You already know that your employees are one of the biggest keys to your success. The right employees can effectively sell and market your products or services, problem solve, and bring a wealth of new ideas to the table. No doubt you've worked hard to build a valuable team.
But do you know how to take care of that team effectively? Research has shown that more workers than ever are dissatisfied or unhappy with their jobs. Maybe you think that isn't your problem, but it can actually be very bad for your bottom line.
Employee satisfaction and happiness is key to your success. If each member of your team looks forward to coming into work each morning and contributing to the efforts of your business, there are no limits to what your company can accomplish. Don't start thinking it's all about money, though. A higher salary or occasional bonuses aren't going to keep your employees happy with their work. It takes much more. Above all else, employees want to feel like their work is valued.
So how can you as a business owner do that? First of all, it's crucial to foster an environment of open, honest communication. Encourage your employees to share their ideas, their concerns, and their conflicts. Don't berate them if an idea isn't what you're looking for, or if an assignment doesn't go exactly according to plan. Allow them to get close and comfortable enough with you, and their co-workers, to talk about anything that might affect their work.
Giving employees ownership over their work will also go a long way toward keeping them happy. Let them feel like they are part of the team, that their work is important toward achieving the company's goals. Give them the chance to step outside their comfort zone, and to innovate and problem-solve in a way that works for them. Keep them informed about progress or new developments. Treat them like adults, and only step into the role of disciplinarian when it's needed.
When it does come to money and incentives, be fair. Don't lowball a salary just to help your bottom line. Offer rewards and awards for a job well done – things like an extra few days off around the holidays following an exceptional quarter can go a long way toward keeping your employees happy. Feel free to give perks, but remember that these are not a replacement for motivation and inspiration, but rather, a way to say thank you for their hard work.
Recruitment and talent management agency 24 Seven found that 90 percent of employees would leave their current jobs for somewhere where they felt more appreciated. Ultimately, your employees want compassion. They want to know that you've got their interests in mind. If you show that to them, you'll be able to hire good employees, get more customers, more leads, and make more money. Taking care of employees is absolutely vital to your success.
If you want to know more about achieving more success than you ever thought possible, contact CEO Warrior and we'll show you how to unlock the mystery of business.
Mike Agugliaro, “Business Warrior”
Founder of the $28 Million Dollar Fast Track Academy