How about bigger sales per transaction? More repeat business? Fewer complaints? Less down time?
The answer to all of those desires…happy employees.
Workplace attitude, employee engagement, taking good care of your people, creating a positive and fun work atmosphere…call it what you want. But it’s not HR mumbo jumbo, it’s not new age hoopla and it’s not the employees angling for more perks.
It’s smart business and any manager or business owner who doesn’t truly understand and believe that – should listen up.
If you don’t instinctively understand the connection between employees who like their work, co-workers and managers and how that ties to happy and prosperous customers…check out these numbers.
- A recent study by Harvard Business School found that every 1% increase in staff loyalty resulted in a half percent increase in customer loyalty.
- Gallop’s 2006 research to better understand the linkage between employee satisfaction and return on investment (ROI) found that companies with higher levels of employee engagement enjoyed higher ROI.
- A recent survey conducted by Maritz found that 43% of customers who stopped doing business with a company made their decision based on poor customer service. Engaged employees are the key to excellent customer service. Engaged employees are employees that feel as though they are truly valued at work; that their efforts directly contribute towards the mission and success of the company.
- 48% of executives cited that better communication was the best remedy for low employee spirits, according to a new Accountemps report that surveyed 150 executives from the nation’s top 1,000 companies.
The bottom line is this – your employees make or break your bottom line.
It’s your job as a manager or owner to inspire them to help you create a workplace where everyone feels valued, appreciated, noticed and safe. Add in some fun and you have a place that no employee will want to leave.
So how do you do that?
Get it. I mean really get it. Take some time to reflect on all of this and allow yourself to see the value in happy employees. Put aside your pre-conceived notions or age-old biases and understand the new work place.
Invest in it. Both in terms of time and money. Spend some time getting to know your employees and what matters to them. Create a small fund and let them plan quarterly events (within company walls or an outing during the workday)
Learn more about it. Read books (see the list at the bottom of the post), read blogs, subscribe to newsletters. Or here’s a crazy idea – ask your employees. Be honest with them. Tell them this is something you’d like to get better at and you need their help.
Involve the employees. Help them help you. Get their ideas. Let them recognize each other. (check out how we do that at MMG) Have them work with you to create a whole new strategy for attracting and retaining good employees. Find out what matters to them and let them take the lead – but with your 110% support.
Still not convinced? Unless you can run the whole place by yourself – you actually need the employees more than they need you. Wouldn’t you rather invest in the ones you already have, rather than going through the pain of finding and training new ones?
Here are some resources worth your time.
Okay, brilliant readers — time for you to add to the discussion. What are the most effective ways you’ve experienced (from other side of the table) to engage, excite and motivate employees to deliver your brand promise and make the customers hungry for more?