Employee productivity is among the top priorities for small businesses as it directly affects the success of the company. Several factors such as the work environment, benefits and interactions within the company directly affect the productivity of the staff. Small business owners can take some lessons from Fortune 500 companies. Here are few:
1. Working environment
If the employees are not satisfied with the working environment, it may become a cause of decline in productivity. Fortune 500’s put great emphasis on working conditions. For example, Google has a bowling alley, arcade, ping pong table and bocce courts for the employees. Most young professionals wanted to work for the search engine giant. Such perks can be used to enhance productivity.
Fortune 500 companies empower employees to be united and focus on a single goal, which is to come up with innovative products and services. Employees find their unique individualism while working at these companies, and are allowed to discuss innovative ideas. Small business owners can give more decision making freedom to employees and appreciate great work.
3. Other incentives besides pay
Apart from the monthly salary, Fortune 500 companies provide other incentives. For example, Boeing now offers message for its employees to reduce their stress and decrease the absentees. Creating a good company culture is vital for productivity. Therefore, small companies can consider offering non-pay related incentives to employees.
4. Reward programs
A reward program can boost generation of ideas and employee productivity. There are different reward programs used by Fortune 500 companies. Some examples include payment rewards on goal completion, advancement of top employees to higher positions and flexible working hours. For small businesses, recognition can be a great way to reward employees for their efforts.
5. An emotional appeal
The employees working at big corporations get an emotional appeal. They have fancy business cards to boast about, and they’re proud to state themselves as employees of the company on social media accounts. Employees enjoy a sense of professionalism and pride that’s attached with the name of the business. Owners of small companies can print appealing business cards for their employees.
By implementing these lessons wherever possible, small businesses have a greater chance of increasing the productivity of employees. A productive staff is going to result in higher revenues, and the business will be able to achieve its objectives before expected time. Productive employees also have the potential to attract new talent to the company.