In this blog post, we discover the importance of making employees feel valued.
While finding good employees is the first step to generating a strong workforce, maintaining them is even more crucial.
Did you know that employees who feel valued are one of the key indicators of job performance? - Study by the American Psychological Association (APA).
Importance of feeling valued- benefits to employers
The benefits of making employees feel valued are not only limited to employee happiness but also provide benefits for employers.
Increase in employee job performance
It is crucial for companies to invest in their employees and show them that they are valued.
Companies that invest in their employees’ happiness and success, see a significant increase in employee performance. This is because the happier the employee, the more they will feel valued, which then leads to increased job performance.
Increased Job Satisfaction
Job satisfaction is a measure of how much an employee likes their job. When people are satisfied with their jobs, they are more likely to be engaged in the work they do, more productive at it, and less likely to leave it.
The benefits of increased job satisfaction are clear. These include higher levels of engagement, increased productivity, and lower turnover rates.
Decrease in turnover
Employee turnover is a major problem in the workplace. It not only affects the company's productivity but also its bottom line. The cost of replacing an employee can be up to three times their salary. It’s in the best interest of the company to keep turnover as low as possible.
Employees are the backbone of any company. They are the ones who spend their time and energy to make sure that the company is running smoothly. They do this by working hard, following procedures and staying committed to their work. However, in order to make employees feel valued and appreciated, it is important for companies to give them a sense of purpose in their work and provide them with opportunities for growth.
The first step in motivating employees is to make them feel valued and appreciated. Employees who feel that they are not being treated fairly will be less motivated to do a good job. Moreover, making employees feel valued can help them find meaning in what they do and keep them from feeling bored or unmotivated by their tasks.
Valued employees improve company brand and reputation
It is imperative for employers to make sure their teams feel valued and appreciated at work.
The more satisfied employees are with their jobs, the more likely they will be committed to their work and stay with the company. This will not only improve employee retention but also help in building a positive reputation for your brand among potential customers.
Happy employees are usually very keen to be brand representatives, they often write glowing reviews and make compatible referrals.
What can you do to make your employees feel valued?
We understand the importance of valuing your workforce, now how can you achieve it? Next, we’ll look at the actions you can take to start making your employees feel valued.
Improve your EMPLOYEE ENGAGEMENT
Employee engagement refers to the emotional and intellectual connection an employee has with their job.
It’s the measure of how much employees are invested in their work. It impacts job satisfaction, productivity, and it makes us more competitive
Companies need happy employees if they want their business to go well. Providing them with opportunities for creativity, making decisions and taking ownership of tasks goes a long way towards this goal.
People work better when they feel valued. One of the most popular methods is employee recognition.
The feeling of being recognized for a job well done is great for any employee. It boosts their morale and makes them want to work harder to get that recognition again.
Recognition can take many different forms, including public praise, verbal thanks, or even a small gift.
A workplace culture that breeds valued employees is the most important thing for any company. It's not just about the salary and benefits anymore. Employees want to feel like they are a part of something, and that their opinion matters.
The first step in creating such an environment is to hire people who fit in with your company values. This way, you will avoid hiring people who do not share your values and will be more likely to stay with you for a longer period of time.
Next, set clear goals and expectations to let employees know what is expected. This gives them the opportunity to improve their skill sets in order to meet those expectations. You should also make sure that all employees have a voice within the company by listening to them when they have concerns or feedback.
One of the ways you can compensate employees for their hard work is by giving them opportunities for growth. When they show an improvement, show appreciation for their contributions.
Examples of compensation to employees:
- Achievement Awards - are given for meeting goals, completing tasks, or surpassing expectations.
- Cash Bonus - this is a lump sum that is paid in addition to an employee's regular salary.
- Employee Discounts - these are given in the form of discounts on goods or services.
- Employee Recognition Programs - these programs give recognition awards to employees for doing good work.
- Health Benefits - these include things like health insurance, dental insurance, vision insurance, life insurance, disability insurance.
Flexible working (remote working)
These days, there is a huge trend towards flexible working and remote working. This trend has been growing in popularity for many years now and it doesn’t seem to be going anywhere anytime soon.
The benefits of this type of work environment are huge, but not all companies have adopted this way of working yet.
Studies have shown that remote working can have a positive impact on employee happiness, productivity, and retention rates. This is because remote working provides more flexibility for employees and allows them to work from wherever they want.
Additionally, there is the opportunity to spend more time with their family or indulge in other interests outside of work. Employees get a better work/life balance and therefore their productivity improves.
Companies should take care of their employees by listening to them and making sure that they feel valued in order to keep them happy and motivated.
Listening to employees is not just about hearing what they have to say. It is about understanding their perspective and acknowledging their contribution.
Listening to employees is a two-way street. The organisation needs to be open and receptive, allowing the employees to be open and willing to share their perspectives.
Appreciate their efforts
There are some simple ways to show appreciation for your employees. You can do something special for their birthday or offer special benefits like flexible working hours.
If you want to show appreciation for someone, in particular, you can always go with an individual gift. This is especially good if they have done something exceptional and deserve a reward.
Many organisations introduce a reward scheme in the form of gift vouchers.
Training and development
Giving your employees the opportunity to improve their skillsets and abilities will keep them engaged, motivated and growing within the company.
Training and development is a great way for companies to show employees that they care about them as people, not just as workers.
It can also help reduce the feeling of being replaceable, which leads to higher levels of retention, lower turnover rates, and more engaged employees.
Make work an enjoyable place to be
Making work an enjoyable place to be is crucial in the modern workplace. It’s important for employees to feel like they are part of something bigger than themselves. But in order to maintain the motivation to work its important employees can enjoy being at work each day.
Care about wellbeing
When employees feel like the company actually cares about their wellbeing (physically, socially, and emotionally), it's a sign that they see them as people rather than only focusing on the success of their work.
Conclusion to the importance of employees feeling valued
Valued employees work harder, stay with the company longer, and are more committed. It can lead them in turn to feel confident in themselves and their position within the company.
The importance of making employees feel valued is not a new concept. However, the way we go about it is changing. Employees want to be treated as individuals and not just spreadsheet numbers. Provide opportunities for growth and development, have open communication, and let them know that they are valued.