Should you run your own business, the welfare of your employees should be your priority anyway. What kind of a boss would you be if you didn’t care about their happiness levels? Not a very nice one, we are guessing. On both a moral and an ethical level, you need to treat your employees well.
However, ensuring your employee happiness will also bring about a boost to your company’s profits. How? Well, consider the following.
#1: They will stick around for longer
The employee turnover rate is high in some businesses. Many people leave within six months of joining a company, and this is often because of an unorganized and poorly handled onboarding process. Others leave because they don’t feel valued. And some employees leave because little is being done in the way of support for any problems they might be having.
Should you lose an employee, you will have to suffer the expense of the hiring process again. This will obviously dent your profit margin. You also run the risk of losing your best employees, and this could affect your company profits.
By ensuring your employee happiness, however, you won’t have to suffer losses associated with employee turnover. To care for them, you should:
- Read this article on how to choose the best onboarding software. By choosing something fit for purpose, your new employees won’t regret joining you during the initial few months.
- Treat your employees like human beings and not mindless worker drones.
- Pay attention to any problems they are having and support them accordingly.
#2: Your employees will be more productive
Low morale is the reason why many employees become unproductive. They might turn up to work late, leave work early, and work less efficiently within the working day. These behaviours are often born through resentment for their employer, but they are also caused by the stressed-out state that can interfere with their daily performance.
When an employee is unproductive, your business will suffer as a consequence. If work isn’t being done, you won’t meet your targets, your customers and clients won’t be happy, and your bottom line will be affected. On the other hand, the happier they are, the more productive they will become. You will then be happier because of the profits they are making for you.
To ensure your employees are productive, you should:
- Find ways to improve their morale in the workplace.
- Give them more break times to ensure tiredness doesn’t set in.
- Support them in their work, so they are able to carry out their jobs efficiently.
#3: The reputation of your business will be positively affected
With a poor reputation, fewer customers will head to your business, the best candidates will look elsewhere for work, and your business won’t have the opportunity to grow. As a result of all of these factors, your business could fail.
And what could cause a poor reputation? Your employees!
- They might contribute to business review sites after leaving your company and criticize your business.
- Their poor performance could cause your customers to use those very same review sites.
- They might complain about your business to their friends and family face-to-face or on social media, and word might then get around about your company.
To secure your business reputation, treat your employees well, as the only word-of-mouth about you that follows should be a positive one! Your profits will surely rise as a reflection of this.
Today then, consider your employees. Are they happy? To ensure your business succeeds, you might want to check in with them to find out more and take the necessary next steps if they are unhappy in any way. Your business will profit if you do.
Thanks for reading.
