The most valuable commodity in any business is its people.
Finding good people can be a challenge, so once you have them, you want to make sure you keep them.
Now that the economy is rebounding, businesses should look at what they have cut from employees – raises, 401(k)s, bonuses, etc. – and consider restoring some of them, according to Sandra Miles, who heads the Miles Employment Group, a staffing firm in British Columbia. Miles gives this and other tips in a recent article that appeared on hr.blr.com, the human resources arm of Business & Legal Resources, a compliance information company.
“Pick out a few less expensive options, like the 401(k) match or pizza luncheons,” Miles says in the article. “Then put together a committee of employees to arrange an outing of some sort, at company expense, that will be billed entirely as a morale booster. In fact, that message of boosting morale should be just the first in a major communications campaign.”
For that communications campaign, Miles recommends over-communicating by explaining exactly what the company is doing financially and operationally and what plans are in the works for new products or services.
To read the entire article, click here.