If you’re running a business in the UK, it’s highly probable that your staff are your most important assets. Losing them can be enormously costly in the long-term, as high rates of staff turnover mean having to pay considerably to get the replacements up to speed, and losing out on the productivity that comes with an experienced, expert member of the team.
If your staff perceive that you’re not investing in their future, then they may well decide to look elsewhere. Which is as good a reason as any to invest in your staff. But exactly what might that investment look like? In truth, it might come in several different forms. Let’s take a look at a few of the more significant.
Training
In certain industries, like construction, training is critical. It’ll ensure that your workplace is a productive and safe place to be. If you’re willing to invest serious amounts in developing your workers over time, then it might be taken as a show of good faith. After all, you’re not going to recoup that investment unless your worker sticks around for the long-term.
Training should be offered to new recruits as part of an onboarding process. This will allow them to get up to speed with the idiosyncrasies of your business, and hit the ground running. As such, the right training can reduce your rate of staff turnover.
Tools
Without the right tools, some jobs are next to impossible. With them, those jobs are quite straightforward. For example, in the construction industry, a green laser level might ease the process of putting up a set of shelves.
Whereas in an office setting, automated software and tools may make internal processes, like paying invoices, quicker.
Equip your staff properly, and you’ll improve morale and productivity, and suffer from fewer injuries and absenteeism. You might also make the business more energy-efficient, too.
To get the best from your tools, you’ll want to make sure that they’re appropriately cared for. This might mean setting up a schedule for inspections and maintenance. This will help to ensure that your tools are as effective and long-lasting as possible.
Perks
All workers like perks. Research from the Employee Benefit Research Institute indicates that around three-quarters of employees consider perks very important to their decision to take a new position.
The exact shape of the perk might vary. You might find that vouchers, a superior pension, or a healthcare plan can attract the interest of the candidates you’d like to impress. More immediate, tangible benefits, like a company car, might be appropriate if your business necessitates a lot of travel.
Listen to feedback
It might be that your employees have good ideas about how business operations might be improved. By listening to those ideas, you’ll not only benefit from them – you’ll also send the message that employees have a voice within your organization and that they’re likely to be taken seriously.
HR Future Staff Writer
