If someone were to ask a business leader, HR Manager, anybody within the working world the question “what is a company’s greatest asset?“ the majority would come back with the same answer, “their employees”.
As the well-known phrase goes “the greatest investment you can make is in people” and it really is that simple. When looking at an organisation from the outside in, it is clear to see that the employees are the very foundation and overall backbone of how a business operates.
Research from Gallop shows that 70% of U.S employees are disengaged at work meaning they are not working to their full potential. Moreover, disengaged employees are costing the economy $425 to $525 billion in lost productivity and therefore lost profit each year!
By investing in their employee’s overall wellbeing, not only does this help ensure productivity amongst teams, but also a huge motivator when it comes to retaining employees. The average employer is not a naive one, they are able to pick up on their employer’s unwillingness to invest in further training which is seen by the employer as a shunt to their professional development.
A myriad of research has come to show a direct link between a companies overall performance and it is directly related to the satisfaction and self-esteem of its employees. Very similar to our the blog surrounding ‘Company Values‘, an organisation with a strong workplace culture has a direct relation to increases in profits. Happy Staff = Happy Customers = Happy Shareholders.
Nobody knows a customer better than employees who are at the forefront of building the rapport in a B2C relationship with the client. As they interact directly with the customer every day, they are the ones who hold the answers when it comes to improving customer service, improving systems and overall being a more efficient and streamlined workforce.
A recent study by the University of Pennsylvania saw businesses who invested 10% of their revenue on their employees saw an overall improvement in productivity of up to 9%. Alternatively, businesses that spent 10% of their revenue on general improvements (systems, equipment etc.) only saw productivity rise by 4%.
Not only is an employee the lifeblood of an organisation, but they are also the perfect ambassador for your brand and should be seen not only as a businesses greatest asset but a priceless one at that.