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How caring for your employees can improve your bottom line

Are you doing everything right by the book but not improving your productivity and efficiency as you want? Well, maybe that’s because you’re taking your employees for granted. And that must change if you need to increase your productivity, growth and profits.

Your employees are like your kids at home. They require your attention, energy and time. Caring for your employees can increase your bottom line in the short run and long run. According to Forbes employees who are more engaged and heard perform 4.6 times more than employees who are neglected. The same study also shows that disengaged employees cost companies more than $550 billion a year.

For this reason, ensure your employees are happy and well. In this article you’ll learn 7 ways caring for your employees improves productivity, performance and profits.

But before we dive in, let’s look at 5 scenarios that foster negativity and unhappiness in the workplace, thus leading to poor productivity and outcome in the office.

  1. Excess work
  2. Employees to carry work home
  3. Poor retirement plans
  4. Lack of rewards and appreciation
  5. Being a pushy naggy boss

These five are just the tip of the iceberg. But now that you know what you’re doing wrong, let’s discuss how to care for your employee to improve the bottom line.

1. Ensure employees’ health and wellness

Fostering a health and wellness program reduces stress, blood pressure, cholesterols, absenteeism, health care costs, and increases productivity in the workplace.

But how is this possible?

When your employees are healthy and well, they are happier, more productive and easily retainable, in fact, on most occasions, they will leave your company. Did you know that 131% of employees who suffer from depression and 79% who suffer free knee and neck pain are likely to have more presentism than employees who are not depressed or lack neck and knee pain? This goes to show the importance of health and wellness in the workplace.

Ensuring health and wellness reduces absenteeism in the workplace, thus improving your bottom line.

2. Promote a life-work balance

Your employees are human beings, not machines. Besides work, they have a personal life too. Therefore, embrace a life-work balance in the workplace. And there are many ways to achieve this. For example, by:

  • Providing flexible hours
  • Enabling remote working
  • Allowing breaks and rests
  • Giving time offs
  • Allow parents to see their kids more.

Promoting a life-work balance will improve your bottom line because employees work when they are most productive and deliver to their uttermost best. Also, it gives them time to relax and clear their minds of stress and anxiety that affect their efficiency and effectiveness, thus leading to poor performance and profit loss. Embracing a life-work balance shows you’re a moral leader. It makes you lead by example and your employees can follow in your footsteps.

3. Embrace group work and collaboration

Did you know that over 75% of employees rate teamwork as very vital in the organization? Allowing your employees to engage in group work and collaboration increases productivity and your bottom line in the long run. And better yet, they can online with the plethora of collaboration tools today and the health times during this COVID-19 period. 80% of businesses use social collaboration tools, don’t be left out.

Here’s how.

When employees come together to tackle a project that fosters unity teamwork, they agree and disagree until they get the best solution. They support each other.  Also, those who are green on the field get to learn and receive mentorship from their colleagues. It’s the best way for your employees to acquire new skills.

Teamwork also increases engagement between employees leading to happiness in the workplace. It fosters proper communication within the workplace. Also, it encourages creativity and healthy competition within the business.

Furthermore, it fosters trust and increases your productivity as interaction leads to more activity in the office. Lastly, it improves the company’s culture.

4. Empower your employees

Allowing your employees to be innovative and take risks empowers them to make right and critical decisions and follow up.

Give them a listening ear when they present new ideas and show them the correct way forward

Another great way to empower your employees is by challenging them to take risks.

5. Provide financial service and education for your employees

Another way to care for your employees is by providing financial services and education for your employees.

When they are financially aware, they understand money better and how to handle it effectively. You can provide them with simple knowledge like how to create a budget. Teach them how to avoid debts and pay off debts. Or how to save for long-term goals like buying a house.

6. Create a proper reward system and appreciate your employees

If you’re not rewarding your employees, you’re making a terrible mistake. This is because employees who are not appreciated are more likely to quit their jobs. And that’s not all even if they stay they underperform.

For this reason, you should appreciate your employees and create a proper reward system. This boosts their morale and makes them perform better and become loyal to your organization.

Rewarding your employees also indicates that you value your employees and what they bring to the table. Thus leading to high performance. Whichever type of reward you choose to give employees ensures it’s relevant, and suits your organization. For example, offer financial, non-financial, membership and performance-based rewards. Furthermore, rewards are a source of motivation.

Rewards increase your bottom line in that when you award your employees, it motivates them to do the next projects, as they develop a positive attitude, become more engaged towards work and produce greater results.

Importance of caring for your employees and how it increases your bottom line.

Employee retention

Taking care of your employees increases your employee retention. Top-tier employers understand that retaining talent is more cost-effective than hiring that’s why they dedicate their efforts to caring for their employees. So that they can stick around as long as possible. Saving you from the expensive costs of recruiting new top talent.

Lack of absenteeism and sick leaves

When you take care of your employees’ health and wellness, you will reduce Ibsenism and sick leave days. This is because you’ve created a clean environment and your employees are healthy.

Happy employees

Did you know that employees are 13% more productive when they are happy. Happy employees perform better. They are more engaging and productive. This influences your productivity and bottom line.

Increased loyalty

If you want your employees to be loyal to your company, take good care of them, support their ideas, listen to their needs, be there for them when they need you. They will reciprocate by offering you unwavering loyalty. Therefore, make an effort to cultivate employee loyalty.

Here’s how to win your employees’ loyalty and increase your bottom line.

  • Get to learn and know about your employees
  • Keep them updated and remind them of your vision and goals frequently
  • Encourage innovativeness and creativity
  • Give them more power and responsibility
  • Provide them with training
  • Reward them when they perform well

Increased customer relationships

Taking care of your employees increases customers’ relationships and your bottom line.  This is because when you care for your employees they become cheerful souls and they carry this energy and vibration when they interact with your customers, thus increasing customer relationships.

Conclusion

Caring for your employees can improve your bottom line. There is no doubt about that. But the ball is on your court. You can care for your employees with the methods discussed above. And you’ll reap the benefits discussed above and above all you’ll  enjoy an increase in productivity and improve your bottom line in the short  run and long run.