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Want to increase company productivity and profitability? it’s all about winning hearts and minds - Guest Article by Garth Delikan

There can be no doubt that over the last few years industries across the world have suffered and only the ones who have adapted and evolved have managed to not only to increase their profits year by year but most importantly managed to keep hold of most of their key personnel.

In an ever-changing economy where wage increases have been below the level of inflation for many years now, people are finding it harder and harder to simply live day to day and keep up with the cost of living. These people will always have one eye on the jobs horizon looking to at least maintain if not improve their lifestyles. This is not simply about being paid more but also and increasingly, in terms of job satisfaction. This is something that the top performing companies understand and why they differ so much from their competitors in terms of staff retention and why they show a consistent year on year increase in growth and proven staff retention and job satisfaction.

Financial security and job satisfaction are so very important with official figures showing  526,000 workers nationally suffering from work-related stress, depression or anxiety (new or long-standing) and 12.5 million working days lost due to work-related stress, depression or anxiety in 2016/17 these are alarming statistics and simply cannot be ignored. If you want to enjoy the benefits of company growth like the top performing companies who recognise that happy employees make better workers, and better workers put in more effort i.e. work harder, which in turn leads to more productivity and higher profits, it’s a no-brainer.

Another factor to take into consideration is the cost of recruitment which on average is £3000 per employee not including training costs.

With an average annual turnover of 15% a company of 250 employees that would equal 22 employees which equal £66,000, a not insignificant amount I’m sure you’ll agree.

If your company is consistently turning over staff at a higher national percentage rate than average, (above 15%) then you’re in trouble, as these costs cannot be recouped and there are all the hidden costs and impact on morale in addition.

Google, the only firm on the list to be awarded a 4.5 out of five rating, was described by one employee as an “exciting company” with “tons of opportunity and amazing people”. Another pointed out the positive work culture where “everyone in different departments works collaboratively”.

The same employee also remarked on the excellent benefits provided by the internet conglomerate, such as “free food, health insurance, dental insurance, travel expenses and shares”.

The rankings are based on employee reviews submitted on jobs site Glassdoor between November 2016 and October 2017, with the website using a proprietary algorithm to produce a score out of five for each company. Companies are only included if they have 1,000 employees or more, so these are huge corporations who recognise the benefits of a workforce with high morale and who feel appreciated and cared for, which are basic human needs.

Out of almost one million employees reviewed on Glassdoor, the average company rating was 3.3 out of five.

I realise that your company may not be as large as these organisations, or have the “cash” of a Google, however, that’s no excuse to start addressing any problems now and implementing small positive changes now!

There’s an old saying that “the smallest changes can make the biggest difference” so starting to make those positive changes now will only be good in the long term.

Simply start to put a plan into place that will fit in with your own company budget and your own culture and values. Make people start to feel wanted and they will pay it back in spades in terms of increased morale, higher productivity and in turn increased profits. Changes based on key workplace attributes such as career opportunities, compensation and benefits, culture and values, senior management and work-life balance.

Monitoring staff turnover is important for all organisations so that they can respond quickly when levels reach a point that is damaging to the business

This is where HR really adds value and drives a real and positive impact on the bottom line.

Working closely in conjunction with HR to look carefully at the recruitment and selection strategy – and its onboarding process. It’s important to ensure new starters receive ongoing support and attention and have the opportunity to raise any concerns as soon as possible, as this has been proven to reduce to avoid staff turnover among this group. Losing an average of one in 10 employees before completing one year of service is not only costly in terms of resources, but also for employee engagement among those already in work.

With Employee resignations now at a five-year high at 15.5%, according to research from XpertHR, this is a problem that will simply not go away.

So, to run a more cost-efficient business and increase company morale, increase productivity and therefore profitability you need one thing, and that one thing is a…

HAPPY EMPLOYEE!

What does that happy employee look like, well in simplistic terms I’m going to bullet point them for you:

  • Happiness encourages creativity.
  • Happy employees are more accurate and have better analytical abilities.
  • Happy employees are better at handling adversity.
  • Happy employees equal lower costs.
  • Happy employees are better at sealing the deal.
  • Happy employees provide better service:
  • Happy employees are more productive.
  • Happy employees stay.
  • Happy employees can be a part of a branding strategy and boost sales.

I used to work in advertising and ran a multi-media agency in Carnaby Street, and several other successful businesses over a 25-year period, and I realised then that my “employees were paramount to the success of my business” and I treated them like that.

Win their hearts and you win their minds, it’s a simple as that.

 

Garth Delikan

Garth works with a huge variety of organisations including BAE Systems, Astra Zeneca, Barcap, BP, Anglo American, Diageo, Imperial Tobacco to name a few. He specialises in workshops on confidence building, managing workplace stress, lifestyle, nutrition, wellbeing and personal safety awareness nationwide

Contact details:

Telephone: 07931 515392

Linkedin: https://www.linkedin.com/in/lifestyleguy

Facebook: https://www.facebook.com/GarthDelikan/

Instagram: https://www.instagram.com/garthdelikan/

Meet Garth: Amazon best selling author, corporate trainer and lifestyle expert.

I’m an expert on increasing company productivity and profitability by training employees in creating harmonious teamwork and have delivered training to companies such as Astra Zeneca, Diageo, BP, Sony, Anglo American, BAE Systems, ICI and many London advertising agencies.

What I do: I help companies increase profits by reducing staff turnover by delivering training and workshops on confident life skills and stress management, training employees to maintain a happy working environment where everyone feels included and accepted and morale is high.

 

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