Entrepreneurs commonly hear the phrase “customers first,” but employees are just as crucial to a company’s success. Bloomberg estimates that 80% of new businesses fail in the first 18 months, with poor leadership skills listed among the issues that lead to failure. A dedicated and motivated team will improve your chances for success, and you can invest in your employees using the tips below:

Cultivate a Listening Culture

Your employees deal with different aspects of your business every day, and these experiences give them more insights than you have on the company’s operations. They can, therefore, give you ideas on how to improve the quality of services and design better products.

If employees are involved in decision-making, they will be more committed to departmental and company goals. This means that it is not adequate to only listen to your staff, but you should take action as well. You will motivate your team if they see that you can make adjustments based on their suggestions.

Celebrate Milestones

You can organize both personal and company milestones to motivate your team. Did you exceed a specific number of clients, or did the sales team break an all-time record? A celebratory event will recognize the efforts of your staff and motivate them to reach new milestones. You can include the local community and host a themed party, award show, or organize an outdoor party featuring team-building activities.

Do not forget personal milestones like birthdays, graduation, and wedding, as they make employees feel like they are part of a family. You can also recognize outstanding achievements with perks like trips and vouchers.

Customize Your Workplace

The modern marketplace is incredibly dynamic, and businesses need to continually re-invent their operations to survive. Take Facebook, for example, which is consistently ranked as one of the best companies to work for in the US. The company allows its employees to explore new projects and even switch departments within its structure. Do not be afraid to ignore irrelevant workplace traditions and implement creative practices to maintain a fulfilled and happy team. 

Engaged employees will significantly contribute to your firm’s success since they will feel appreciated and valued. Listening to their suggestions, investing in their training and development, celebrating milestones, and giving bonuses and incentives are some of the ways to invest in your team. Get in touch with Lionheart Commercial Group today for more tips on how to value your employees.