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

 
 
 

32 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

4 days 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 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

5 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 MH370 and MH17 ...
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

Watch your diet to reduce diabetes risk
London, Sep 3 (IANS) What you eat and drink, and not just the number of calories, is a significant factor in diabetes risk, a study showed.
 
 
2016 NASA asteroid mission awaits your messages
Washington, Sep 3 (IANS) NASA has invited the public to submit short messages and images on social media that could be placed in a time capsule aboard a spacecraft to be launched in 2016 for an asteroid study.
 
 
Exercise can stem frequent night urination in men
New York, Sep 3 (IANS) Men who are physically active are at lower risk of nocturia - waking up at night to urinate, says a study.
 
 
Nippon Life keen to hike stake in Reliance Life
Tokyo, Sep 3 (IANS) Nippon Life Insurance of Japan wants to hike its stake in its Indian joint venture Reliance Life Insurance to 49 percent from 26 percent, when India notifies the decision of higher foreign equity cap in the sector, a news report here said.
 
 
 

Latest from the Network

Watch your diet to reduce diabetes risk
London, Sep 3 (IANS) What you eat and drink, and not just the number of calories, is a significant factor in diabetes risk, a study showed. Losing weight may be good but not enough to prevent Type 2 diabetes as...
Read more on Celebrity Balla
 
35 militants killed in Afghanistan
Kabul, Sep 3 (IANS) At least 35 Taliban militants have been killed in fresh military operations across Afghanistan, the interior ministry said Wednesday. The Afghan National Security Forces (ANSF) carried out...
Read more on Politics Balla
 
Vince Vaughn for The Politician?
Vince Vaughn is set to star in 'The Politician'. The 'Wedding Crashers' star is attached to take on the lead role in the upcoming Columbia comedy about a scandal-hit politician, according to The Hollywood Reporter. The...
Read more on Movie Balla
 
910 militants, 82 soldiers killed in North Waziristan
Islamabad, Sep 3 (IANS) At least 910 militants and 82 Pakistani soldiers have been killed in operation Zarb-i-Azb in North Waziristan, the military said Wednesday. The statement issued by the Inter-Services Public...
Read more on Politics Balla
 
'Headscarf instils positive body image in British Muslim women'
London, Sep 3 (IANS) British Muslim women who wear a hijab (headscarf) generally have a more positive body image, are less reliant on media messages about beauty ideals and place less importance on appearance than...
Read more on Celebrity Balla
 
Console games new threat to global climate: Study
New York, Sep 3 (IANS) Console games downloaded over broadband internet are causing more greenhouse gas emissions than Blu-ray discs delivered via retail stores, new research reveals. It is not always true that...
Read more on Celebrity Balla
 
Human greed driving species towards extinction: Study
Washington, Sep 3 (IANS) In a disturbing trend, scientists have reported that species are becoming extinct as much as 1,000 times more frequently - 10 times worse than the previous estimates - owing to human population...
Read more on Politics Balla
 
Kelly Brook's traumatic childhood
Kelly Brook has opened up about ''violent and horrific'' memories from her childhood. The 35-year-old actress has revealed that although she enjoyed some aspects of growing up on a council estate in Kent, South East...
Read more on Celebrity Balla
 
Emmy Rossum not 'easy'
Emmy Rossum insists she's not ''easy'' like her 'Shameless' character. The 27-year-old actress stars as Fiona Gallagher in the US remake of the hit series and she's revealed that although she's had sex on a first date,...
Read more on Celebrity Balla
 
2016 NASA asteroid mission awaits your messages
Washington, Sep 3 (IANS) NASA has invited the public to submit short messages and images on social media that could be placed in a time capsule aboard a spacecraft to be launched in 2016 for an asteroid study. Called...
Read more on Apple Balla