Employees are the assets of the company and they also needs to see the same. At times it is so important to let your employees see, that you acknowledge them. Happy employees give better performance which ultimately lead to the benefit of the company.

Lots of MNC’s make sure that they are engaging their employees in some kind of activity on regular basis in order to keep them happy and stress free. Companies can double their rewards and recognition efforts in advanced, cost-efficient ways.

Some of the cost effective ways for employee benefits programs are:

1.Employee recognition: a recent survey has shown that candidates wants more than just a Paycheck, they want their company to appreciate them and give recognition to them. Most of the employee perform better after they get appreciation from their managers and focus more on delivering better results.

2. Tailor made appreciation: motivation is a very big term, it means different to different people. Hence, it is very important to understand what motivates your employees. It could be the cash bonus, paid vacation, employee of the month award etc. Once you are able to address different needs of your employees, you will be able to motivate them accordingly.

3. Talk to them: communication can be a very effective tool when it comes to employees. When a company talks with their employee, they are able to take their feedback, their response. Employees feel valued and heard.

4. Good employee benefit program: at the end of the day everybody works to earn money, same goes true for your employees as well. Except a Paycheck, an employee consider lots of other benefits such as paid meal vouchers, insurance etc. It is important for the company to match the benefits as per the industry standard in order to retain people for the long time.

5. Create a platform: recognition means so much more when it’s done in front of people. Yes, it is true. Your employees would love to get recognized in front of their co-workers and their family, it will mean so much more to them. Make sure that every quarter you are organizing a party where you are creating a platform to recognize people and appreciate them.

6. Don’t let IRS interfere with your employee recognition: nothing worse than appreciating an employee and then push him to pay the taxes on the same benefits. It can be quite frustrating for an employee. Make sure that whenever you are planning something for an employee it should not put dent on his payroll in terms of extra taxes.

It has been observed that in most of the cases that at times, company representative just needs to communicate properly with their employees. Employees just want to feel heard. A recent survey conducted by a well-known US organization says the support the same fact.

At last we can say that if a company takes care of all the above said points, they sure will be able to work better towards employee retention and grow their company at a desired rate.

Author's Bio: 

Author of this article is an expert writer. He understands that happy employees, payroll processing and employee retention are part of same thread. He always talks about the importance of employee motivation in human resource management.