For a smaller business, extravagances can be hard to justify. However, happier staff doesn’t simply mean bonuses and pay rises.
What employees value is participation: do they get a fair say? Keeping staff updated on the business and inviting opinions keeps them motivated and loyal. Investing in them with internal and external training helps them do a better job and helps in retraining them, too. Would you rather invest less and have a poor performing, unmotivated team with a high attrition rate instead?