5 Strategies to Give Your Employees a Bit More Stake in Your Business

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Pop quiz: how loyal is your current batch of employees?

If you don’t have any idea or feel that there isn’t much of a personal connection between your company and its workers, you might have a problem.

Not only does a lack of loyalty lead to higher turnover, but also the fact that without working toward a common goal together, productivity tends to lag.

On the flip side, showing your commitment turn your employees can, in turn, cause a surge in commitment to your company goals.

The good news? Giving your employees that much-needed stake in your business is probably a lot easier than you might think. Whether you want to create a stronger connection between you and your workers or just want to show your appreciation, keep the following pointers in mind for starters.

Rethink Their Responsibilities

The first step to creating a more loyal workforce is the simple act of giving them more to do.

This might seem a bit backward, but a more active role in day-to-day activities can be a total changer. Such responsibilities could include running meetings, access to new company accounts (think: marketing or analytics) or even something as simple as planning company parties.

As a side note, be sure to follow user access review best practices for the sake of security as you allocate access to accounts. Although you certainly want to give your employees the reigns from time to time, don’t do so at the expense of your business ‘most important information.

Institute a Profit Sharing Plan

There’s obviously more to work than just money, but there’s also no denying how financial incentives can light a fire under your team. For example, coming up with a profit-sharing plan is incredibly popular in the start-up space to both attract and retain top talent. Even small bonuses and incentives here and there are better than nothing.

Incorporate Employees into Your Marketing

In a day and age where brand advocacy and authenticity are such a big deal, using your employees as part of your marketing campaigns is a no-brainer. Whether it’s bios on your business’ site or office-wide selfies on Instagram, your own team is a great resource for filling your social calendar while creating a sense of company pride.

Step Up Your Benefits and Perks

Among the most-desired employee benefits are flextime and the opportunity to work remotely.

People will jump at the change to work at a company that offers such perks, so consider how you can incorporate more flexible schedules into your company culture. While it may take some fine-tuning to implement, just make sure that nobody is abusing the policy and your team is actually getting down to business.

Frequently Collect Feedback

If you want to figure out how to encourage your employees to become more loyal, sometimes it’s best to just ask.

Frequent questions regard their roles and simply how they’re doing are critical in a work environment where voices often go unheard. Whether it’s pulse surveys or frequent anonymous survey, try to turn your employee feedback into action whenever possible. Such feedback can be totally eye-opening if you’ve never collected it before.

The key to giving workers more stake in your business is a combination of handing over responsibility and picking their brains a bit. Sticking to these strategies can create a sense of loyalty sooner rather than later.

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