In our last blog, we discussed the importance of investing in your staff. Highlighting the importance of teamwork, open communication and utilizing the unique strengths of your team members, our last blog stressed how vital the happiness of your employees is to your business. In today’s blog, we’d like to explore that topic further. Let’s be clear: the happier you make the people who work for you, the harder for you they will work!
“Compared to employees who are motivated, disengaged workers are less efficient, miss more workdays and cost their employers thousands of dollars in lost productivity,” explains go2HR.com, “Keeping employee morale high is one of the best things you can do to instil loyalty and maintain a productive workplace.”
Here are three reasons to invest in employee morale:
1. It leads to less sick days.
If you’re an employer, you’re undoubtedly aware that the majority of sick days taken by workers are not because they’re literally ill – they’re just sick of their jobs! When you invest in the happiness of your employees, you make them want to come into work for you. This leads to fewer absences from work which, of course, saves you a lot of money in the long run.
“Paid sick-leave days cost employers $160 billion annually, but decreasing stress and health risks saves employers money,” explains William Craig on Forbes.com, “Meanwhile, extending paid sick leave to contract workers decreases their stress levels because they know they have access to financial security.”
2. It gives workers greater pride in their jobs.
You don’t just want people filling the seats of your office. You want dedicated employees. People who actually enjoy working won’t just work towards getting pay cheques. They will strive to positively represent the brand in everything they do. If you want brand ambassadors, you need people who are proud of the fact they are part of your staff. To accomplish this, says go2HR.com, you must communicate effectively.
“Tell employees your objectives for the company and promptly share news that affects the organization,” advises the website, “Let staff know clearly what your expectations are, and explain the reasoning behind certain rules or rule changes. Ask workers directly what motivates them, and get their feedback on how to handle staff issues.”
3. It helps to avoid employee turnover.
One of the most costly requirements of any business owner is the hiring and training of new employees. Naturally, the more employees you need to hire, the higher the costs are to grow your staff. When you invest in employee morale, you prevent your employees from quitting. The lower your turnover, the less you have to pay to recruit and hire new workers.
“Burned out employees are more likely to quit,” says Craig, “Add in recruitment costs and your business costs skyrocket over what it’d cost to retain that employee and improve their work situation. One study revealed that one out of four workers who felt they had no support structure for adequate work-life balance made plans to quit in the following two years, in comparison to 17 percent who felt they had support.”
If you’re in need of funding to invest in employee morale, look no further than the unique merchant cash advance program offered by Synergy Merchants. To learn more, call us at 1-877-718-2026 or email us at email@example.com. You can also apply online for a free, no obligation quote!