Losing an employee can result in loss of talent, recruitment expenses, the cost of training a new employee and the cost of lost opportunities, to name but a few. Retaining employees reduces HR costs, promotes company growth from within and improves customer service. Engaging employees will make them 87% less likely to leave, as they don’t have a reason to look elsewhere for work.
61% of employees are burned out on the job.This means that they are experiencing high levels of stress resulting in poor physical and mental health. Having a good work-life balance increases employee morale and results in reduced absenteeism and increased productivity. Unfortunately, a lack of work-life balance is the reason that 27% of people leave their current jobs.The key to implementing a better work-life balance isn’t just about gimmicks like free massages and giving you a day off on your birthday, it’s about enabling flexible working and investing in wellness strategies – ask your staff what they need and try and accommodate.
5. Increased customer satisfaction
“To win in the marketplace, you must first win in the workplace” – Doug Conant, former CEO of Campbell Soup
The service an employee delivers to a customer is linked to how engaged they are with their organisation. Happy employees equal happy customers – this is demonstrated in a survey by Gallup that found that companies in the top quartile of employee engagement experience 10% higher customer ratings. Engaged employees spread their enthusiasm and passion for a company to customers, therefore providing the best possible service. Satisfied customers also have the same effect on employees.Positive customer experiences can reinforce how employees feel about the value and purpose of their work. It’s a win, win situation!