Your Employees Can Be Your Greatest Asset – It all Depends on How you Treat Them! Unhappy employees cost companies billions of dollars each year in lost revenues, settlements and other damages. According to research conducted by Gallup, disengaged employees cost companies $450-to-$550 billion in lost productivity each year as a result of poor performance and high absenteeism.
In my early career, I worked for a company that valued micromanagement. I saw some of the most loyal employees become so disengaged, that their sole motivation was their paycheck until they finally left. I felt stifled thus, I didn’t stay there for long.
Micromanagement is a complete waste of time! It sucks the life out of employees, fosters anxiety and creates a high-stress work environment.
Research shows when your employees are connected and engaged, business booms. There is an economic link between employee satisfaction and company financial performance. A happy workplace culture does translate into better stock returns. Happy Employees = Happy Customers = Happy Shareholders.
Your front-line employees know your customers best; they interact with them daily. They have the answers on how to improve customer service and your products. They use your internal tools and systems every day. They have the solutions on how to improve systems which can save money by driving efficiencies. When you empower employees, you promote vested interest in the company. This allows creativity and innovation in the workplace which is necessary to succeed in today’s volatile marketplace.
Employees are the backbone of any organization. In order to remain strong in an industry, employees have to be kept happy. Employees want challenging work, autonomy, recognition, respect, support, opportunities for growth and advancement and most importantly to be treated as human beings. Is this too much to ask?
How you Treat your Employees will Determine the Fate of your company.
Your employees are your most valuable asset – Don’t take them for granted or treat them poorly. They are your best brand ambassadors. Employees who have been pushed to the point where they no longer care, will not go the extra mile. They will not take the initiative to solve problems. They will end up treating customers the same way you treat them.
Instead of just focusing on the bottom-line; Why not invest in the people responsible for the bottom-line? At the University of Pennsylvania, researchers discovered that businesses that spent 10% of their revenue on capital improvements saw a 3.9% productivity increase. But get this—when that same 10% was invested in employees, productivity went up 8.5%.
Employees are the heart beat of the company. And if the heart stops beating…What will happen?