What is your company's most valuable asset?
While all of these are valuable, you have something far more significant.
Your company's most valuable asset is the minds and hearts of your employees. Each one of them is unique and irreplaceable. It makes good business sense to ensure you keep your assets and derive the maximum value from them. This is accomplished by empowering your employees and keeping them happy.
Yes, I said, happy! Why is happiness such a big deal?
Happy engaged employees are an essential component for a successful business. Based on research done by Delivering Happiness and programmed into their ROI Calculator, happy employees sell 37% more than their unhappy co-workers. Engaged employees have 59% less employee turnover and a potential 21% increase in productivity.
A 2004 article by the American Psychological Association reports that "workplace stress is estimated to cost U.S. industry $300 billion a year in absenteeism, turnover, diminished productivity and medical, legal and insurance fees." There is a direct correlation between employee well-being and happiness and your business's bottom line.
To do so, you will need to change and create new company policies. Your specific changes will be based on the dynamics of your organization. The policies you put into place should implement the following principles.
As management, you do not always need to fulfill your employees' expectations, but you must manage them. Ask your employees regularly if there is anything at work making them unhappy. Sit down and talk with each person regularly. Encourage them to talk about work. Ask, "If you were the CEO, how would you do things?" Discuss what they bring up and work to resolve any discontent. The result of this activity will be happier, more engaged employees.
The concept of unfilled expectations works both ways. You, as management, also have expectations. Discuss your expectations with your employees. Be open and accepting of push-back. Explain the why behind your expectations and encourage discussion. You and your employees will be much happier with the results.
At the start of this article, I mentioned that the specific policies you implement will be as unique as your company's. When deciding what those policies will be, put yourself in the position of the people affected by the policy, and ask yourself, "Am I happy with this?" If a company policy makes someone unhappy, that policy will have a cost. Strive to make everyone happy because that becomes money in the bank.
Paul Levin is an author, speaker, and emotional breakthrough mentor. He is a Certified Hypnotist, and Certified NLP Practitioner specializing in Belief Systems. Paul helps bring happiness and empowerment to business. He also teaches individuals how to manifest the life they want. Paul is the author of the book: “Your Life Sucks No More, The Ultimate Guide to Manifesting Your Perfect Life” To learn more about Paul Levin and I Deserve A Perfect Life visit No More Fear Now, I Deserve a Perfect Life, LinkedIn, Facebook