Living wage – LBH Business Services

Know When to Implement One-Time Bonuses or Perks

January 27, 2023 by Ian Hopfe

After resolving most of your other employee issues one-time bonuses or perks can be positive because everyone truly has a reason to celebrate. One-time bonuses and perks should be implemented after you have addressed all the other basic needs, after you have addressed all the psychological needs, after addressing other self-fulfillment needs, and after you have multiple positive employee engagement surveys completed in a row, so you know they’re happy.

Why Should You Pay a Living Wage to Your Employees?

January 18, 2023September 15, 2022 by Ian Hopfe

You should pay a living wage because it helps your employees concentrate on work, it improves employee loyalty, and improves your organization’s image. All these lead to happy employees, happy clients, and more sales! Read below to get all the details.

Hierarchy of Employee Needs

January 27, 2023June 16, 2022 by Ian Hopfe

A good way to help your organization grow and to create loyal employees is by applying Maslow’s Hierarchy of Needs to your employee’s needs.

You need to address basic needs like paying a living wage for your area, paying higher than industry-standard wages, and automatically increasing wages with the cost of living each year.

You need to address psychological needs by having good benefits, a good work environment, merit pay increases, and regular recognition of good work.

You need to address self-fulfillment needs by offering internal promotions for career advancement, regular training, and least importantly one-time bonuses or perks.