My Employees Get a Paycheck, Why Should I do More?
Business analyst Jason Evanish uncovered a hard truth: losing a single employee can cost a company tens of thousands of dollars. The process of sourcing, interviewing, and hiring a replacement can put a permanent dent in a company’s funds. This setback begs the question: how can we keep our team members and maintain employee loyalty? It turns out that salary is not the answer to this question, but employee morale is. While your company may be handing over adequate paychecks to employees, it takes positive work environments to keep teams together. You pay your employees satisfactory wages, so why should you do more? With increased productivity, creativity, and loyalty, positive employee morale is a valuable asset your company needs to cultivate.
The first step in cultivating employee morale and loyalty is recognizing team members as humans, not money-making machines. This requires leadership to go beyond checking an employee’s sales, but also check into their values, career goals, and more. Very few CFO’s have time in their workdays to touch base with each team member, so companies can utilize supervisors, management, and human resources to check in with employees.
A buzzword within positive employee moral is “life-work balance”. Total Workplace Logistics, a business analytics company based in Cincinnati, shares that employees who think they have a positive work-life balance are more productive and dedicated by 21 percent than those who don’t think so. Positive employee morale improves team member’s perception of life-work balance, as it creates connections between an employee’s strengths, values, and passions with their company. Conclusively, those in leadership do not need to have a heart-to-heart with each employee daily to increase positive employee morale. However, simple routines and structures within a company’s management can create employee loyalty through connection, positivity, and intentionality.
Looking for more tips on how to cultivate employee engagement, morale, and loyalty? Check out the Ezzely app for practical and effective tools to serve your company!