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Archive for May, 2019

Four Ways To Improve Employee Morale That Don’t Include Giving Them A Raise

It’s no secret that employee morale is important to the overall success of a business. A positive and healthy work atmosphere is not only more pleasant, but also can have a direct effect on performance, productivity, and ultimately on your business bottom line.

There are many reasons why good employee morale is important in the business context: First, it can help improve employee retention and reduce turnover levels. This is especially important in industry sectors or geographic areas where there are talent shortages. Linked to this, good morale has been linked to lower absenteeism levels. Third, these two factors have a direct impact on business performance and productivity, which is especially noticeable in small businesses. And fourth, high morale does impact customer satisfaction and helps build a stronger business reputation.

Many firms offer financial rewards to boost employee morale, but does this approach always work? The problem with financial incentives like stock options and annual bonuses is that they fail to generate genuine interest and engagement in work. Employees can be fairly compensated and still feel disengaged. This is not to say financial rewards should be scrapped, but rather complemented with other ways of boosting staff morale, such as the ones described below.

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