Your employees are the most valuable asset of your company, but just because you know that doesn't mean they do. So what are the things you can do to ensure your employees are happy at work (without having to spend an arm and a leg to do so)?
We asked seven entrepreneurs from FounderSociety the following question:
Q. What’s one inexpensive way to improve employee happiness and productivity in the workplace?
1. Compensate them fairly
Providing fair compensation for stellar performance is a very inexpensive way to increase employee happiness and boost productivity. Money talks, and everyone needs it. In the long run, increased staff retention rates greatly reduce company costs of sourcing, hiring, and training new staff. Having a fantastic company culture and workplace is important as well. —Angela Delmedico, Elev8 Consulting Group
2. Listen to your team
Employees need to feel that their concerns are being heard. Motivation could be affected if they're not able to express what’s troubling them. At my company, we have an old-fashioned, anonymous suggestion box, which encourages all kinds of input without feeling called out. We also like to do a one-on-one meeting or "FaceTime with the boss" so employees can discuss their ambitions and where they see themselves headed. —Jessica Baker, Aligned Signs
3. Relinquish control
Giving up power and trusting your team to make great decisions inherently improves happiness. All of us feel great when we're good at our jobs, have great relationships with coworkers, and have the freedom to make productive decisions in the workplace. —O. Liam Wright, True Interaction
4. Say thank you
Treat your employees with dignity. Congratulate them when they do their jobs well, and offer constructive criticism for their mistakes. I've found a good rule of thumb is to always group negative feedback with positive feedback (i.e., “You’ve done an excellent job at X; however, Y could stand to be a little better.”). —Steven Buchwald, The E2 Visa Lawyer
5. Find out what's best for them
Take your key employees out to lunch and ask questions so you can understand what motivates them. When every player on your team is in the right position, productivity and happiness soar. Maybe you'll have a "first baseman" play shortstop or vice versa, to use a baseball example. When you find out where your employees perform best and where they prefer playing, you'll see a cataclysmic shift. —Amy Pazahanick, Agape Ventures
6. Make your work environment fun
Cheer everyone up and make the workspace fun by playing music; have people put in requests for what they'd like to hear. We also have a small basketball hoop so that we can shoot some hoops when we're taking a break. —Ajmal Saleem, Suprex Learning
7. Create space
Create space by changing the workday's normal pattern for an hour or so. You can create space for your employees by letting them take the afternoon off, holding a lunch-and-learn, having one-on-ones, going for a walk, etc. —Arry Yu, GiftStarter.com
