Have you felt it yet? If you haven’t, you soon will. There’s a shift afoot in the halls of corporations, not only in the U.S., but around the world. It starts with a hidden undercurrent of malaise and if not handled appropriately, it soon is impacting customer satisfaction, your reputation…and your bottom line.
One question I always ask everyone from the CEO to the administrative staff is, “are you happy? Do you love what you do?” And I’m never surprised by the answer. It ranges from hemming and hawing their way to an unconvincing yes; to a right out no with a fumbled explanation of how much time they have left or their reason for remaining and being unhappy.
Why You Should Care
So I can hear many business leaders saying, “I pay them a good wage, they have a job, they’re here to work. It’s not my job to make them happy.”
Okay. So making them happy isn’t your first priority. Maybe it should be. Do you care about
Your Company’s Reputation:
Unhappy or enraged employees give poor customer service. 85% of consumers say they retaliate against a company with bad customer service. Twitter, Facebook and a whole host of other social media sites make it super simple to do so. What’s that doing to your profits?
Risk of Injury and Lawsuits:
Companies with happy team members have 48% fewer safety incidents.
25% to 65% Increased Turnover:
Turnover costs can run 300% or more of each employee’s annual salary. And your highest performers are the first to go.
Happy Tribe = Happy Profits
When tribe members feel emotionally engaged with their company, creativity and innovation go up. They shift from focusing on “what’s in it for me?” to “what can I contribute to the whole?”
Think that’s not important? As Steve Jobs would say, “It’s not the job of the consumer to know what they want.” Ask yourself, is your team creatively engaged? Are they thinking about the next big thing you can offer to keep current buyers, in addition to inspiring new ones? Employees who are focused on themselves, their unhappiness…even if it’s only a low grade fever…are less likely to be all in.
According to a recent Gallup study, when employees are engaged and working as a team, companies experience:
48% drop in safety incidents
41% drop in quality problems
28% drop in employee theft
22% increase in profitability
Power of 3 Profit Strategies
Do a Team Audit
Unlike a financial audit which focuses on finances, a Team Audit delves into your most valuable asset, the people who are either adding to or subtracting from your bottom line. From all of the audits I have done, one thing is clear, the CEO and upper management rarely know what’s really going on in the company. Consequently, like a quality financial audit, a team audit must be conducted by an outsider. Don’t skimp here. Internal audits are destined to fail. And the more serious the problems, the bigger the failure. Real problems aren’t going to be even whispered to an insider.
Know Each Team Member’s “Currency”
While almost everyone would like a bump in salary, most employees do not cite it as their number 1 priority. They want to be heard. They want to be appreciated. And almost everyone has a special currency that makes them feel that way. One of my former secretaries wanted time off to watch her daughters play softball. When she was due for recognition and reward, that’s exactly what she got. What I got….a very loyal team member who was always ready to work a little later and give a little more because she valued being valued.
Institute Walking Meetings
Sitting at a desk, staring at a computer or in endless meetings kills creativity and increases stress. When blood is flowing, your team is more likely to be engaged and creative. Productivity goes up. Whenever possible, encourage team members to do “walking” meetings. You’ll be amazed at how it gets the creative juices flowing…and reduces stress.