Your staff are your business

Your staff are the lifeblood of the business, and they are a vast compendium of ideas, contacts, relationships, and life and industry experience, that can all be of value to smart organisations who find the route for tapping into that.

Most businesses will spend a significant part of their annual budget upon three core activities which are vital to success and survival.

1. Research into products, new markets, and more efficient ways of working

2. New business activity and marketing

3. Recruiting and replacing employees

Each of these areas are an on-going, continuous process, which never ceases and cannot afford to. They can be reinforced by engaging with employees and offering them the opportunity to earn significant rewards by contributing what they know.

Workman Global Survey 2023 found that employees who are recognised are:

• 4x as likely to be actively engaged at work
• 5x as likely to feel connected to their workplace culture
• 73% less likely to “always” or “very often” feel burned out
• 10,000-person company can save up to $16.1 million in turnover costs annually, not including the cost savings from increased engagement or productivity!

Benefiting from great employee ideas

Your staff have the benefit of working inside your organisation and seeing up close the effect and outcomes of current working practises, products, and services. They will have views about it, both positive and how it may be improved. Your business needs to listen to this and encourage it., particularly the ideas about positive change.  

How to gather employee ideas?

Give employees a formal vehicle to offer suggestions and ideas to help improve the business and offer generous rewards, for both the idea in the first place and when the idea comes to fruition. Consider a formal employee ideas element as part of an engagement programme, using online forms and submissions for sending ideas straight to the top of the organisation and recognising them for doing so.

Are you leveraging employee referrals?

You will be amazed at who your staff may know outside of your business circle. Friends, relatives, people in their social groups could be new customers for your products and services. Inspire your staff to give some thought to this. Sometimes people who deal with customers on matters unrelated to sales can be an unexpected source of new business. Reward your staff for bringing in new opportunities it can be very beneficial for your business.

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‍Recruiting new staff through existing employees

Personal recommendation is often a particularly effective way of filling a new post or replacing leavers. It can save significant costs on recruitment and provide reassurance that comes from a personal recommendation.

In summary, in all these areas, if you trust your staff to help and thank them generously, research shows employees who feel respected are more grateful for, and loyal to, their employer.

Talk to us about engaging your employees effectively to generate return for your business.  

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