Many things contribute to a business’s success, like healthy company culture, a comprehensive marketing strategy, and strong business relationships — but not enough credit is given to employees for a business’s success.
By JORI HAMILTON
However, you can frame the relationship between your employees and your business’s success in various ways. Let’s look at six of them in-depth below.
Happier Employees Means Smaller Staff Turnover and Lower Labor Costs
The labor market is different than it has been in the past. Current labor trends like labor shortages and increased staffing costs contribute to financial struggles in businesses worldwide.
In addition, businesses are seeing a higher turnover rate because they’re short-staffed and can’t meet the demands of potential employees. A high turnover rate can prevent your business from growing, and so can an inability to adapt to the changes in the labor market.
When you’re conscious of your employees’ perspectives and priorities, you can accommodate them and encourage a happier workforce. For instance, let’s say one of your employees’ priorities is maintaining a healthy work-life balance. In that case, you can ensure your employees don’t have to work overtime and focus solely on their job responsibilities by hiring sufficient staff.
Ultimately, you can save a lot of money and keep your employees at your company long-term when you learn what makes them happy and fulfilled at work.
Prioritizing Employee Well-being Results in Improved Productivity
There’s also a significant relationship between prioritizing employee well-being and overall productivity. For instance, when employees are overworked, underpaid, and burnt out, they tend to be disengaged, less motivated, and unproductive in their roles.
On the other hand, when an employer decides to make their employees’ well-being their business, it usually results in more holistically healthy employees putting their best foot forward at work. If your employees’ minds are clearer, they’re physically healthy, in good spirits, and emotionally intelligent, they’ll be able to do better work for you and move your business forward.
All in all, if you want your employees to be as productive as possible and, in turn, boost your business’s success, you must make it a point to take care of them.
Ignite Personal and Professional Growth in Your Employees
When your business is successful, you can offer more resources to your employees that drive their personal and professional growth.
Igniting personal and professional growth in your employees is a beautiful thing for your business’s longevity. In other words, your employees are more likely to stick around when you provide resources for them to grow their professional careers and achieve their personal goals. They’ll also respect you more as a business owner for actually caring about how their future looks.
Furthermore, when your employees possess advanced skillsets, they can make more profound contributions to your company and further its success. So, when you’re able, it’s a good idea to offer mentorship, upskilling, and educational opportunities that lead to professional advancement and encourage personal development.
You can also look at the relationship between your employees and your business’s success through a security lens.
Business Security Supports Employee Security
Your business’s security not only influences its overall success but also impacts how secure your employees feel. When your employees are insecure about their jobs because your business’s future is shaky, they’ll be more inclined to turn their attention to finding a new job rather than engaging in a role that’s looking like it’s about to end.
Secure your business’s place in the market so that your employees don’t have to worry about whether they’ll have a job tomorrow.
That means taking care of the behind-the-scenes work of your business, like protecting its intellectual property so that you can remain unique in your industry and others can’t profit off your ideas. Your employees will feel a lot better about the longevity of your business and their roles within it when they know you’re maintaining a strong, secure foundation.
Your employees are also responsible for carrying out your company’s vision.
Employees Carry Out Your Company’s Vision
It’s easy to carry out your company’s vision when you’re the only employee. However, when you bring additional employees on board, it can be challenging to get them to be as enthusiastic about your company’s vision as you are and understand and appreciate it as you do.
With that being said, when you recruit and hire employees that have the same values as your company and align with your business’s vision, they’re more likely to do all they can to help you see that vision through to fruition. This equates to authentic motivation that garners a workforce genuinely supportive of your company’s vision.
In conclusion, your employees carry out your company’s vision and make success possible.
The Right Leaders in Charge of the Right Things Equals Business Success
The relationship between your employees and your business success can also be looked at in terms of leadership. When you choose the right people to head particular projects and divisions in your business, your overall operations will run seamlessly.
Excellent leaders can also ensure your teams collaborate and communicate effectively, resolve conflict, and work through common team challenges without compromising productivity.
Furthermore, having the right leaders in charge of the right things allows you to focus on owner duties and avoid micromanaging employees.
Ultimately, you should make it a point to hire the right leaders for the right departments — and remember, just because you’re managing doesn’t mean you’re leading. Leaders are people (managers or otherwise) who inspire others to follow and have specific skillsets that make them a good match for taking particular business sectors to new heights.
However you look at it, your employees play a critical role in growing your business. Without them, your productivity suffers, business security is a long shot, and you’ll take the long road to establish your brand as one of the top in your industry.
So, be sure to prioritize establishing a workplace culture and employee relationships that encourage each person and your overall business to flourish simultaneously.