5 suggestions to give back to employees and boost team morale
Employees are often said to be a company's most important asset. In fact, they form the backbone of any organisation. However, a concerning issue is arising, tenures in Singapore has decreased to an average of 2 years.
With turnover being the new norm, companies must reconsider how they can keep their employees happy and engaged. Otherwise, they face the risk of crippling direct employee costs. It costs one-third of an employee's annual salary to hire a replacement if that worker leaves.
Thankfully, 75% of surveyed respondents felt that the causes of employee turnover could have been prevented. Which means, it's not too late to invest time and effort to establish a structure of giving back to employees.
Here are some fun ways to spice up corporate culture!
Have real conversations beyond work matters.
While discussions should mostly be on work issues, there's no harm in learning more about your colleagues' personal life. Consider throwing in some fun, like what John Hall, a contributor to Forbes, did:
“When one of our employees postponed a honeymoon, we set up a little beach retreat at the office as a substitute. The trick is to let your team know that you don’t just see them as worker bees.”
Throw a year-end party.
Take this holiday season to celebrate a fruitful year and honour the contributions from all employees. While the process of working towards a goal is important, the celebration after reaching that goal is equally important. This keeps employees perpetually excited, and there's no better way to say thank you than to throw a party. With work-from-home being the default due to COVID-19, a year-end party is a great time to bond with your colleagues!
Free meals are an employee-retention magnet.
We all know the way to a person’s heart is through the stomach. Free meals result in a 67% job satisfaction rate in employees. Company-paid meals signal a supportive environment, and are seen as an attractive employee benefit.
Promote work-life balance among employees.
In an interview with The Slumber Yard, COO Mathew Ross noticed that employees were working beyond their scheduled working hours, and suspected burnout as a reason for some of their recent employee resignations. He took action by implementing a rule: No work emails between 7 p.m. and 5 a.m.
Ross reminds any employee of the rule if they see an email during the restricted timing. “We say something along the lines of how we appreciate their commitment and work ethic but we want them to enjoy their evenings.”
Hard work is always appreciated, but knowing where to draw the line is equally important.
Volunteering strengthens an employees' sense of purpose in the company, as well as facilitates deeper connection among employees. Volunteering provides a momentary escape from office-life. This will help in boosting employee's morale and energy in the long run. Try setting up a volunteering programme in the workplace and the long-term impact will outweigh any costs.