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What Keeps Employees Truly Happy?

  • 26 April 2016
  • Author: Cari Holbrook
  • Number of views: 2463
  • 0 Comments
What Keeps Employees Truly Happy?

Low unemployment rates are a good thing, right? For business owners, it can be a mixed bag. The current job market means that attracting and retaining top employees is critically important. Essentially, there are more jobs than there are good candidates to fill them.  

But what are good employees looking for? Is it money? Flexibility? Here are some tips from industry experts to help you form your company’s strategy for success.

 

  1. The inaugural Staples Business Advantage Workplace Index found that nearly four out of 10 employees acknowledge that burnout is a motivator for a new job search. However, small changes in this area can make a big difference—mostly in how you communicate. About half of employees say they receive too much email and the result is lower workplace productivity. In addition, many of these emails—along with phone calls—are expected to be answered outside of work hours.
  2. Millennials (today’s young professionals who have surpassed Baby Boomers as the largest working generation) seem to have no work loyalty. In fact, two-thirds of Millennials express a desire to leave their organization by 2020. What motivates young workers to stay? A recent PwC study found that this generation chooses personal learning and professional development as a first choice benefit from employers. Secondly, they want flexible working hours. Cash bonuses come in at a surprising third place.
  3. A 2015 Workplace Flexibility Study reveals 67 percent of employers think that their employees have a balanced work-life, yet almost half (45 percent) of employees feel that they don’t have enough time each week to do personal activities. An overwhelming 75 percent of all employees rank workplace flexibility as their top benefit, with paid and unpaid time off as the most important aspect of this benefit.
  4. The great news is that transforming your business into one that offers the benefits good employees are looking for may also lead to higher employee morale, lower employee turnover, and some tax savings.

Steven Bankler, CPA, Ltd. strongly encourages a balanced work-life. Our staff normally works a regular 40 hour work week all year long, tax season included. While this does require extensions to be filed, our workload stays more balanced throughout the year and allows valuable benefits: (a) our staff is able to enjoy a family life, (b) our clients reap the benefits of having their work performed under less stressful conditions, and (c) it reduces staff turnover so clients are dealing with a stable company and not continually training staff.

To explore how keeping employees happy can also lower your tax liability, contact us.

Image Copyright: fotoinfot / 123RF Stock Photo


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