Stop Costing Your Company Money
The Bottom Line: Positive Employee Relations are Key
Would you be surprised to learn employee disengagement is costing the United States $370 billion annually due to productivity loss? It’s crazy to think that employees who hate their jobs are actually costing the US money.
On a positive note, employees who love their jobs and who are highly engaged help save their company 5% in their respective departments. Bottom line, wake up your disengaged employees and figure out what lights their fire. If they are just a waste of space…get rid of them. Otherwise pep em’ up!
Recognizing Employee Achievements
It is more than just money. Give your employees recognition (not monetarily). Let them know they are doing a good job and be specific about what they’ve done. Studies show, “69% of employees would work harder if they were better recognized for their performance and achievements.”
Build meaningful relationships with your employees. Let them know you are a real person and not just their boss and you value their contributions. Tell them about your weekend, kids, hobbies, or even invite them to happy hour. People who voluntarily leave their jobs are more than likely “not quitting the company, they’re quitting their boss.” Don’t be ‘that’ boss. This is especially true of Millennials — but all employees want and benefit from this!
Social Collaboration and Peer-to-Peer Learning
Encourage informal learning to occur more often, rather than torturous formal training sessions with long PowerPoint presentations and ‘exciting’ guest speakers. Let them learn from one another informally; this is how 80% of on the job learning happens after all. So let it happen, it will allow employees to engage and grow with one another.