A thought becomes an idea. That idea turns into a dream. That dream then becomes the fuel to take action. This is how every business has ever started. It doesn’t matter if you have a multi billion dollar international company or a small mom and pop shop. Essentially a successful business either improves the lives of its customers or solves a problem. That’s it!
What about the people who serve your customers? I’m talking about the people who represent your brand and the success of your company. Most people don’t begin a business with the future employees in mind. But now that your dream has been realized, how do you better serve the people who serve your customers?
Why is it that we all know the more you invest in the growth of your team the faster your company grows, yet few companies take the time or the resources to reinvest in their people? Inevitably there will come a point when a lack of employee investment will eventually undermine the company’s future goals and success. This is as true as the sun rising in the east. This is especially true because now potential employees are deciding where to work based on two important values... 1. Feeling valued and respected. 2. Work-life balance.
For many companies it is simply a lack of understanding of what to do and/or what works. For many companies this issue is a financial one. They want to know what is the ROI for an employee engagement program. For others, it is about timing. When do we start and where?
If you were to do a search on the benefits of employee engagement programs you will find over 250 articles that validate the importance and value they bring. Lets look at the benefits for the employees and their companies.
What are some of the benefits employees experience? Employees feel a deeper sense of purpose and commitment to their job. It helps them reconnect to their passion. It increases a sense of loyalty. Employees are willing to work harder when they feel valued. When employees learn a new skill that helps them create more work-life balance they are happier and less stressed at home and at work. This results in a significant decrease in lost workdays; therefore the associated healthcare costs are also reduced greatly. Employees inevitably save money and also experience an improved quality of life. The list goes on…
What about the benefit to the company? Well, if you care at all about your people the above-mentioned employee benefits should be more than enough. However, lets look at this purely from the bottom line. When your employees’ stress levels decrease significantly, the cost savings are tremendous. According to a Rand Report, for every $1 spent on employee wellness and engagement programs results in $3 of cost savings. Who doesn’t want that? How about increased retention rates? People who feel valued simply stay longer, up to 45% longer. A recent Gallup study revealed a 20% increase in employee production. What’s that worth? How about a happier more engaged workforce that is committed and loves what they do, isn’t that worth the investment?
The facts are inarguable. Investing in your employees pays off in so many ways that it is crazy not to consider doing so in 2018.
If your company is already committed to employee growth, congratulations you get it! What do you have planned for next year? Ask your employees what they would like to learn and how they want to grow. If you currently lack a plan to invest and engage your employees, I hope you now understand it is not a luxury, but a necessity. Make a plan. Identify where the need exists and take action today. The future success of your company is at stake.
At OolaCorporate Training our motto is…growing people grow businesses. Check us out at OolaCorporateTraining.com to see how we can help you improve employee engagement within your company.