Even in relatively prosperous times, many businesses struggle to meet the pay demands of their staff. It is not that they are unwilling to see hard work properly rewarded. It is just that margins are often so tight that they feel they do not have room to manoeuvre. Add to this the pressure caused by the constant increases in transport costs, power and other overheads, and it seems the only choice is to squeeze salary costs.
Nobody wants their staff to feel undervalued. It is important therefore to look at other ways to increase employees’ overall packages.
Look at increasing annual leave particularly for those employees who have been with you longest. The thought of losing the extra week’s holiday they have built up will often dissuade long serving staff from leaving for higher paid jobs.
Staff will get more job satisfaction, the more control they have. Give them responsibility and the authority to act on that responsibility. You will do less micro-managing and your employee will feel trusted and valued.
Training will not only benefit your organisation in the long run, it will help with your employees’ job satisfaction. Individuals will always appreciate properly targeted training as it demonstrates a company’s commitment to them and their personal development.