It Saves More Than It Costs To Look After Employees

As an employer, you are in charge of more than issuing paychecks in exchange for labour. You are more than the leader of a team and the direction that the business needs. You are responsible for your team. Unfortunately, there are many businesses that don’t recognize that responsibility as well as they should. They believe it costs too much to put in place the practices that care for their employees. However, that’s not necessarily true. If you consider it an investment, you’ll see you can gain a lot more than you spend by being a good employer.

Rights are mandatory

First, let’s get the potential for legal trouble out of the way. It’s never worth trying to cut the corners of the rights of your employees. Not only is it entirely unethical, but you’re more likely now than ever to get in trouble with it. Thanks to the internet, people are becoming more and more aware of what their rights are. If an employee believes the workplace poses a threat risk, that you’ve been unable or unwilling to pay them on time as they deserve, including overtime, or that they have been terminated unfairly, they are more likely than ever to pursue it legally. It’s not enough to believe you’re treating them within their rights. Ensure you have things like health & safety and HR policy put in place.

You better recognize

A good employer does more than know the rights of their team, of course. They work actively to keep employees happy with their workplace, not just coping with it. Sometimes, it’s as simple as showing a little recognition. You don’t have to spend a lot of money to thank and reward employees for the work they’ve done. Sometimes, saying ‘thank you’ alone can be enough to make people feel like their efforts are being recognised. Failing to show that recognition means that employees are a lot more likely to be unsatisfied with their positions, to feel like they’re in a workplace that doesn’t value them and thus that they have no value in their position. People seek a position where they make a difference, even a small one, to the business that they’re in. If you fail to show recognition to your employees, you will fail to retain them, which means spending more money on the hiring and training process.

A corporate kind of care

You can offer something a lot more physically valuable than a pat on the back, as important as those can be. You can offer employees an easier way to manage a healthier life. Health benefits as mentioned by Sage are amongst some of the most attractive, especially to high-level hires. The business takes up a lot of the individual employee’s time, after all. It’s harder to manage a healthy lifestyle unless the workplace helps to contribute. These kinds of benefits will help you attract better employees and help you build a healthier workforce, too. The healthier your employees, the more likely they are to be engaged in their work and the less likely they are to take sick days.

Investing in wellbeing

Physical wellbeing isn’t the only kind that you should be concerned about, either. If your standards are high and you expect hard work from your team, there’s nothing wrong with that. It helps the business excel. However, if you’re not prepared to cope with the real effects that those demands have on employees, you are putting them at right. Stress, poor work-life balance, burnout and even breakdowns are commonly caused by pressures at work. A business can provide easier access to crisis solutions from teams like Health Assured. Not only does it pay to recognise when employees are reaching their ‘boiling point’. You can help them get back to work a lot quicker if you’re proactively involved in the process.

 

Building better employees

Finally, we’ll look at one of the most neglected needs in all businesses: the employee’s need for progression. You don’t necessarily have to be able to offer internal promotion, but you should be concerned with the growth of your team. Training, delegating new responsibilities, and offering new experience through an employee development plan can give members of the team the sense of progress they need to be happy in their position. Otherwise, they’re likely to sooner come to the conclusion that they’re in a dead-end job which will, again, bring on all the costs of failing to retain them. The other option is that you spend a little time and money to end up with more competent, confident people in your team.

Hopefully, the points above stress one thing. You save a lot more than just money if you look after your employees. You save the culture of the workplace, the wellbeing of your people, and you save yourself from a lot of trouble down the line. It’s always good business sense to take the extra step in being a better employer.

Michael Foote

Quote Goat’s founder and money-saving enthusiast.

Michael FooteIt Saves More Than It Costs To Look After Employees

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