The Entrepreneurs Guide to Keeping Employees Happy Without a Raise

The Entrepreneurs Guide to Keeping Employees Happy Without a Raise

Running a business can often feel chaotic; with so many important areas to monitor and manage all while searching for efficient ways to grow your brand. However, savvy entrepreneurs should always first consider their employees as they are the foundation of your brand. Therefore, before you start implementing change in hopes of achieving notable growth, you should consider the following ways to keep your employees happy without offering salary increases that you may not be able to afford just yet.

Don’t Neglect the Basics

When it comes to keeping an employee happy, the basics span far further than merely providing a paycheck each month. You will need to set up a payroll system that will ensure your employees are paid accurately and on time. UK payroll basics also imply that how you pay your employees will impact your tax compliance. This is because each employee will need to be registered for pay as you earn (PAYE) scheme that ensures your business is tax compliant. Other details payroll will cover include unemployment funds and additional funds that your employees may be required to pay according to the legal specifics of your region.

Add the Affordable Extras

Merely paying basic salaries is often not enough to insinuate just how much your team means to the business. Adding little extras to their payslip can make a massive difference to employee loyalty, which directly influences your ability to retain top talent. These affordable extras can include life insurance premiums, disability cover, medical aid cover, and other policies. Your employees will feel appreciated simply by noting the little extras they are offered by your business, even if it is only a basic disability policy that they would not otherwise be able to afford.

Make Work-Life Balance a Priority

Overworking your team means that they won’t be able to function at their best. Rather than overloading your team with immense workloads that could result in burnout, you should ensure that work-life balance is a crucial priority for your business. Any efforts dedicated to encouraging work-life balance for your team will directly result in happier and healthier employees that can be as productive as possible. You should ensure employees have enough time off and that they are not expected to sacrifice time off from work with no reward continually. Even offering extra vacation time will be massively appreciated by your team.

Offer Career Growth as a Standard

If your business does not offer employees career growth opportunities, your talent retention will showcase loss. Rather than negligent keeping your employees working in the same positions year after year, you should consider offering training and growth opportunities that will benefit both your employees and your business. Online training courses or short courses are realistically affordable and can make a massive difference in terms of employee engagement and several other factors. In addition to offering training, you should also provide open positions to existing employees before expanding the search to external professionals. Training your employees also means you will be bettering their core functions; essentially transforming average employees into company assets.

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