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It’s easier than you think, as a business owner, to be generous. You can be flexible with your working hours, offer insurance and other perks, and treat your workers to gifts from time to time. It might seem like all you’re doing is shelling out money for no purpose, but that couldn’t be further from the truth. Here are four of many ways that your workplace generosity can come back to reward you. Once you’ve finished reading, you’ll wonder why you didn’t treat your team long before now.
Productivity
If you value and appreciate your team, and treat them to gifts such as branded promotional products, they will repay you with a surprising boost in productivity. Workers who know you will always go the extra mile for them will offer the same commitment in return. Never be afraid to show your appreciation with small tokens of your appreciation here and there. The next time you require a few hours of overtime on a Friday night, they will be far more likely to oblige.
Staff Retention
As many as 79% of employees who have left employment did so because they felt a lack of recognition for their hard work. Around 65% said they received little to no generosity or gratitude, and 82% in the OC Tanner study said they felt their supervisor didn’t appreciate or recognize their achievements.
Employees who feel undervalued and unappreciated are more likely to leave, but what if you could turn that around? If you are more generous with your time and gestures of appreciation, then morale will be higher, and staff retention will be a natural flow-on benefit.
Happiness
Think about how happy you are at Christmas time, on your birthday, or even when you get free samples at the grocery store. A gesture, a token, or a sign of appreciation like custom glass trophies can be all it takes to evoke momentary feelings of happiness that pool together into a permanently positive working environment.
It also helps to think about what your workers want the most. A branded travel mug is undoubtedly going to put a smile on their faces, but so too will time off work to pick little Jimmy up from soccer. Going a level further, you can allow employees to work remotely while they care for sick children or maintain a healthy work-life balance. If you offer your team a little freedom and flexibility, they will reward you with a valuable and happy work environment that can only benefit your business.
Profitability
It can seem crazy to think that being generous with your staff can make you money, but that’s the truth. When your team is happier, they are likely to be healthier, and in turn, less likely to need days off work. A worker who hates their job is more likely to suffer from headaches, stomach irritability, fatigue, sickness, muscle aches and pains, and poor mental health.
Sick days cost employers over $225 billion annually. If you can reduce the number of sick days your team takes through favorable working conditions and generosity, you can’t help but benefit.
A small gift, flexible working hours, insurance, and remote access are a few of the many ways in which to promote a positive working environment. If it’s not enough that your staff seem happier, healthier, and more excited to go the extra mile, then the long-term financial benefits should surely convince you.
Take the time to think about ways to make your team feel valued, appreciated, and loved. It won’t be long until it comes back to reward you.