BusinessFinance

4 Investments small businesses can make to retain employees

4-Investments-small-businesses-can-make-to-retain-employees

Fact: highly engaged employees are more productive. According to statistics, highly engaged employees are 38% more likely to have above-average productivity. Employers need to make sure that they create a thriving environment for their employees.

Google is known as one of the best companies to work for in the world. This is pretty impressive seeing as though the company has over 50 000 employees spread throughout the world. The company’s philosophy is: “To create the happiest, most productive workplace in the world.” By providing their employees with everything they need to be productive as well as pampering them, they have raised a team of motivated, value-adding and loyal employees. I’d take a few tips from Google – and I don’t mean buy an adult sized slide or erect food stations all over your office.

Invest in your employees.

The purpose of smart investments should be to bring about positive changes in your workplace. Offering your employees pay raises, flexible work times and better coffee at work may keep them happy for a while, or win you best boss of the month a few times; however, to keep your employees happy long-term, you need to make smart investments in your office space that will help your employees be more productive and happier in the workplace.
The investments you make should add value to your business by:
  • Offering a greater return on investment,
  • Improving workflow, thus saving time,
  • Improving customer experience, or
  • Improving employee experience.

Here are great investments you can make for your business:

Office space

The bigger the office space is, the more you have to pay. This is an unfortunate truth; however, spending more money on space will not only make your employees feel less cramped and more productive, but it will also give your business room to grow.

Consider changing up your seating arrangement too. While cubicles have been popular for the last few decades, collaborative workspaces promote a more interactive work environment for employees.

Invest in reliable equipment

If you want your employees to be productive and innovative, make sure you give them quality, useful equipment. For example, investing in an all-in-one printing solution for printing, binding, folding, stapling, booklet making, punching and more for in-house and business printing, such as a Riso ComColor Inkjet Printer, can improve productivity and lower costs in the workplace.

Invest in technology

Embrace the age of technology by buying modern tools for your workplace. Digital tools have a huge impact on productivity, especially ones that help smooth internal and external processes such as IT Management, marketing and sales.

 

Invest in employee education

If you want your business to succeed, you need to make sure you have skilled and knowledgeable employees. Small businesses may not find it necessary to spend money on educating their employees, but neglecting education usually costs employers down the line. Educated employees are more motivated, have higher levels of engagement and are more loyal to their company.

Do you agree that these 4 investments are important for businesses? How else can businesses keep their employees?

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