What’s the Value of an Employee to You?
Every small business owner understands the value of employees on some level. Day-to-day operations would fail without employees. As a small business grows, more employees are necessary to keep the doors open. And it does not take long for a business owner to recognize the boost that a good employee can provide to the bottom line. But does this understanding make a difference in how employees are treated? As this article explains, some companies have chosen to demonstrate just how much they value their employees by implementing specific policies. Can you learn anything from their example? Read on to find out.
Higher Wages. While there are many ways to show employees that they are valued, the most effective way is still probably to pay them more. As employees demonstrate proficiency in a job, it is commonplace for employers to reward their behavior with a raise. As described in this article, some employers like Trader Joe’s, Costco, and QuikTrip are taking this a step further. They are starting employees out at higher rates, even in entry-level positions. The thought here is that by valuing employees (and paying them more), they can get and keep employees who are motivated to work hard and deliver value back to their employers. It seems to be working for these companies.
More Training. Employers also make investments through training. While training is also a cost to employers, it can pay dividends to a business in the long run. The companies featured in this article have increased the amount of training that they are providing for their employees. They realize that well-trained employees are an enduring asset. This training helps to equip workers to succeed. Another aspect of this philosophy is to promote valuable employees to higher level positions. When employees know that their hard work will be rewarded with a move up, they are motivated to do their best.
Increased Input and Expectations. As these companies have invested more in their employees, they have also looked to get more in return. Because more is being spent on payroll, employees are expected to operate with greater efficiency to offset the cost. They are also encouraged to give input as processes are developed. Since the employee who does a specific task will understand that task, they are invited to share their thoughts on making the task more efficient and effective in the workplace. Workers who are valued in this way tend to take more ownership in their jobs, making them more diligent and conscientious.
As you seek to show your employees how valuable they are to you, don’t forget that administrating payroll effectively is also a tangible way to show their importance. If you would rather not worry about getting paychecks out on time, and know that taxes are accurately calculated, reported and paid, you might want to outsource this function to a reliable payroll company, like The Payroll Department . As experienced payroll processors, we will take this time-consuming task off your plate and give you the peace of mind of knowing that payroll is taken care of. Consistent, accurate payroll is a good place to start in treating your employees like the valuable assets they are.
-Jessica of The Payroll Department Blog Team
