Serial entrepreneur & business magnate Richard Branson has a very simple recipe for consistent growth and success for any company: “Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.”
His net worth is more than $5 billion, and he is best known for founding Virgin Atlantic Airlines, and recently spaceflight corporation Virgin Galactic, besides dozens of companies which he founded and sold off in the last 50 years.
If we delve deep into his quote regarding employee satisfaction, and employee motivation, we will have a glimpse into his mantra of success: Keep your employees happy, and they will do anything for your company.
But alas, this line of thought is not that consistent with the majority of businesses worldwide, and this is the reason that 85% of the employees are not happy with their working condition (Gallop’s State of the Global Workplace survey, 2017)
This is not a joke, because much massive dissatisfaction resulted in $7 trillion worth of productivity loss, across the globe.
How can we stop this?
Reason #1: Happy Employees Mean Happy Customers
Until and unless your employees are happy, your customers will never be able to have that satisfaction in service. In today’s service-oriented economy, it is the employees who are the torch-bearers of the company’s mission and vision, and the management cannot track and monitor every interaction they have with the customers.
That desire to serve better, and to cross that boundary in service delivery can only be achieved, when your employees are happy.
Reason #2: Boost Innovation & Productivity
When you invest in your employees and make them feel as part of the family, then the automatic side-effect is a boost in innovation and productivity.
Employees will come up with interesting ideas and theories to improve the work place, and to induce growth, whereas unhappy employees will do the exact opposite.
Reason #3: Retain Good Employees
In today’s cut-throat world of competition, the only way to retain employees is to keep them happy and satisfied. No, money is not the only factor here, but overall employee motivation and encouragement, along with regular training, upskill and reviews form the base.
If your employees are not happy, then they will leave your company, and there is no way a great company can be built because a company becomes great only with great employees.
Now, this is a subjective matter as to how you can invest for your employees, and what strategies needs to be applied to make it actually happen.
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