A recent article published by Karolina Hobson in Forbes gives the top 5 reasons why employees are a company’s greatest productive asset:
1. Your people are your biggest resource and can affect public perception of your brand. When a company communicates appreciation for its employees, those employees, in turn, are likely to appreciate the company. According to Gallup, they also tend to demonstrate increased productivity and loyalty.
2. Your employees are your brand ambassadors — the face of your company. If your employee retention is low and tenure is short, new client acquisition may prove to be more difficult.
3. Retraining, recruiting and rehiring are expensive. It is costly (and not very cost-effective) to continually recruit new employees, spend money on job posting sites or pay head hunters to find staff. According to the Society for Human Resources Management, the average cost per hirein 2016 was $4,129. Every new employee will also have a lower productivity period until they learn the ropes.
4. Employee turnover is costly in terms of valuable resources, but it can also affect morale in both current employees and clients. Employees may begin to question the quality of the workplace environment, as well as their own prospects for employment longevity. When clients see new faces too often, they may lose that personal connection with your staff and, naturally, may come to wonder why your company cannot seem to retain its employees.
5. Value your employees and staff, and you can increase your company’s profitability.
