Businesses starting to look at employees as ‘internal customers’
Juggling multiple parts of a business, like accounting, marketing, product development, sales, etc., to ensure they’re successful can often leave employee morale by the wayside. However, some companies are overlooking the financial impact that ignoring employee happiness can have on a business.
The effects of poor employee morale
Research has proven exactly how important it is for companies to keep an eye on employee morale. According to Bloomberg Businessweek, ignoring the well-being of employees can result in 20 percent less growth in revenue as compared to businesses with a highly satisfied staff. In that same vein, the Corporate Leadership Council revealed that 87 percent of employees are more likely to find a different place to work when they feel they aren’t happy or motivated. Companies will often spend an average of 21.4 percent of an employee’s annual pay in order to replace them, according to the Center for American Progress.
These statistics are why many businesses are starting to look at employees in an entirely different light. Perth, a promotional products provider, sees its employees as internal customers. The idea is to get them on board with the overall vision and mission of the company by keeping them happy and appreciated. The employees are just as important as the clients are to the success of the business.
Boosting morale with flexible work environments
It’s been established that poor morale in the workplace can have detrimental effects on a company, but how are businesses supposed to keep their employees happy? It’s often the little things, like sending out business greeting cards or recognizing birthdays and anniversaries, that can make the most positive difference. Those handwritten notes help employees feel recognized and appreciated.
Flexibility in the workplace is another important factor in keeping employees motivated. Research from Regus, a global workspace provider, revealed that flexible working environments help employees achieve a healthier and more satisfying work-life balance. Of the 2,200 senior managers and business owners that were surveyed, about 81 percent believe that an adjustable corporate environment improves productivity and even saves the company money.
“Having a choice in where, when and how we work makes a huge difference to our overall happiness; it helps us cut down on the stress of a long commute, frees up time to cook and eat healthily, or simply helps us get home earlier,” John Spencer, chief executive officer at Regus, explained to Employee Benefits.
Whether it’s a simple congratulations card on a job well done or having the ability to work from home, it’s evident that the satisfaction of employees can have a direct impact on finances as well as the overall success of businesses.
