Richard Branson once said that customers aren’t a company’s most valuable asset, employees are, and if you take care of your employees, they will take care of your customers. He was completely correct.
How valued your employees feel and how happy they are in the workplace will directly affect a company’s performance. A study by Warwick University found that happy people are 12% more productive. In terms of business, happy workers are 18% more productive.
And, generally, engaged and happy employees understand and promote company goals and genuinely want a company their succeed. So, how do you ensure you have happy, engaged, and motivated employees that work for your brand? Let’s explore.
It’s as simple as knowing your employees. A study by the Harvard Business School concluded that 58% of people trust strangers more than their management. Only 60% of employees believe they have an excellent manager, one that understands their needs.
Multiple organizational issues contribute to this, from the hierarchy and power complex to managers playing favorites – something 34% of employees feels like their managers do. However, 94% think communication is one of the most important factors in a good working relationship, and effective communication will allow you to understand your employees better.
One solution? Hold weekly meetings with your employees, or fortnightly, to catch up. These meetings create a space for open communication and a chance to build rapport. 37.9% of employees meet with their manager weekly and find it beneficial.
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It’s well known that employee recognition programs are an excellent incentive. Working alongside a customer loyalty agency to create a high-rewards-based incentive program fuels motivation, inspires productivity, and boosts overall morale. It’s a no-brainer that if an employee knows there’s a cash reward at the end of the month for excellent performance results, they will perform better.
They will also be 59% more innovative, 30% less absent, and 12% more likely to advocate for the business – according to incentivesmart.com, an employee engagement agency with a successful rewards program. Working with employee engagement companies will allow you to create a personalized rewards program that makes sense to your brand.
Alongside this, you can simply verbally praise employees. A thank you goes a long way, especially for employees experiencing elevated stress levels because of a relentless workload.
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A 2017 study found that 81% of employees are looking for a new job, and 23% wouldn’t need a pay rise to warrant a move. Currently, only 29% of employees are happy with their career advancement opportunities. It’s rare to find employees that will stay at the bottom. Most employees just want to progress to higher roles with more responsibility.
And, as the statistics state, 23% wouldn’t even need a pay rise. You could create job roles without an increase in salary and use the experience as the lure. Most people are content with putting a management role on their CV for a future job prospect.
Create a managerial role that doesn’t increase the workload of your employee too much. It’s unrealistic to expect anyone to do more for the same amount of money.
Where budget allows, consider creating a structured progression route through your company ranks, with in-house training, structured pay increases, and ongoing support. That’s a surefire way to keep employees.
Once a business reaches a certain size and employees jump on board, there’s no going back. Employees become an integral part of the business, which wouldn’t be able to function without them. Take the time to invest in your employees if you want to form long-term working relationships.
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