30 Nov Happy Employees Can Increase Profits…and Value
Happy employees mean happy customers and clients. An unhappy employee can mean loss of business or worse. How does a business owner create happy and contented employees? It all starts with the hiring process – hire positive people who are qualified and motivated. Then offer a good work environment, plenty of learning opportunities, and as many benefits as your business can afford.
It sounds so simple, but one of the big keys is simply for the business owner to treat employees well, and appreciate their contributions. Some owners expect their employees to have the same dedication to the business as they do. They are not owners and don’t have the same privileges as an owner. In most cases, the business is an owner’s life, whereas the employee has a life outside of the business. It’s important that the owner understands this difference.
In the long run, positive and happy owners have happy employees. But if being a good role model doesn’t do the job with workers who remain negative, your only recourse is to replace them. Reward your people with praise, and every once in a while give them a gift certificate, a dinner or trip for two, or their birthday off – anything to let them know you appreciate their work. It’s an inexpensive way to increase profits and subsequently the increase the value of your business. When a potential buyer checks out your business, talking to a happy employee can seal the deal.