To save costs on employee turnover, leaders need to invest in employee satisfaction.
In a study performed by the Queens School of Business and the Gallup Organization, researchers found disengaged staff at a 37% rate of being absent from work. They were 49% more likely to have accidents and have 60% more errors and defects (Harvard Business Review, 2015). Employees who do not feel valued tend to complain about the workload, making them less productive and loyal to the business brand. When employees are happier at work, they work harder and are generally more effective.
For those that are guessing, increasing work productivity is excellent for business. 6Q (2021) says that increasing employee satisfaction leads to:
A happy work environment for all
An influx of creativity and innovation
So let's break this down.
Employee loyalty is comprised of dedication, motivation, and trust. When employees are loyal to their employer, they will follow the leader through high and low times.
Employees dedicated to their work take the initiative to lead new projects and take pride in completing their work accurately and efficiently. They require little motivation to perform their daily job responsibilities because they are aligned with the organization's mission and vision. Employee loyalty is perfect for business when there is staff and leadership turnover. If employees become stressed from the leader's decision-making, they are 50% more likely to quit. The Center for American Progress says that "replacing a single employee costs approximately 20% of that employee's salary" (Harvard Business Review, 2015). Employees are willing to work alongside new colleagues when they trust and genuinely like the leader's decision-making.
As you may know, happiness is contagious. When one employee is happy about their job, they spread joy to everyone in sight. Inc.com (2016) mentions that happy employees increase self-confidence and inspire more excellent work performance for both themselves and their employer. Happy employees advertise brand loyalty publicly and help recruit their friends and family to work for the organization.
Engaged and happy employees are full of creativity and innovation. When leaders trust their employees to think creatively and move forward toward project planning and implementation, excellent services and products are birthed. Good leaders are patient and reciprocate trust amongst their team. They understand that creative ideas foster a positive work environment and create excitement and fun for their employees.
When re-evaluating employee satisfaction within your organization, please listen well to your employees' needs. Be sure to enhance the workplace environment's wellbeing rather than solely offering wellness programs and health benefits (although necessary!). Your employees spend a good portion of their lives dedicated to helping the organization grow. Learn from them and continue to refuel your work by listening to their needs. When you take care of your employees, they will take care of you.
Having issues engaging your staff? Plan a staff retreat with Envision Greatness today. Click here to schedule a consultation.
Ainomugisha, G. (n.d.) 5 great reasons why happiness increases productivity. 6q.io. https://inside.6q.io/5-great-reasons-why-happiness-increases-productivity/
Cameron, K & Seppälä, E. (2015, December 1). Proof that positive work cultures are more productive. Harvardbusinessreview.com. https://hbr.org/2015/12/proof-that-positive-work-cultures-are-more-productive
Power, R. (2016, November 21). 10 reasons why it is important create a happy workplace. Inc.com. https://www.inc.com/rhett-power/10-reasons-why-it-is-important-create-a-happy-workplace.html