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I have always felt that the most valuable resource for any venture is it’s human resource. It’s the resource that needs the least input for the most ouput.A team that has been working you for a while and you’ve handpicked is almost a treasure trove. It is important to retain this valuable and also to learn how to make optimum use of it. The top five ways of doing this are:
1) Provide Benefits: Provide health benefits, tax benefits, investment options etc.The employee will feel cared for when their basic needs are looked after.
2) More Personal interaction: If you are a small business owner, it is that much easier for you to keep track of employees’ birthdays; anniversaries etc.Personal interaction makes the employee that they are important for the functioning of the company and will be inspired to work harder.
3) Direct Channel of communication: Ensure that there is a direct channel of communication between the highest branches to the lowest within your organization. Even the junior most employee should be able to express himself/herself without having to go through tons of paper work or levels.
4) Recreational activities: Try to organize recreational activities such as company picnics, movie nights etc.this keeps the employees enthusiasm for the work place or the office, high and is thus conducive to a happy, work environment.
5) Incentives: Add an incentive to every target and dole them out regularly to the employee who meets the goal. Incentives work to encourage employees to work better and harder while ensuring that it never feels like forced work.
A creative business owner can think up more ways to retain his/her valuable human resource base. These are the top 5 methods which are guaranteed to work, however there are no limits to the ways in which you can keep employee loyalty. But it’s always important to make sure that this is one area where, you, as the employer never slack. Even the smallest positive change in your relationship with your employees will result in phenomenal growth of your business.
