Forget the dull and dreary office environments of the pre-millennium era. Innovative practices, collaborative spaces and inventive thinking now illustrate the ideal workplace. The days of old promised a future sustained by pensions and retirement plans. As more millennials enter the workforce and Boomers retire, money no longer defines happiness in the workplace. A study by PayScale and Millennial Branding reveals the average tenure for Millennials is two years. A significant change when compared to Baby Boomers' seven-year average. The hand-picked talents in your organization are darn near irreplaceable, and keeping them requires a balance of financial security combined with inspiration, leadership and respect. Regardless of age or generation, workplace expectations are changing. Reduce costly turnovers by encouraging a workplace morale fit for the modern era.
Virtual Water Cooler
Social media is the new water cooler. Embrace it. Facebook and Twitter (among others) mark today's preferred methods of communication. It's where users go to gain information, share news and interact with each other. An Important factor for most employees but a must for Gen Y'ers; Cisco reveals that 56 percent of Millennials won’t accept jobs from companies that limit social media use. Prohibiting social media is like condemning conversation. Instead, use the powers of social media to your advantage. Empower employees to become social advocates like e-commerce giant, Zappos. In a recent CNN interview, Zappos CEO Tony Hsieh states that companies that care about their bottom line should make employees feel like a family. Leading by example, Hsieh ensures every employee lives the brand at home, in the office and through social media.
Back to Basics
Small businesses present employees with greater opportunities to meet challenges and big decisions. Although today's recruits let go of big salaries in exchange for meaningful work, a steady paycheck is a must. New and growing businesses often overlook this basic need. The growing responsibilities faced by overwhelmed entrepreneurs cause tedious tasks to slip by the wayside. Services offered by Intuit Payroll simplify the payroll process with automation. Keep employees happy by remaining consistent. The intuit program also calculates and files payroll taxes so you can take the focus off accounting and focus on establishing a winning company culture.
Your company thrives on creativity and innovation and so should your benefits. Attracting unique individuals to enhance your company culture takes more than standard health benefits. Families no longer fit traditional standards and they seek companies with a progressive outlook toward family dynamics and alternative lifestyles. For example, more families consider pets—fur babies as regarded by loving owners—as part of their families. According to VPI pet insurance, voluntary benefits such as pet or identity-theft insurance are cheap ways to offer more with less investment.
Show Some Love
Simple appreciation and thank yous go a long way. More than ever, employees want to be recognized for their hard work. A Bersin & Associates study shows that modern recognition programs dramatically improve employee engagement and reduce turnover. Using programs like Achievers to track, measure and manage employee recognition makes it easy to share praise. Don't neglect the power of peer-to-peer feedback either. The software also provides a social hub to encourage company-wide feedback, not just from the top down.
What other strategies have you used to keep employees happy? Share in the comments or tweet @EnteloRob!