘job well done’ and giving them specific recognition, my children feel better about themselves. They also understand what they’ve done well and they learn from the experience. This applies for your staff as well. When they feel competent and valued, their motivation increases. Find personal, specific ways to thank your staff for their work and let them know what an asset they are to your team. The benefits will be returned to you ten-fold.

Michelle Grice writes a weekly column for business women in The Western Weekender