360° Coverage : Happy Employees = Hefty Profits

2 Updates
Happy Employees = Hefty Profits

Happy Employees = Hefty Profits

Jan 19 2014, 4:34pm CST | by

I can walk into a company and tell within seconds whether or not its employees are well treated and happy on a basic level. The level of employee engagement, warmth and sense of a shared purpose is...

Filed under: news

 
 
 

31 weeks ago

Happy Employees = Hefty Profits

Jan 19 2014, 4:34pm CST | by

I can walk into a company and tell within seconds whether or not its employees are well treated and happy on a basic level. The level of employee engagement, warmth and sense of a shared purpose is palpable. It’s something I simply feel after being in the business of talent management for several years. And while my conclusion may be subjective, there’s plenty of hard evidence that shows that happy employees lead directly to better performance and higher profits. Last year revenues increased by an average of 22.2 percent for the 2014 Fortune 100 Best Companies to Work For. And according to the Bureau of Labor Statistics, these same companies added new employees at rate that was five times higher than the national average.

In other words, it pays to invest in your people. It also happens to be the right thing to do.

And what makes for happy employees? Here’s a list of 5 tools to create a culture and workplace that is growing, dynamic, fun, wildly productive and highly profitable.

1) Pay fairly. At the end of the day, it’s about the pay. Yes, many employees love their work, love their jobs, love their colleagues, but the bottom line is they are there to earn a living. Smart leaders pay people well. This is non-negotiable.

2) Deliver awesome benefits. Whether it’s a good health plan, childcare, transportation, a fitness center or free lunch on Fridays, benefits make people’s lives easier and better. They feel appreciated and cared for, which leads to increased loyalty and a willing to go the extra mile.

3) Keep an open leadership door — and an open mind. Numerous studies have down that when management is approachable and responsive, employee engagement soars. People spend a big chunk of their lives at work, and when they feel voiceless their frustration grows. Actively solicit feedback via social media and old-fashioned management by walking around.

4) Share the profits. When employees share in the good times, their investment in the company grows and they will be far more likely to work hard — and to dig deep during the not-so-good times. When the international literary sensation Fifty Shades of Gray lifted publisher Simon & Schuster to record profits, the company gave every employee a $5000 bonus. This is just plain smart leadership.

5) Make your workplace fun. No, I don’t mean cheesy balloon-a-thons and annoying rah-rah rallies. This is about encouraging people to bring their personalities, quirks and passions to work. This leads to an increasingly seamless work/life mesh, a sense that people can really be themselves at work. Games, laughter, fun are great stress relievers, they renew and refresh us, and build very real bonds between employees.

None of this is rocket science, in fact it’s Leadership 101. But like all simple truths, it bears repeating because it is so important. Talent simply won’t hang around in a cold, mechanical, stifling, repressive culture. Developing happy employees is what twenty-first century management is all about. And guess what? It makes leadership a lot more fun, too!

Source: Forbes Business

 
Update
2

1 day ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 b ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 days ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Modi, Abe strike chord; Kyoto to help make Varanasi smart city (Intro Roundup)
Kyoto, Aug 30 (IANS) Warmth, mutual admiration and convergent views marked the meeting between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe Saturday as India hoped the two sides would strive to achieve in five years the unrealised potential of the past five decades.
 
 
Modi, Abe strike chord, India hopes ties reach full potential (Roundup)
Kyoto, Aug 30 (IANS) Warmth, mutual admiration and convergence of views marked the meeting between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe Saturday as India hoped the two sides would strive to achieve in five years the unrealised potential of five decades.
 
 
Modi in Japan: Kyoto-Varanasi partnership pact inked
Kyoto, Aug 30 (IANS) Indian Prime Minister Narendra Modi began a five-day visit to Japan Saturday, a day that saw the inking of a partnership agreement between Varanasi, one of the oldest continuously inhabited cities in the world, and Kyoto, which was the capital of Japan for over 1,000 years.
 
 
Essar sells Kenya telecom business for $120 million
Nairobi, Aug 30 (IANS) Essar Capital Saturday announced the signing of binding agreements with Safaricom and Airtel for the sale of its telecom business in Kenya for $120 million.
 
 
 

Latest from the Network

Motherhood made Kim go less on make-up
Los Angeles, Aug 31 (IANS) Reality TV star Kim Kardashian believes in having picture perfect tresses and in looking good, but she says motherhood has sobered down her beautification routine. With her 14-month-old...
Read more on Celebrity Balla
 
At 17, Chloe Grace Moretz fights for roles
Los Angeles, Aug 31 (IANS) "If I Stay" actress Chloe Grace Moretz says she still struggles to land movie roles as she battles against 'ageism' in the film industry. The 17-year-old actress has starred in a string of...
Read more on Celebrity Balla
 
PTI, MQM to observe mourning day
Islamabad, Aug 31 (IANS) Pakistan Tehreek-e-Insaf (PTI) and Muttahida Qaumi Movement (MQM) have announced to observe a day of mourning Sunday following the clashes between protesters and law enforcers in Islamabad,...
Read more on Politics Balla
 
Adam Levine paid fan's rent for a month
London, Aug 31 (IANS) Maroon 5 singer Adam Levine has revealed he once paid a fan's house rent for a month. Levine has spoken out about his generosity after paying for a fan after the latter's bill was thrown at him...
Read more on Celebrity Balla
 
Eight killed, 100 injured in Pakistan protest clashes
Islamabad, Aug 31 (IANS) At least eight people have been killed and over 100 injured in the clashes between police and protesters in Pakistan as the protesters marched towards the prime minister's house. The Pakistan...
Read more on Politics Balla
 
Polish PM elected European Council president
Brussels, Aug 31 (IANS) The European Union (EU) leaders Saturday elected Polish Prime Minister Donald Tusk as president and Italian Foreign Minister Federica Mogherini as the foreign policy chief of the European...
Read more on Politics Balla
 
EU ready to impose new sanctions on Russia
Brussels, Aug 31 (IANS) The European Union's leaders decided Sunday to give Russia one week to de-escalate Ukraine crisis, otherwise they would impose tougher sanctions on Russia, European Council President Herman Van...
Read more on Politics Balla
 
Robert Pattinson dating FKA Twigs?
London, Aug 31 (IANS) "The Twilight Saga" actor Robert Pattinson is reportedly dating singer FKA Twigs, whose real name is Tahliah Barnett. The couple has reportedly been going on dates together for a "month or so". "...
Read more on Celebrity Balla
 
Crisis with Russia close to 'full-scale war'
Brussels, Aug 31 (IANS/EFE) Ukrainian President Petro Poroshenko said Saturday that his country is "close to the point of no return" and "point of no return is full-scale war". "I think that we are very close to the...
Read more on Politics Balla
 
Jennifer Lawrence to join Chris Martin on tour?
Jennifer Lawrence will reportedly join Chris Martin on his Coldplay tour later this year. The couple only started dating in June, but it appears their new romance is getting fairly serious as the 24-year-old actress is...
Read more on Celebrity Balla