Are You Really Saving By Cutting Back?

Recession, tighten our belts, cut backs, retrenchment and ‘batten down the hatches’. This is what we constantly hear and read in the media about businesses and the year ahead.

Does this mean we should all live in fear of loosing our jobs, expect prices to sky rocket and escape somewhere else? Does it mean we need to stop living the great Australian way of life and start sacrificing our leisure activities, cut back on the kids after school activities and save every spare cent? All this, whilst we work extra hours so our employer sees us as dedicated and for no extra remuneration.

Hang on a minute – we all deserve more respect than this in our jobs. Remember good people are hard to come by in any economic time. Isn’t the company’s best asset its employees? If businesses start loosing key people in their business where are we really heading?

Have we forgotten the investment that has already been made into the staff - recruiting, training, empowering and nurturing them? Our employees have years of knowledge and understanding of the business that can’t be documented and passed onto the next person. Now that the times are getting tougher is it not always the right decision to retrench or cut back on company benefits?

What should we be doing?
Michele and Silvana are the directors from LifeStyle Refocus; a Melbourne based Lifestyle Management Company. They recommend that we should still be looking after our employees so they don’t become disgruntled due to company cut backs. Investing in staff and looking after them is crucial in any economic time.

LifeStyle Refocus works with businesses in Melbourne helping give employees real work/life balance while still getting maximum productivity from staff. Silvana quotes “it is usually the small things we do for an employee that keeps them happy and content in their jobs – it is not always about monitory rewards”

We all appreciate being acknowledged and thanked for our efforts. Whilst at Christmas time our tradition is to do this on an individual basis, it is important to thank staff for their contributions on an on-going basis and as a team. Although economic times are tougher, employees still need to be acknowledged in some way so they don’t feel the need to move on once the market eases up.

LifeStyle Refocus can help businesses look after their staff by offering incentives and rewards. They also offer team building activities which brings employees together for a shared experience which is not only fun, but builds morale and team spirit. All the rewards and incentives are tailored to your business structure and culture.

Michele and Silvana from LifeStyle Refocus are proud of their business which offers staff incentives and rewards. Find out more about Lifestyle Refocus at www.lifestylerefocus.com.au or contact Michele on 0437 311 802 or Silvana 0417 595 744.

Practical Staff Retention Ideas

Following from last weeks blog regarding focusing on staff retention rather than recruitment I felt it was appropriate to provide some positive solutions or ideas. The objective is to create happy and loyal employees. Elements are taken from an article written by Nukte Ogun in May 2008.

1. Salary
One of the biggest employee motivators, pay is what attracts us to most new positions and encourages us to stay.

2. Remuneration package
Think about other perks, besides pay, which you could use to lure and keep staff, including salary sacrifice, bonus super and novated leases.

3. Respect
Your grandmother had it right: treat others as you would like to be treated.

4. Resources
Staff tire pretty quickly of faulty and out-of-date equipment. It doesn’t have to be the newest or the best (it’ll help if it is though!), but it all needs to work.

5. Green factor
Green is in, and we’re now looking at a company’s vision before signing on the dotted line.

6. Location, location, location.
News flash: we don’t want to work hard to get to work. Consider parking and public transport availability when setting up shop or making a move.

7. Leadership
Make yourself approachable and available and give updates about changes in the business.

8. Recognise and compensate
It might seem obvious, but we hate not getting paid for work. Whether cash compensation or time in lieu, reimburse us if you want to keep us!

9. Take responsibility
Own your mistakes; don’t just dump them on us. We all make mistakes, so we’ll appreciate your maturity and show understanding when you make them too.

10. Listen
How often do you listen to your staff?

11. Follow-through from management
When issues are raised, do something about it.

12. Dress code
Adopt a relaxed dress code, or at least casual Fridays—it’s still a winner for many of us.

13. Goal-setting
Believe it or not, we actually like working towards something.

14. Fostering skills and ability
Training is a great way to ensure we don’t becoming stagnant and can move into new positions. Would you like being glued to your chair?

15. Incentives and bonuses
The best gifts are thought out and meaningful, so consider spa sessions and massages if your employees need to relax, or give out simple hampers at Christmas; a time when we’ll really appreciate them.

16. Adequate and stocked facilities
We don’t like nagging for supplies—so don’t make us.

17. Personal days
Even for those who love their job, work gets a little blahblah at times. Who wouldn’t want the occasional breather?

18. Coaching and mentoring
We actually like to learn in our jobs, and when managers take the time to coach or mentor, their charges tend to ‘blossom’ under their tutelage.

19. Reverse mentorship
Don’t be afraid to learn from us. You might be surprised by what we have to offer.

20. Job sharing
We like having time. And you might find that two part-timers suit your needs better than one full-timer.