Why Happy Employees Mean a Crazy Happy Business
There's nothing worse than working for a business that doesn't care or focuses on profits more than employee happiness. Did you know that companies with happy employees outperform the competition by a whopping 20%? They are also 12% more productive. Keeping your employees happy doesn't just benefit the workers, it rewards the employer too; it's a win win situation. In this article we're looking at the physical benefits to business, affects on morale and why you should give a little something back to those who work hard for you. Let's start with the hard facts shall we?
High Morale = High Profits
It's true, happy salespeople produce 37% greater sales and 36% of workers would happily give up £4,000 per annum to be in a happier work environment. That means you can offer slightly lower salaries and get over 33% more in profits! It seems crazy, but many an employee would give up a lot of time and money if they felt like they were being taken care of and cared for. It doesn't take much, even just offering free food every now and then can make a difference. Did you know that 67% of full time employees with access to free food describe themselves as "very" or "extremely" happy with their job? This can be anything from offering free biscuits and cakes to paying for meals out every so often. Food outings also double up as a team building exercise, simply having close work friendships can improve employee satisfaction by 50%. Even better than that, people with a best friend at work are 7 times more likely to fully engage in the work they're doing. So you should always consider friends of employees for new roles, they could earn you a pretty penny indirectly.
Image credit: Ken Teegardin via Flickr
Treat Others How You Wish To Be Treated
Needless to say, if you treat your employees with respect they will respect you back. Always treat your workers how you wish to be treated and try to make sure that you have a close and open relationship with them. Being open about all aspects of the business, including profits, shows your workers your trust in them and it motivates them to do better for you. You're going to try harder for someone you like rather than someone you hate, right? If there are ever any issues within the office, personal or professional, always treat the situation as a human first and an employer after. For example, if someone has to leave their desk immediately because a loved one has been rushed to hospital, react firstly with compassion and react as an employer later once the situation has settled. You cannot turn around and say things like "you're going to have to make this time up" or "make sure you're back after lunch"; it makes you look like a robot and not only will that specific employee not appreciate it, others will also judge you. Simply let them go, give them compassionate leave and figure out the business end once they're ready to return to work (not when you want them back).
Image credit: Thomas Haynie via Flickr
Long Terms Employees With Dedication
Treating your employees with respect also earns you long term employees, loyal followers who would rather work for you than any other business. Having long term employees is a fantastic way to know you're doing a good job, if people wanted to leave all the time the chances are it has something to do with you. It also means you don't have to spend any time looking for replacements and can offer share based incentives, if anything you'll be looking to expand your business and add in extra employees! Their dedication to you means that they're more likely to go out of their way for you every now and then without it affecting how they feel about you as an employer. For example, they'll be more willing to put in extra hours or work extra hard when something pressing needs doing. If you make them happy they will make you very happy, just make sure to boost morale if it falls for any reason.
Image credit: Highways England via Flickr
Give Something Back Every So Often
One thing you should do is give something back to your hard workers, not just the occasional biscuit. Make sure to give them something more, like a Perkbox subscription or team days out doing fun things like watching a movie or going bowling. Giving them a little extra will be appreciated and will only cement their love for you and the company. Nothing makes an employee more happy than a secure job, especially one that treats them like royalty. It's unfortunately very rare for employers to give back in this manner, so for many it is still quite a surprise when they get something they weren't expecting, like opening a present it's exciting and would put a smile on anyones face. Be sure to treat everyone the same, even new employees, as you do not want to create your own weird class system. After an employee has worked for 1 year you should consider giving shares of the company as an incentive to stay and do well within the company. It's a great way to avoid having to hike their salary, but gives them something more personal as a reward. Again, a win win!