How to Keep Employees Happy & Improve Profitability
Psychologist Abraham Maslow’s research into human behaviour places the need for belongingness third after satisfying basic physiological and safety needs. His research forms the basis of his Hierarchy of Needs that gives the necessity to belong towards the top of people’s needs. After hunger, thirst, shelter and staying out of danger, the necessity of belonging provides the most powerful motivation for humans. Our blog provides ways managers can make employees feel welcome, and increase their longevity with a company.
Finding Ways to Make Employees Happy
Investing in employees’ education responds to their desire to belong and addresses companies’ need for workforce development. They require much more than just belonging, however. Soliciting business development ideas from them is often more productive than one may imagine. After all, anyone who has daily contact with a company’s processes and practises may know more about them than managers who are further removed. Here is a quick list of some employee engagement steps that are easy to accomplish and can provide valuable returns on the small investment of time that they cost.
- Showing employees how their work aligns with the company’s goal provides reassurance.
- Recognising achievements rarely fails to motivate employees. This includes when employees complete suggested classes related to their role. Publically praising employee’s constructive behaviour like taking classes to encourage them further to continue learning and inspire other employees to follow in their footsteps.
- Executives can track employees’ goals with the help of Cornerstone’s Performance tool to help them stay on track. Showing employees that their management cares about them obtaining their short-term and long-term goals will encourage feelings of belonging and a desire to succeed.
Confirming the Importance of Investing in Employees
An urgent need to address learning and development issues vaulted from the eighth position to third in a new survey amongst business leaders. Ranking learning as “important” or “very important,” 85% of survey participants confirmed the growing focus training for employees. Deloitte University also noted this increase in learning and development investments for employees by 14% compared to last year, and the investment in learning for leadership has increased even faster.
Skilledup praises companies that invest in employees, citing how happy workers gain personal benefits and employers prosper as well. The large American restaurant chain in America named Cheesecake Factory invests about $2000 on training per employee each year, and employees respond by generating sales that nearly double the industry average.
Training Magazine honoured Discover Financial for its innovative educational program. By converting 70% of its training effort to e-learning, self-study and videos, the Fortune 1000 company’s programs experienced 42% less attrition than that for instructor-led classes. Employee satisfaction scores demonstrated an increase of 6%. According to an annual report that analyses Fortune 100’s Best Companies to Work For, the best companies make employee development a top priority.
Setting Up Unified Talent Management
A case study by Cornerstone OnDemand focuses on the talent management benefits that accrue from providing stimulating training opportunities for employees. By putting in place the specific tools that we recommend to create a more cohesive work environment, company leaders can enjoy the following improvements in communication:
- More active and meaningful discussions between staff and managers lead to an integrated review process. Aligning mutual goals with training and work experiences opens avenues to advancement.
- Better growth opportunities and talent readiness create a rich pool of qualified candidates who are ready to move up when positions open.
Enhance Learning Software with Performance Tracking
Our advanced approach to online learning promises to help organisations make efficient decisions for improving employee performance. By basing investment decisions on evidence of what works and what is needed, company leaders can get the best return on investment. Benefits to an organisation through incorporating this approach include the alignment of performance to key business drivers. Harnessing impact, effectiveness and efficiency allows for the integration of people data with critical organisational systems. Human capital practitioners can make better and faster evidence-based decisions with the proper tools.