Your employees are your company’s engine—put simply, without them, your business goes nowhere. The more synced your team members are with company goals and objectives, the more prosperous your business will be. However, the problem that haunts many business owners and managers across the U.S. is how to get the best out of employees.

Every person who works for your company is an investment, and anyone not living up to the expectations of their role is a blown investment. Furthermore, every fire means a new hire, which means more time and resources devoted to training. So, how do you motivate your employees to live up to their potential? Continue reading to get some tips that will help you boost company morale and productivity.

Offer retirement packages or company stock options.

Employees who see themselves sticking around for a while are more likely to go above and beyond their job description to make themselves invaluable to the company. Offering retirement plans and company stock options is a great way to get your employees to see themselves working for your company until retirement.

401(k) benefit plans are one of the main things people look for before accepting a full-time position, so if you want to make your company the kind of place where employees stay for decades, you should implement retirement benefit or contribution plans. Small businesses often can’t afford to offer their employees retirement plans, but employee stock ownership plans (ESOPs) are company stock plans used by small businesses and large corporations alike.

Some companies offer their employees a company stock option after two or three years of service, which is an ESOP defined, and distribution of shares is through allocation or investing, with the former being the simplest and most popular option. One reason ESOP companies tend to perform well is that the employees are also stakeholders who profit from the company. ESOPs are the best way to tie your company goals with employee interests.

Offer your employees better pay.

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As a business owner, you understand the axiom, “You get what you pay for.” That phrase applies equally to the people you hire to work for your company as it applies to gas station cellphones and chargers made by smartphone companies.

You can apply the same principle to your employees. The better you pay your staff, the better they’ll perform their duties. If you don’t equate your employees’ cash flow with their productivity, you might need a different perspective because there’s a definite correlation between pay and performance.

Startups and small businesses suffer high turnover rates, mainly because their employees can find similar work making more money elsewhere. If you’re truly serious about boosting employee performance and getting everyone to buy into company goals, you can start by making money one less thing for your employees to worry about while they’re on the clock.

Do your research to see what other small businesses in your area are paying employees for similar work, and use that as a guideline to ensure you’re paying competitive wages. As counterintuitive as it may seem, having a higher payroll could actually help to increase your bottom line.

Use an OKR tool to boost employee performance.

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The only way for startups and small businesses to grow is to have well-defined goals and to get their employees on board with those goals. Objectives and key results (OKR) software is a tool that helps companies to identify areas of their operations that need improvement and implement strategies to do so.

You can even use OKR platforms to get insights into the performance of individual employees that can be used for performance reviews and individual training purposes. Furthermore, startups and small businesses can also use OKR software to schedule marketing campaigns and measure their success with analytics-driven metrics.

By giving your employees a reason to stick around for the long haul, offering them competitive pay, and using an OKR platform for accountability, you improve employee performance and your company’s bottom line. After all, you get what you pay for, so you should invest in the people who make your business work.