Efficiency is the name of the game at Agents of Efficiency (obviously) so we’re making it even more efficient for you to improve your business. Every week, we sort through all the boring stuff to bring you the best tips from the wide world of the web. For this week’s #2tips4tues, we examine how to improve the morale of your employees.
Share the Wealth
As your venture grows and you take on employees, you’ll have to keep up with your benefits policies. Companies continue to embrace progressive benefits policies like unlimited vacation and wellness reimbursements for good reason. The loyalty generated by taking care of employees proves to be well worth the investment. With Netflix and Virgin making huge splashes with their paid parental leave policies, it’s becoming important to court employees with perks. But don’t forget a less modern, yet still valuable perk: shared success. Profit-sharing is still a massive benefit to keeping employees motivated. Especially in the early stages of your company, find ways to carve out bonus structures that incentivize employees for their contributions to success. In Inc.com, Peter Vanden Bos gives an additional layer of advice to make sure the policy is clearly understood: “Open-book management, in which employees have extensive knowledge of the company’s financial information, can be an effective strategy for helping employees understand the process.“
Allowing for Flexibility
We live in a changing world that requires us to make room for inevitable complications. By staying flexible and acknowledging the reality that last minute things come up, you can better motivate your team members. In Entrepreneur, David Chatt lays out how this approach improves team morale: “Look for opportunities to be accommodating to your team. This not only shows you trust your employees but allows people to focus on work product — the most important thing. If it’s ever helpful for your team, let employees do things like work from home, time-shift hours or take an ad-hoc family day. Happy employees, who feel like their company has their best interests at heart, make for productive employees.” This is also great advice for ourselves, as increasingly, we need to find the balance that works best to handle personal and professional duties.