When it comes to staff retention, company perks are a good idea but they aren’t everything! It is a common misconception that any problem can be solved by throwing money at it, but there is often much more to maintaining your staff than offering them a generic bonus. Above all else, it’s likely that your employees want to feel valued. Here are some suggestions to help maintain your staff without splurging the pounds.

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1. Ask for feedback & be prepared to listen

Give your employees a chance to voice their opinion on certain topics. Create a suggestions box or organise a feedback session where staff can raise any concerns. If you are seen to be taking their concerns on board and acting upon them, then it’s likely they’ll feel valued. 

2. Look after your staff and encourage communication

There is nothing worse than when your employees feel like they can’t talk to you! Encouraging open communication can allow the free flow of ideas, often leading to a more productive and effective team. Offering your staff a little support or advice will not only help them with ideas, but may encourage them to speak up when they are feeling low – reducing the amount of sick days. Offer an ear when necessary – people like to know you care. 

3. Offer training opportunities

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Investing in your staff is important, but not in hard cash. Invest in their training, as part of their professional development. This will make them feel as if you are making an investment; it may also benefit you in the long-term, as they will develop new skills that may help your business. 

4. Consider promoting from within

This is not always an option. Sometimes you need to hire a fresh new perspective, but show your employees that there is scope for progression within the business. It will often be motivational. This may also discourage your staff from looking for a promotion elsewhere. However, this only works if your current employees have the necessary skills for any new roles!

5. Teamwork makes the dream work! 

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Build your team for out-of-office as well as in-office - working as part of a team can often develop friendships and overall happiness in the workplace. From team-building activities to away-days, this can boost employee happiness and motivation. It can also make for more effective work within work-hours. After all, a happy team is a productive one!

6. Show your appreciation

Show your employees you value them! Employee awards do not have to be elaborate or costly, but it can make a real difference to the way employees feel about themselves. Hand over that shiny medal or a cake to celebrate their birthday and you can be sure that you make an employee feel special!

There are many other ways to maintain your staff without it having to break the bank! Think about what you would want as an employee and consider creative ways to keep your staff happy.

What do you do to maintain your staff?  Do you think it has to involve money? Leave us a comment & let us know!