There are three main issues in any business: People, sales, and profit. “People” is the most critical issue where recruitment and retention are top priorities for many employers. Many may agree that employees are the greatest asset of the company.
Often, companies reward their employees with a comprehensive benefits package. These may include health care plans, retirement planning, wellness programs, paid time off, paid vacation and some even offer Volunteer Time Off (VTO) to their employees for taking up volunteer community service.
“If the person who works at your company is not appreciated, they are not going to do things with a smile,” said Richard Branson during an interview with Inc Magazine.
The appreciation and retention initiatives tend to get more creative and encouraging. When Delivery Hero, the German-based online food ordering giant acquired Yemeksepeti (the leading Turkish firm in online food ordering) for $589 million, its CEO shares his portion of $27 million with more than 100 of its employees, with average more than $200,00.00 per employee.
Adore Me, an online lingerie retailer based in New York surprised its out-going staff (Tracy) with a $10,000.00 check during the farewell party. Not only that, the CEO has extended an open invitation for Tracy to rehire her. “We would do it for anyone that has put in a lot of hard work and effort at Adore Me,” CEO Morgan Hermand-Waiche told bloomberg.
Some may argue on the advantages and disadvantages of the varies attempt by the companies to create positive company culture. However, the question worth to think off is: What are the creative and effective ways to appreciate employees, keep them happy and productive?