Staff turnover costs American companies millions of dollars every year. The cost of lost work days, interviewing candidates, reviewing resumes, checking references, filing paperwork and training the new staff member is much more expensive, in most cases, than creating a work environment where staff members are happy and want to stay. If you’re worried about waning staff morale in your company, here are some things you can do to keep employees happy and productive.
Give bonuses. Even a little bonus can mean a lot. Bonuses improve morale and increase productivity. Explore the possibility of different bonus structures including: holiday bonuses, birthday week bonuses, sales bonuses, hire date anniversary bonuses, and education bonuses.
Plan a staff retreat. Time to relax and get to know your colleagues in a social environment improves teamwork and again, productivity. However, many people won’t want to spend a weekend away from their families even if you put them up in a nice hotel. Think one-day staff retreats twice a year. Close the office on a work day and spend the day at a spa, golfing, at a theme park, going to dinner and a movie, hiking,...
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