The landscape has changed and you can no longer rely on employees sticking with you purely because you said so. Baby Boomers are retiring and by 2020 40% of the workforce will be made up of millennials, the next generation. Treating your employees right should be at the forefront of your mind because more than ever before employees care about different things.

So How are the Next Generation of Employees Different?

You'll Keep Them

The first big benefit of treating your employees right is that you'll be able to keep them. The business world has become more competitive than ever before. It's relatively easy to start a company and build yourself up. There's far more liberation than there was 50 years ago.

For employers, this is a bad thing because not only does it mean more competition but it means they'll find it harder to hold their best talent. Employees are well aware that if they don't completely identify with a company and its actions they can start looking elsewhere.

If you treat your employees right, you'll manage to stop them from going to other companies.

Get More from Them

The employees that do stay with you need to perform at their best. They certainly won't perform at their best simply because you told them to. To get the most out of them, you need to give them a reason to go the extra mile, and that comes with making them feel valued.

Think about your own family and friendship circles. You would do anything for the people you care about, and the same applies to your employers and employees.

According to Chris Clifton President of CoinAdvisor.com, "As a young business owner in my 30′s, I have found higher levels of success rooted by basic principles of taking care of my staff. Having been an employee at a company where your only as good as your last sale, I chose to take a different approach with my staff. We celebrate our achieved sales goals, and we support our staff with additional resources when things are moving slower than expected to build them up. When your employees are happy and feel truly "valued", their "value" will also increase to the business owner. When an employee is happy with their career situation, things tend to be better at home as well. It is a win-win and it all begins with doing the right thing. After all, my team is helping me achieve my dream. It's my duty to offer them the best possible working environment."

Some would argue that you even have an obligation to do your best by your employees. As Mr. Clifton said, they are helping you to achieve your dreams.

Lifting Your Company to Greater Heights

As a business owner, you are always thinking about how you can take your company to the next level. Lifting your company to greater heights requires you to have your team fully supporting you. You want them to come up with new ideas, work more efficiently, and create a better working environment.

When you provide all the resources necessary for making employees feel valued, you are going to get more from them. You will be surprised at how much talent your employees have backing them just by virtue of the fact that they want to see you succeed.

How Do You Treat Your Employees Right?

A good boss isn't necessarily someone who always gives you time off and allows you to slack. The best bosses are those who are firm yet fair. They are not overly concerned with rigidly sticking to the rules, while at the same time they still demand the highest standards.

Follow these tips to get the most from your employees:

It requires some sacrifice on your part. But valuing your employees will pay off in the end. How will you get the most from your team today?

Published on: Mar 14, 2016
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.