Motivate Your Staff With Tax Free Perks. No Pay Rise Required
Motivated staff are more likely to work hard, innovate and stay with a company for the long term. Sure, money can be a factor; however, research into employee performance and retainment shows that money isn’t all that employees care about. Fortunately, this means that you can motivate your staff without breaking the bank.
Moreover, you can even claim certain costs on your tax return.
Celebrate achievements and birthdays
One of the things many employees complain about is a sense of being undervalued at their workplace. For instance, their hard work goes unnoticed. Over time, this can lead employees feeling disillusioned about their role within the company.
Here are some simple/inexpensive things you can do in order to celebrate achievements and birthdays:
– Celebrate staff birthdays by arranging a card and cake on their special day.
– Give a gift voucher or thank you card to staff members who go above and beyond.
– Pull staff member aside and let them know that you appreciate their effort.
Boost their skills
We live in an increasingly fast-paced world; therefore, it is more important than ever that your staff have a range of skills. This doesn’t just increase the amount of value you can get out of them, but also ensures that you are able to compete.
Fortunately, websites such as Udemy, Lynda and Skillshare enable you to buy access to courses at a discount. Depending on the structure of your business or organisation, it might be VAT exempt too.
Take care of their well being
Employees need to know that you care about their wellbeing. When employees feel undervalued, they start looking for other options. This is especially true of top performers. One of the best ways of showing that you care is to contribute to a pension and/or towards a thorough, annual healthcare checkup. Furthermore, you could also make healthy foods such as fruit available for free at the workplace.
Notably, eye tests are a legal requirement at any business which has its employees using computers for much of the work day. You could also offer a free gym membership to employees who want them. Even if they refuse, the gesture shows that you have their best interests at heart. This can go a long way to boosting morale.
The better your employees feel about themselves and future prospects within the company, the higher their level of performance.
Equip them with the right tools
We live in a fast-paced technological world. Software and gadgets enable your employees to get their work done more efficiently. As a result they are able to carry out more tasks which increases the bottomline. Therefore, it is worth doing an annual review of your equipment and software to see whether upgrading them might save your employees time.
Fortunately, this doesn’t have to be expensive. PC parts can be upgraded and software can be bought in bulk. Small changes can make a big difference.
In conclusion, you don’t have to offer staff a pay rise in order to see a significant increase in performance. Taking care of staff members is at the core of any successful business or organisation. Have their best interests at heart, give frequent feedback and build an inclusive atmosphere. Do that and you will have little to worry about.
Article provided by: Chris Conway of Accounts and Legal
Image courtesy of Graphics Mouse / FreeDigitalPhotos.net