It is no secret that successful companies both know and value their staff a great deal. They are very aware that their employees can be essential factors in the success of an organization and they can work towards giving them good pay, satisfying benefits, and generating positive work environments.
Several industry experts have found that if the people in your organization are treated well, the company will taste success 70% of the time. This is why the famous phrase “Happy employees equals greater productivity” makes sense.
Still wondering why? Let us run you through a few compelling reasons.
Why Employees Are the Best Assets of Your Company
Here are five reasons that explain the prominence of your people.
They are Your Biggest Resource
The people in your company are your biggest resource and they can impact the public perception of your brand majorly. For instance, a frequent traveler recently wrote on his social media that he chooses a specific airline to fly with because of the happy employees.
Such organizations perceive great value in their employees and they often function efficiently which garners profitability. Great companies must offer financial health and wellness benefits, community support, employee engagement, training programs, and personal development opportunities.
According to industry experts, companies are looking for ways to engage, grow, and encourage employee development more than anything. Let us say a company appreciates its employees. They are massively inspired and start bringing in more productivity.
Employees are Your Brand Ambassadors
Your team is basically the face of your company. Suppose if your employee retention is low and their tenure is short, client acquisition can become massively challenging. Because let us face it, who will want to work with an organization where the employees are not happy? After all, it is them who have to put in the effort.
Recruitment and Rehiring Have Become Expensive
It is not a cost-effective thing to replace employees regularly. Most of the time, it involves investing in job sites, hiring agents, etc., to find staff. Based on numerous surveys, one recruitment can cost a company up to more than 5000 USD.
And each time you replace an employee, the new one must be trained which means the productivity will be affected till he or she is perfectly ready to take over the process. This is why it is important to make the existing employees feel valued and retain them.
Several industrialists believe that employee turnover could be costly when it comes to valuable resources. However, it can also affect the morale of both current employees and clients. Clients could begin questioning the quality of the workplace environment along with the prospects for the longevity of employment.
For instance, if clients begin seeing new faces too often, they lose the personal connection with the team and start wondering why retention has become a problem in the company. All these things can have a significant effect on daily operations.
It has been indicated throughout this piece that happy employees can increase profitability in an organization. Again, this can be achieved by providing a satisfying payment package, personal benefits, sufficient leaves, etc.
It is also evident that individuals prefer going to companies that are providing such benefits and believe in prioritizing their people.
People First Approach at 91Social
While it is clear how much employees matter to an organization, it is important for prospective employees that they choose to go to companies that value people. One of the many ways to do this is to look into the retention rate of the organization.
Another effective way to make this decision is to check our employee reviews on websites like Google and Glassdoor. Such factors can give a good reflection on how an individual must go about it. At 91Social, we are a people’s first organization and we always make it a point to ensure our employees come before everything else. They are the reason we are standing and they are the reason we get the business we do. Thus, we aim to do everything in our power to make it a good working environment for them.