Source: Employee Engagement Foundation
The Employee Effect
The key to a truly successful business is not the revenue it generates! It is the impact on the customers’ and employees’ lives. This impact shapes the world around us. In the grand scheme of things, the money earned means nothing if it is not shared with those who earn it, whether it is in the form of appropriate wages or an exceptional benefit package. I find it odd that with all the information available in this day in age regarding the benefits of employee engagement, employees are still at the bottom of the totem pole.
A company labor force typically is one of the largest expenses within an organization. Why not treat it with respect? An employee who is not engaged in the company’s goals will not be able to perform at 100%, which will lead to lost revenue. Any loss in operation capital is a big deal in…
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Employee Retention: Compensation
We all work to live, but few live to work. Unfair pay practices cripple the bottom line. Most business organizations view limiting and controlling wages as a way to increase the company’s profits. However, while limiting the compensation does increase the company’s bottom line, it has an adverse effect on the company’s production rate. By paying wages below the industry standard a company ends up paying more in the long run due to a demotivated labor force, employee turn over, and a diluted hiring pool.
If a company spends most of its revenue on labor, wouldn’t the company want staff to be productive? Of course the answer is a resounding YES! However, a demotivated employee is going to do the bare minimum to receive a paycheck. A demotivated employee does not care about the business because they feel the business does not care about them.
As a company, There are many ways to invest in employees; however, a company cannot begin to explore those options if fair wages are not being paid for the work being performed. An employee that feels trapped will become demotivated and disengaged and will resist change.
Anyone in the business community agree that a major challenge is employee recruitment and retention. Once an employee has been hired, a company spends a great deal of capital on the training and development of that new staff member.Company management be aware that every employee is more than an hourly wages. When looking at company’s profitability matrix is essential.Each employee comes to the company table with years of experiences, training, and most important customer rapport.
A company is incapable of recruiting new employees if the company’s reputation has been tarnished within their local community. When a company is known for unfair pay practices and a negative culture, a reputation for such develops within the local community containing a good pool of individuals to hire. A successful business cannot run without employees to perform the work.
Compensation is at the core of a successful employee engagement campaign. Employees cannot be motivated and will not be engaged if they are upset over unfair wages.
My advice to any employer, get money off the table is simple. Pay fair wages for the work being performed. That is it. By getting money off the table employees will feel like the company is investing in them, the work being performed is noticed, and it is at that point employees start to trust companies.
Employee Retention: Integrity
When two individuals sit down for the first time whether it be on a date, negotiating a business deal, or even an interview, judgements are formed as to whether the other individual will make a good fit in his/her life. Additionally, thoughts and ideas are being created as to whether or not one may be capable of adding benefit to this other person’s life. Each individual has his/her best face on and is likely showing only the best personal qualities, which is necessary in establishing a positive first impression. However, if one or both of the individuals are not honest in divulging their beliefs and values during this preliminary stage of the relationship, eventually things will come to a head, promises will become idle, stagnation and conflict will begin to occur, and the relationship will inevitably end—likely on not-so-good of terms. This same application is similar to the hiring process.
During the hiring process, first impressions happen on both sides of the desk, much like a first date. The interviewer is ensuring the candidate is qualified for the position, while also making sure both the position and company will be a good fit for the candidate’s lifestyle. Additionally, the interviewee is forming his/her opinions on the company while sizing up the position’s duties to his/her capabilities. However, as with any new relationship, a foundation of integrity and honesty must be built between both parties to ensure expectations are met, thus leading to a positive working relationship and high employment retention.
Much like the excitement of dating, getting someone to join your team is often the easy part. But like marriage, making sure the employee stays loyal, active and excited about the direction of the relationship, and not looking for a change may be more complex. Assume the interviewee accepted the offer and starts the new position, but the culture or benefits is not what was sold in the interview process. This immediately jeopardizes the company’s integrity, legacy, and changes the relationship between its employees. The employee begins to wonder if he/she made the right decision in joining this partnership.
It is important for the employer to remain both respectful and honest during the preliminary stages of employment. Both sides of the table need to fully understand the expectations of one another and how each are going to contribute to this forming relationship, as well as what each will receive from the relationship. As an employer, this means evaluating your company’s benefits, work-life balance, office culture and ensuring that while you are hiring quality personnel to help your company thrive, you are likewise reciprocating their contributions by following through with your promises of competitive pay, benefits, growth opportunities, and a respect for the employees’ lives outside of the office.
All successful relationships begin with a good first impression. But first impressions must be honest, not feigned. If growth is promised during the interview process, ensure opportunities are extended. If a respect for work-life balance is promised, make sure that respect is given. Honesty on the employer’s part is monumental in ensuring employee retention.
Employee Engagement Foundation
Employee engagement is not a complex concept. Actually, it is quite simple. Individuals, by nature, want to help out those around them. However, when one lacks all the tools needed to feel safe, respected, and a platform that promotes success, the employee will become disgruntle and work performance will decrease. Everyone wants to feel a sense of belonging. Once employees have achieved that feeling, great things tend to happen.
Appropriate Tools + Respect = An Engaged Employee
When referring to “appropriate tools,” we are not referencing computers or the office supply closet. We are talking about the building blocks that make an employee feel safe and respected.You will never be able to motivate and engage an employee who is under-paid or under-appreciated. You’re employing a human being, not a robot. Humans have basic needs that will always come before the needs of a business. If you’re a business owner and want your employees only working on work related tasks while at the office, take care of their basic needs first.
Basic needs can be broken down into two parts: physiological needs and safety needs. Both are interlaced and equally important in a business environment. Physiological needs refer to an individual’s need for food, water, and rest. Safety needs refer to security and safety. Those may sound simple and pose the question “what do these have to do with business?” If employees are hungry, tired, or behind on their bills–it has everything to do with business. Their minds are not on selling your goods or services. They are worried about those outside factors and, consequently, the business is not receiving 100% work production. This decrease can likely lead to upset customers or delayed production in goods and in return loss revenue.
To build a respectful and trustworthy relationship with the employees within any environment. You must care enough about them to make sure they are given the tools to take care of their basic needs. Once basic needs are met they will begin feeling a part of the team and, in return, care about the success of the business. This sense of caring will increase customer satisfaction and overall revenue.
The Employee Effect
The key to a truly successful business is not the revenue it generates! It is the impact on the customers’ and employees’ lives. This impact shapes the world around us. In the grand scheme of things, the money earned means nothing if it is not shared with those who earn it, whether it is in the form of appropriate wages or an exceptional benefit package. I find it odd that with all the information available in this day in age regarding the benefits of employee engagement, employees are still at the bottom of the totem pole.
A company labor force typically is one of the largest expenses within an organization. Why not treat it with respect? An employee who is not engaged in the company’s goals will not be able to perform at 100%, which will lead to lost revenue. Any loss in operation capital is a big deal in any business organization. Why is this concept a stranger in most companies? Corporate American needs to wake up and put on their common sense hats, and start to “Treat people like people”. Treating someone with respect, communicating with them, and providing them with enough resources to perform their job functions helps everyone.
You may have a complex process in your organization centered around the goods or services produced, but the core functions of your business are ran on common sense values.
This topic resonates with me because many experiences I have had in my personal and professional life. I have spent a large part of my life watching and not voicing my opinions on how things should be. This platform was created to express my views and opinions on restoring the common sense values in a corporate environment.
THE EMPLOYEE EFFECT 