5 Incentives for staff retention that won’t break the bank

Woman relaxing with peace at work

With the unemployment rate so low in Australia, it is so fundamental to maintain and attract staff.  What is hard as a small business is being able to pay over market value to retain and attract staff.  As such, we have compiled 5 things we feel you should consider offering to your staff instead of money if possible.

  • Offer flexible working arrangements – like the ability to work from home.  It might not always be possible, but starting early and leaving early could be the difference between being a happy staff member or not.
  • Provide a training plan that helps the staff members increase knowledge and, as such, increase capacity.  It’s a life – long learning thing, and it’s something that motivates some staff members and keeps them engaged with you and the business.
  • Provide thanks/praise when a milestone is reached or a good job is done.  No cost in this just has to be genuine and sincere.
  • You could offer a rostered day off for a birthday or other special event at the staff members discretion.  
  • Social gatherings (and it is not always about getting drunk).  A work lunch where you all just spend some social time can do the trick on this or even just a quick coffee break to de-stress can be the thing that engages staff and keeps motivation high. 

Ultimately, it is just as much about how your staff members feel then what they get paid that keeps them happily employed.

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