Money doesn’t buy everything and that includes your employees. In fact, if you’re dangling cash in front of them to lure them to join you, then you’re an ineffective leader.
Whether you’re a manager, business owner, or CEO, knowing what your employees want is essential. You have to give importance to those who you know will be a great asset to your company. To do this, you need to go beyond giving a fat paycheck:
You can offer a high salary, but if you cannot give enough holiday and sick leaves, as well as insurance plans, you’re still trailing behind your competition. Benefits packages matter because it makes their efforts more worth it.
Benefits need not be expensive. If you’re a small business and you can’t afford high salaries or pricey job perks, for you to attract job seekers, you just need the right mix of benefits and this will give you the competitive edge you need.
This doesn’t just refer to the structure but also the relationship and processes that help run the team. After all, a person works more efficiently if he or she has an amazing group to collaborate. Internal conflict is one of the primary reasons for workplace stress and absenteeism, which is when you need seek the help of professionals to offer mediation during employment disputes.
In a study by Glassdoor, at least 18 percent of the employees look for a chance to contribute further and grow within an organization. It’s one of the best forms of recognition or praise. It helps employees reach their level of self-actualization, which, according to Maslow, is the highest form of human need.
Your employees are your company’s best assets. As business leaders, you need to strike a balance between satisfaction and management. Be more attuned to what they need, and you’ll find yourself attracting the cream of the crop.