Investing in your employees is good news for any business hoping to become a success. After all, if you look after your staff, they’re more likely to remain in their jobs and will feel motivated and happy in their work. Here are three worthy employee investments every company should consider.
Some business managers inaccurately regard staff training as an expense rather than an investment, yet training your workers to have the best skills for the job should be seen as a necessity rather than a luxury. After all, if staff don’t feel that they have any opportunities for advancement within a company, they’re more likely to feel unmotivated, unchallenged and less productive.
Indeed, studies show that workers who don’t feel that they’re developing within a company are 12 times more likely to leave and will start looking for a job that’s got more scope.
Crucially, it costs a business a lot more money to replace someone who has left than it would to offer that person training, so making sure that staff have opportunities to learn new skills is something that every company should take seriously.
- Flexible working
The days of working 9-5 are long gone. These days, more and more workers are seeking jobs that offer them the chance to work flexible hours, to fit around other commitments such as family life. Plus, increasing numbers of people are striving to find jobs that offer a good work/life balance, and are often willing to sacrifice a high income for working conditions that are less stressful.
If you want your business to succeed, consider making flexible working an option. This could include providing some flexibility with the hours that staff work, as well as offering them the option to work from home, where feasible.
There’s no doubt, that employees value working for companies that offer them a range of benefits. But, even better – providing staff benefits can be good news for businesses, too, in the form of:
- reduced staff turnover
• increased motivation
• higher morale
• improved engagement
• a happier and more productive workforce.
However, a word of caution if you do decide to go down the benefits route. It’s vital to make sure the benefits system you provide is tailored to each individual employee so that what you offer provides personal value to them. Even if you have a tight budget, small rewards that don’t cost a fortune can still have real value to employees.
Using a reputable employee benefits platform can help you to personalise your benefits so that staff can easily see the total value of their employment, including the rewards available to them.
If you’d like to implement a benefits package using highly effective employee benefits software, get in touch with the experts at Zest.