Out the mouth of our UK Regional Manager: Lloyd Etherington
In a world where fast-paced decisions and latest trends drive so much of what we focus on, there is one area of business where change is best opt to a steady minimum: employee turnover. By now we all know that the loyal days of sticking with one company for life are long gone and that younger generations are becoming well-acquainted with a fluid career path, but there is still a lot that needs to be done to keep employees engaged, motivated and inspired while working.
The topic has been covered extensively over the past decade with the rise of human resource management, and companies like Google have led the way on the road to cultivating happier, (more) loyal employees. But how can businesses with tighter budgeting constraints ensure that employees stick around and what are the benefits that come with this?
As with most areas of business, the ROI needs to be justified before money can be spent and employees are no different. Luckily, if you get the basics right, there is a lot to be gained from investing in your employees. Engagement Trends cites exciting evidence to suggest that a little employee engagement can go a long way in improving productivity, increasing profitability, retaining clients and building a reputable brand along the way. On the flip side, there are many ways to waste money on unnecessary benefits that do nothing to improve employee well-being. It’s important that employees feel the benefit of change. After all, not every business needs a ping pong table in the office.
Perhaps less obvious is the answer to how this can be achieved where little to no budget exists for such frivolous spending. The answer is hidden among the finer details of everything that makes up your employees’ experience at work, and not necessarily on costly training courses or company events. Finding out what makes your employees tick is a start but having a public wish list might get you into a tight spot.
At Chase, we’ve focused on delivering products which simplify the day-to-day lives of employees while freeing up time to allow focus on more important aspects of business. Automated reports give instant access to key information, intelligent tasking assigns individuals work based on availability, and a structured information system allows for easy capture and sharing of documents among colleagues and clients. These tools allow employees to focus on the task at hand, and managers to quickly respond to changing business requirements without the need to re-allocate and re-calculate on the fly.
As leaders of business, it’s important to realise how the small, cost-effective wins can improve the way your team functions. By taking small steps to understand your employees’ needs, identify their key frustrations and solve the problems they face on a daily basis you are likely to motivate and engage on a higher level to move your team forward. As the stats suggest, the benefits of doing so have a positive impact on all areas of business.