When you start a business, you obviously want it to grow and thrive. Aside from profitability and happy customers, happy employees are essential to the success of any company. However, as we expand it’s essential we retain our corporate culture and ensure our employees do not become lost in the trenches of expansion.
Scaling up can have significant impacts on your employees. With a few effective practices, you can keep the focus on your employees as you continue to grow your business.
Preserving Culture Pays Off
As your company grows, it will offer less access to its founders and fewer opportunities for recognition early employees have become accustomed to.
Across hundreds of companies surveyed by Great Place to Work, employees’ scores for executive effectiveness, innovative behaviors, and exceptional treatment were among the fastest to decline as companies increased in size. While their competitors struggle with lower productivity, great employers will retain their employees while attracting the brightest recruits.
Offer Unconventional Benefits
As new innovative technologies emerge businesses have automated their HR tasks and embraced the powers of the cloud and Internet of Things (IoT). So why should you adhere to traditional models for benefits?
While you want to ensure employee benefits remain cost-effective, it’s important to remember the cost of recruiting and training a new employee versus retaining your current employees. Studies show that the actual cost of replacing an employee can amount to more than three times the employee’s annual salary depending largely on the time it takes to fill that position. Not to mention the indirect costs associated with the impact on the customer and organizational credibility.
Try to remain open to special requests for time off, such as extended holidays. Why? When employees receive the time off they need, they return to work recharged, refreshed, and enthusiastic about their work. In addition to bonuses and recognition for a job well done, little incentives go a long way in showing your employees you care about their happiness. Consider taking your team out for lunch, offer snacks in the office, or organise a company event (i.e. a football game, a corporate fun day, etc.). Little perks like these can make your growing business feel more like family than a workplace.
Stay Connected and Encourage Communication
Maintaining communication is essential to fostering productivity. As you scale your company, it’s vital to keep the lines of communication open across your organisation.
Given the on-the-go nature of our society, employees must be able to communicate effectively when they are away from the office. Leveraging technology, employees can communicate in real time on their mobile devices. Not only will this boost employee engagement, but it will also increase retention, productivity, and ROI.
MenaME® is MenaITech’s flagship Employee and Manager Self-Service (ESS/MSS) solution. Our innovative platform empowers your HR department by giving your workforce access to their information and basic HR requests from their computers or mobiles without the need for wasteful paperwork or phone calls.
Think back to when you first started your business. As you strive to scale your business, remember your company is only as stable as its workforce. A great organisation must rely on the talents and skills of its employees to thrive. In maintaining your corporate culture and ensuring your employees are satisfied and fulfilled, you can continue to scale your business while retaining your employees.
If you’re interested in learning more about how to empower your employees and HR managers with the tools they need to thrive, we’d love to help. Contact a member of our team to learn more.