Nurturing employees’ sense of value is important for running a successful business, especially in 2021. With the ongoing shift to remote work, professional responsibilities are just a click away. The proliferation of job networking platforms is introducing professionals to dozens of new opportunities on a daily basis. Because of this, your employees are likely assessing how they feel about their current roles and keeping an eye open for greener pastures.
As a result, it is critical to ensure that employees feel valued in order to guarantee their commitment to your company. An American Psychological Association study found that 93 percent of professionals were more likely to perform their very best if they felt valued by their employer, versus a mere 33 percent who were motivated to do their best for their own intrinsic reasons. The same study also found that employees who felt valued were also much more likely to recommend their company to a friend and were far less likely to seek new employment opportunities.
Clearly, nurturing your employees’ sense of value should be a top priority for your company. If you are looking for ways to set this initiative in motion within your organization, consider the following six ideas for how to make employees feel valued.
Create Innovative Compensation Packages
There is no denying that salary and wages are correlated to employee value. Simply put, if you pay an employee more, he or she will feel better about their job. This explains why, after a challenging year in 2020 due to the pandemic, most U.S. companies are doing everything in their power to reinstate bonuses and implement raises. Studies show the average salary likely will increase by 2.8 percent in 2021.
However, the modern professional is motivated by far more than money. The traditional nine-to-five office environment is quickly fading, and so are the traditional ways in which professionals live, love, relax, and consume. This creates the opportunity for companies to create unique benefits packages that will appeal to a contemporary workforce. While staples such as health insurance and retirement contributions are still important, Perkbox found that 66 percent of modern employees view customized benefits as a personal investment that would increase their loyalty to the company. Some innovative benefits ideas that are sure to help employees feel recognized and valued include:
- Flexible schedules and leave policies
- Paid childcare
- Gym memberships, counseling sessions, and other perks to help improve employee well-being
- Subscriptions to popular online services and entertainment platforms
Modernize the Workspace
By investing in top-notch facilities, you are telling employees that they are worthy of working in the best environment possible. Forbes magazine reports that 87 percent of professionals would like their employers to offer healthier workplace benefits. Some effective ways to do this include offering on-site workout and meditation spaces. You can also provide open and inviting work areas that optimize the benefits of natural sunlight. Living walls that incorporate elements of nature and sustainability into the work environment are good as well.
Keep Remote Workers Engaged
While there are many benefits to remote work, there’s one drawback. Remote workers have a tendency to feel isolated from their peers. Studies show that some 20 percent of employees feel isolated when working from home, which can cause them to experience marginal feelings of value about their role within the company.
Therefore, it is critical to find ways to keep your remote workers engaged. Frequently build company- or department-wide video calls into the work schedule. This reminds remote professionals that they are an important part of the team. Make use of the power of social media, as millennials are increasingly motivated by social media recognition. Studies reveal that 82 percent of modern professionals feel that social media has the ability to improve their work relationships, making it simple to strengthen commitment to the company through a quick post, like, or comment.
Provide a Foundation for Growth
Professionals will question their value to the company if they feel trapped in a dead-end job. Yet, 68 percent of employees feel like their company doesn’t care about their career advancement. Therefore, provide the framework for employees to learn new skills and communicate how these skills are valuable to the industry. Discuss roles within the organization that you could see them attaining in the future. Encourage them to attend networking events where they can establish meaningful connections to advance their careers.
It may seem like people shy away from work that is too hard, but employees are actually happier in roles that they perceive as challenging. Some creative ways to challenge employees include:
- Implement job rotations, where employees are working on new projects with regularity.
- Include employees when creating job descriptions, and make them feel like a part of the hiring process for similar or subordinate jobs.
- Offer incentives for professionals who are able to attain specific goals.
Don’t Shy Away From Critical Feedback
Although it is intuitive to think that critical feedback may be perceived negatively by employees, Harvard Business Review actually found that 57 percent of professionals preferred corrective feedback over praise. Employees want to see that you care about their improvement and advancement within a role. Taking the time to offer constructive feedback on their performance demonstrates that you view them as valuable assets.
The Best Ways to Help Employees Feel Valued
Employees are more likely to give their best efforts and less likely to defect when they feel valued by their employer. Both are relevant factors to a company’s bottom line. By intentionally implementing the six aforementioned ideas, you can take significant steps toward helping your employees feel valued.