As an employer and business owner, taking care of your employees is crucial to running a successful business. Employees are the reason your company is up and running instead of buried in the ground; acknowledging the contributions your employees make to your business will help improve the work environment your company has and your business as a whole. Here are some other reasons why taking care of your employees will be beneficial in the long run.
When a company treats its employees well, said employees will become more productive and loyal to their workplace than those who are not. An employer-employee relationship is like any other relationship: if you treat each other well, you’ll earn loyalty on both sides. If you acknowledge the work your employees put in and reciprocate that effort, they’ll want to work harder and be more productive.
Additionally, employers who take care of their employees will have higher retention rates among employees than companies that do not. A retention rate is how many employees stay with a company either within a year or since the business started. Most importantly, the retention rate shows your company’s stability. Rather than predicting your employees will want to job hop from one job to another, keep in mind that employees want stability from the company they work for. Whether or not they stay depends on how they’re treated and the work conditions they’re in. Taking care of your employees throughout their employment will make them more likely to stay than find another job. If your company suffers from a low retention rate, consider revising the employee benefits and bonuses.
When you treat your employees right, you’ll have a stronger relationship with your customer base. This is especially important if your employees often interact with your customers; they’re the ones who will be creating your company’s image for your customers. If your employees aren’t happy with their work, that will reflect in their customer interactions. Those who are happy with the business they work for will be happier to represent the company, which will also reflect in their customer service.
Lastly, employees treated well by their employers will use less sick leave than those not treated well. As an employer, it’s your duty to maintain the health and wellness of those who work for you by keeping a clean environment and having wellness programs that employees can take advantage of. Offering options for employees to maintain their physical and mental health will make them less likely to use sick leave. Meanwhile, those who don’t look after the health of their employees will see more taking sick days, negatively impacting the company and productivity—especially if some employees work while sick.