A thought becomes an idea, then that idea turns into a dream, which in turn then becomes the fuel to take action. This is how every business has ever started. It doesn’t matter if you have a multi-billion dollar international company or a small mom and pop shop. Acting on your idea about a product or service can improve the lives of consumers locally or globally. Essentially a successful business either improves the lives of its customers or solves a problem. That’s it!
What about the people who serve our customers? The people who represent our brand and the success of our company. Most people don’t begin a business with their future employees in mind. However, now that our dream has been realized, how do we better serve the people, who serve our customers?
Why is it we all know inherently that the more you invest in the growth of your team the faster your company grows? But yet few companies take the time or the resources to reinvest in their people? Inevitably there will come a point when a lack of employee investment will eventually undermine the company’s future goals and success. This simple strategy is as true as the sun rising in the east. This is especially true now potential employees are deciding where to work based on two important values, feeling valued and respected and work/life balance.
For many companies it is simply a lack of understanding of what to do, or what works. For many companies this issue is a financial one. They want to know what is the ROI for an employee engagement program. Finally for others, it is about timing. How do we start and where?
If you were to do a literature search on the benefits of employee investment programs you will find over 250 articles that substantiate the importance and value. Lets look at the benefits for the employees and their companies
What are some of the benefits employees’ experience? Employees feel a deeper sense of purpose and commitment to their job. It helps them reconnect to their passion. It increases their sense of loyalty. Employees are willing to work harder when they feel valued. When employees learn a new skill that helps them create more work/life balance they are happier and less stressed at home and work. This results in a significant decrease in lost workdays therefore the associated healthcare costs are also reduced greatly. Employee investment inevitably saves money and helps them experience an improved quality of life. The list goes on…
What about the benefit to the company? Well, if we care at all about our people, the above-mentioned employee benefits should be more than enough, however let’s look at this purely from the bottom line. When our employees stress levels decrease significantly, the cost saving are tremendous. According to a Rand Report for every dollar spent on employee wellness and engagement programs it results in three dollars in costs savings. Who doesn’t want that?
How increased retention rates? People who feel valued simply stay longer, up to 45% longer. A recent Gallup study revealed a 20% increase in employee production. What’s that worth? How about a happier, more engaged workforce that is committed and loves what they do, isn’t that worth the investment?
The facts are inarguable; investing in our employees pays off in so many ways it is crazy not to consider doing so in 2019.
If your company already is committed to employee growth, congratulations you get it! What do you have planned for next year? Ask your employees what they would like to learn and how do they want to grow. If you currently lack a plan to invest and engage your employees I hope you now understand it is not a luxury but a necessity. Make a plan, identify where the needs exist and take action today. The future success of your company is at stake.
One of the core tenets of TripleLife nation is “growing people grow businesses.” If you want to learn how we can help you grow your business and team please contact us at info@triplePLife.com and one of our team members will set up your free 30 minute consultation. Lets us help you make 2019 your best year ever!
EmPowering Dreams, Igniting Passion, Accelerating Prosperity
For this week’s podcast:
EmPower Your Dreams, Ignite Your Passion, Accelerate Your Prosperity
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