One thing the franchise business continually suffers is a high turnover rate for your employees. There will always be loyal employees who naturally find fulfillment in teamwork as well as the simple enjoyment of accomplishing a day’s work and receiving the just reward for it. However, as employment rates rise and the job market once again become less competitive for people looking for employment there begins to be a certain pressure on businesses to provide a work environment that is both fulfilling to every employee as much as it is also productive. When faced with this conundrum, most employer’s merely turn a blind eye and allow the managers to feel the brunt of staffing stresses. But investing in your employee’s happiness can be simplistic and rewarding in it’s own way. When your employees are happy, they stay longer, become better at their jobs, and reduce the turnover rate and therefore the cost of hiring multiple different people at different branches per month. We’ve arranged a few suggestions on how you can invest in your employees the way that they’ve invested their time into your business.
Invest in Employee Development
We’ll go out on a limb here and claim that most employees see a correlation of improvements in their personal life and their career at the same time. One begets the other, in most folks minds. Somebody who is well-developed both professionally and personally provides value to the business and sees a reward in helping the business because they associate it with helping themselves. This is not to be confused with a workaholic who is sacrificing their health and working harder than they have to in a way that is putting their health and wellbeing into question. The best way to avoid turnover and employees that feel stagnant is to introduce an individual development plan. This puts their personal and professional long term and short term goals onto the same playing field. It empowers your employees to improve in both at the same time and find more fulfillment in their jobs. Start by asking each employee “Where are you now?”, “Where do you want to be?” and “How do you intend to get there.” It puts the ball in their court, but it gives them the sensation that it’s a partnership between the two of you. After all, their success at your business is your success as well.
Or rather, let them get some skin in the game. When employee’s have a sense of ownership over the company’s success, even on small things like tasks and individual projects, it inspires unity. Fix achievement markers to tasks and projects and reward your employees when they go above and beyond. This can come in the form of a simple acknowledgement on your company’s social media or you can try the Wow app. Workpulse offers a suite of franchise management apps that let you record data and communicate with your employees easily, but Wow, allows you to reward them with points for each job well-done. Those points can accumulate to allow them to purchase various prizes like gift cards and electronic items.
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