Employee engagement has quickly become one of the biggest driving forces in the business world. And as the age of the Internet continues to progress, so has the ability for current and future employees to read previously unshared information about your business or franchise. Sites like Glassdoor allow current and past employees to report on a company, including listing salaries, reviewing leadership, and critiquing company culture. These days, much of a company’s reputation is either made or broken by such reviews, so it’s imperative to work toward glowing ones.
So to attract and retain top talent, you have to consider your franchise’s environment. Are employees active and engaged? If you’re unsure about your answer, you aren’t alone — many companies are in the same boat. A Gallup poll conducted earlier this year found that 56 percent of employees don’t feel engaged at work, and 73 percent feel actively disengaged. Moreover, 91 percent of employees reported that they left their past jobs due to their employers.
The flip side of good employee engagement sings a much happier tune. Franchises and organizations with engaged employees have a staggering performance rate 202 percent higher than organizations with unengaged staff. Also, by keeping your team happy and active, you’ll see a direct correlation to your franchise’s finances. The cost of replacing a disgruntled employee can range from 30 percent to 50 percent of his or her annual salary for entry-level positions and 400 percent of the annual salary for a high-level employee.
To keep your franchise’s morale high and your bottom line black, incorporate the following steps into your team’s foundation:
Ultimately, the happiness of employees translates to the happiness of the customer. We all know what’s like to see fed up workers — 15 minutes in a Walmart on Black Friday is example enough. Great company culture leads to great customer service, which then leads to happy customers. Happy customers are the customers who not only come back, but also those who spread your business by word of mouth.
Though we aren’t all psychologists, we probably can agree that smiling, happy employees help create a positive experience. Approach all your customers with a positive attitude, ready to address any needs or concerns they may have. Although you can’t please everyone, you can at least avoid a customer having a worse experience as a result of a poor interaction with an employee. Just remember that positivity begins at the foundation of your company, and its genuine atmosphere will resonate with customers. Every business metric goes up when both employees and customers are happy, which will then result in a healthy bottom line.
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