The days of wanting employees who will come to work, quietly do their tasks and go home are in the past. Business owners have begun to recognize that employee engagement is a key function of business success and its effects are felt throughout all areas of an organization.
So why is having engaged, happy employees so important? Here are some compelling reasons for you to start prioritizing your people.
Long-term Retention
Not only is hiring an arduous, expensive process but keeping people for a long time has numerous perks. They become familiar both with their job and the company as a whole. With time, employees become more efficient at their tasks and can take on more work. They build a rapport with their co-workers and become better collaborators.
Building a retention strategy starts before you hire someone. Start by offering competitive salaries, benefit programs, and perks like flexible scheduling. Know what causes employees to leave: a poor work environment, lack of benefits, no job security, and a lack of mobility. For employees to be willing to stay with your organization, they need to feel valued as employees and as humans. The cost of turnover can cost half of an employee’s annual salary, depending on the position left behind and the time it takes to find a replacement.
Productivity
Engaged employees are up to 21% more productive than those who do not feel engaged. This is largely because they feel good about going to work and know that by performing well, they will be helping themselves. This means that more work is getting done throughout the day, which ultimately improves the company’s bottom line.
Flexibility is a large part of encouraging productivity in the workplace, especially in a world where remote working has become so accessible. Show your employees that you view them as a whole person, rather than a worker. Give your employees with children the opportunity to work from home when their child is ill. Give your employee who is training for a weightlifting competition an extra half hour at lunch which they can make up at the end of the day. Be open to helping people do their jobs and lives well.
Building a Company Culture
Every workplace is a unique community that has a common goal: the success of the business. Engaged employees contribute to a strong company culture, and a strong company culture can improve engagement. This creates a positive cycle that will assist with retention and productivity.
To create a strong company culture, you must be willing to empower employees to own their work and be recognized for their efforts. Develop leaders rather than assigning managers, and foster trust and respect between employees at all levels and the business itself.
How to Give Employees What They Need
How can you start to give employees what they want and need to be more engaged? Ask them! Start having open discussions about what they like and dislike about the workplace, how they could feel more valued as an employee, and what changes could be made to improve the overall company culture.
Consider asking these questions via an anonymous survey, so participants feel comfortable sharing their negative feelings. When in doubt, bring in a consultant to help create an employee engagement strategy and start making changes to create a better workplace for all. Start investing in training and continued education to help employees grow and thrive while working with human resources to craft policies surrounding flexible work schedules and employee appreciation initiatives.
A company’s most valuable asset is its people. If an organization can dedicate time and funds to maintain other assets, like equipment and capital, then it can (and should) invest in its human capital as well. Successful businesses stem from employees who know that their combined daily efforts are what keep the organization moving forward.
