Money is important but there are things that are more valuable than money.
Most businesses are under the impression that employees only want money and the only incentive that works is a pay raise. This is a sad misconception. The fact is that there are things that employees value more than a pay raise. Employees want to be treated well. When you treat them well they won’t mind working for you even if the pay is pretty less.
Take a look below to find out what employees really want from their bosses:
They Want to be Treated Well
When I say ‘well’, I mean that employees don’t want discrimination or partiality. They want equality. Employees really can’t stand favoritism. You should look to reward only those who work hard instead of focusing on those who know nothing but to suck up to you.
They Want to Give Respect and Take Respect
Respect is a two-way thing. You can’t expect your employees to respect you unless you respect them and their presence in your business. Also, you should prove that you are worthy of their respect. That is the mark of a true leader.
They Want to See you Fire the Pricks
Every workplace has at least one person who wrecks the mood of everyone else. Employees want more than anything else to see you show the door to these pricks. If you don’t do it, you are a jerk. [Harsh but true.]
They Want to be Mentored
Mentoring and coaching your employees is one thing and micromanaging them is another thing. Help them when they ask for it. Help them when you feel they are too scared to ask. That is all. Don’t stare at them all day as they work.
They Want to Feel Secure
Of course, your employees are not looking for something like tenure but they won’t be able to work if the sword of being fired hangs over their head all the time. Give them the assurance that they are not wasting their time working for you.
They Want to have a Happy, Personal Life
For you, your work may be your life [which is actually wrong] but that doesn’t mean you expect your employees to work late each day and to be at your beck and call at all times.They are committed but that does not mean they have to work always. Cut them some slack and dial down the stress so that they can enjoy with their friends and family.
Satisfy these wishes and you won’t have to keep giving your employees a raise all the time to retain them.
Employees value a raise but more than that, they value peace of mind at and away from work. They want to be respected and treated fairly without partiality. They want to feel secure.