“The customer is always right” is a century-old saying that businesses have followed for years. Many entrepreneurs have focused on the improvement of their customers’ experience within their company. But now entrepreneurs are shifting their attention to their employees. For what reason? Well, employees are now the backbone of any company.
The age of ‘employee-first’ thinking is now
In this age, every entrepreneur has come to realize the importance of putting their employees first. Not only is this move ethical – employees must be treated as humans, not assets – but it is also a strategic move for any company.
Research studies have found that the standard workplace regimes are not enough to produce productive employees. The key lies in investing in employee relations and satisfaction. Companies who heavily invest in this area are found to have more productive employees than their conventional counterparts. And with these productive workers come greater profits!
Employee training is a necessity
A common misconception of entrepreneurs is that investing in technology will produce better results than investing in human capital. In reality, investing in automatons will most likely lead to higher wages and expenses for the company. In addition, machines alone cannot produce great results, so companies will inevitably need to hire and train workers.
In summary, there is no escape from employee training. While it is true that improving your employee’s skillset is quite expensive, the effects on your company are outstanding. Well-trained and satisfied employees are not only productive, but they are also more engaged with your company.
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Salary is not enough for good employees to stay
Letting go of great employees is difficult for any entrepreneur, not to mention costly. For this reason, entrepreneurs choose to entice their employees and new talents with high salaries and benefits. But, motivation doesn’t always equate to money. In fact, 71% of employees are willing to take a pay cut to secure their ideal job. Employees are clearly not here just for the money.
So, how can you make your employees stay? By putting your employees first, of course! So, instead of offering high salaries and well-being programs, companies should provide autonomy, power, and encouragement to their employees.
Excellent customer service comes from well-treated employees
Well-treated employees deliver the best customer service – this is a fact supported by evidence. A group of Harvard researchers found that customer loyalty and employee treatment directly correlate with each other. On the other hand, a research study by Cvent found that customer retention rate is 18% higher with highly engaged employees.
Not only are well-treated employees highly engaged, but they are also given psychological freedom in dealing with their customers. As a result, they can apply their experiences and interpersonal skills. Most importantly, employees can act accordingly with different situations as rules do not constrain them. For People Exploration, you may visit this website.
The age of ‘Customer-first’ is no longer. It is time for companies to put their employees as their priority. While companies depend on their customers for revenue, the future of any companies lies among your companies.