Happy Employees - Higher Productivity

Strategic Advisor Board

Job dissatisfaction is a common reason for employees to quit their jobs, and the costs of this are high for employers and society as a whole. Likewise, happy employees lead to higher productivity, better morale among staff members, and less turnover.

 

For many people, the workplace is a second home. Their loyalty to a company is only as great as their satisfaction with the work and their colleagues. Indeed, job satisfaction has been identified as one of the conditions that make workers feel part of a team, which in turn drives them to work more efficiently and productively.



Benefits of happy employees


Increasing employee happiness is beneficial to employers because it boosts retention rates, increases productivity creates an overall better working environment, and leads to increased profits. Yet there is more to happiness than just fun things like these.


Higher productivity and better sociability

Studies have shown that happy employees are more productive and more sociable, with higher productivity translating into higher profits, better quality, and reduced turnover. When an employee is happy, they tend to be more willing to go the extra mile for their employer, so the benefits of having happy workers extend beyond businesses. "Studies have also shown that happy employees are 34% more productive compared to their unhappy counterparts. It is because people who have lost their skills and become rusty during a period of unemployment tend to require extra training because they have lost these skills or become rusty during their time out of work. Happy workers, however, are typically better performers from the start."

 

Improved morale and lower staff turnover

Happy employees are more likely to stay with a company for longer, which translates into higher productivity and quality, less absenteeism and sick leave, and reduced staff turnover. It is because happy workers feel part of a team and want to be able to contribute.

 

Improved retention of professional employees

When people are happy in the workplace, they are more likely to commit themselves fully to their job or career path. They are more likely to check company culture before accepting a job offer. If the employer has committed itself to make its employees happy and working towards that end, it will be easier for the employer to retain its best workers.



Lower turnover of key personnel

Happy employees are less likely to quit, so companies have fewer replacements to recruit when key staff members quit or retire. It helps keep the core team intact and increases a firm's chances of being recognized as an employer of choice, which makes it easier to attract new workers."


Reduced staff turnover

Happy employees are also more likely to stay with a company for longer, which translates into higher productivity and quality, less absenteeism and sick leave, and reduced staff turnover. It is because happy workers feel part of a team and want to be able to contribute."


Positive business image

Finally, employee job satisfaction positively affects a company's image – both within the business community and among consumers. Since the quality of a company's products and services depends on its employees' quality, employers that make their workers happy are seen as having better customer service, which translates into increased business."


Reduced absenteeism

Happy employees are less likely to take sick days, which cuts down on costs related to sick leave. When employees feel valued at work, they are less likely to need time off work for personal reasons like holidays or sickness. It means that businesses will save money on overtime and perks such as paid breaks and paid leave.


Reduced recruitment costs

A study by the University of Warwick has shown that happier employees are more likely to be hired, making them easier to recruit for a company. Happy workers also tend to stay with their employers for longer, which saves businesses money on recruitment costs."


Increased customer satisfaction

No matter how good a company is, if customers are not happy, this is reflected in their reviews – both on the internet and among potential future customers. It can mean large amounts of loss for a business, so increasing staff happiness is vital for any company that wants to maintain a good image.



Reasons Why Happy Employees Increases Productivity


The old saying goes, "happy employees produce happy customers, who then produce happy shareholders." So, it only makes sense that employers want their employees to be as happy as possible. There are many benefits of keeping your employees in a good mood, and one of them is increased productivity at work. Here are 5 great reasons why this is the case:


1)   Happy Employees Stay at Work Longer - Happiness has been shown to decrease absenteeism among employees, so the happier you make your employees, the more likely they'll stay for long periods.


2)   Happy Employees are Loyal - Happy employees are more likely to stick with their employer over time than their unhappy counterparts.


3)   Happy Employees Perform Better - Happy employees tend to perform better on average and produce better quality work than their unhappy counterparts. It is because they focus better on the job at hand and bring a higher level of enthusiasm to tasks that they don't enjoy.


4)   Happy Employees Get Along Better with Their Peers – When people are happy, they're usually more liberal with other people's feelings and preferences in order to get along with them. Communication tends to be stronger because the mood is high within an office environment.


5)   Happy Employees Improve Productivity - Happy people try more, persevere longer, and are more likely to be productive in the workplace.



25 Ways to keep your employees happy


People want to work at great companies. They want a good boss, exciting projects, and clear career prospects. People also want to stay happy and motivated – too many ills in the workplace today are because employees aren't happy or doing their best work. Here are the top 25 ways you can make sure your people enjoy their jobs.


Ensure your people feel involved

A great way to keep people happy is to ensure they feel like they are involved in the decisions that affect their lives. When you involve people in decision-making, you get open to feedback and votes from the team. It helps everyone understand the issues better and is a great way of finding solutions.


Try incentives for good performance

Giving employees bonuses for good performance is a proven way of keeping workers happy and motivated. But don't forget about smaller incentives, like gifts for exceptional work or even personal pizza and beer nights.


Create a fair workplace

It's not enough to just give people bonuses, and you need to ensure there is a level playing field. If one employee is being paid the same as another but doing much more, they are likely to be unhappy. It can lead to problems further down the track, so it's important to ensure everyone is getting a fair amount of pay for their contributions.


Be kind to employees

It is a simple thing, but it can go a long way – being friendly and kind to your employees is a great way of keeping everyone happy… and happy people are more likely to give their all at work.

 

Keep an open relationship with your team

If your people don't know what you are thinking or doing, they will feel like they have lost control of their lives at work. Keeping your team informed and feeling like they have some control over their future is a great way of keeping people happy.


Ensure the teams are not too big

Working in a large team can be hugely stressful and demotivating. It's important to keep teams small enough to get involved in diverse projects, but this doesn't mean you should throw together any group of workers you can find – people want to feel like they belong to a community at work more than anything else… and that's exactly what happens when you keep teams small.


Respect your team members

Respecting your employees is another way of keeping them happy. It can be as simple as making them feel like they are more than just workers. Some managers treat their team like faceless cogs in the company machine, but by treating them with respect and dignity, you are going a long way to keep people happy at work.

 

Provide a welcoming environment

If you want happy employees, you need to provide a welcoming environment. It might involve having good leave policies or even just being friendly and kind. You should never treat your staff like robots – making them feel welcome is a great way of keeping them happy.

 

Keep the team in touch

It's important to connect with your employees regularly to keep them informed about developments and progress. Some companies send out e-mails with new jobs, but it's nice to make sure you talk weekly as well.


Don't forget your mission

Make sure everyone is aware of what the company's goals are. If they know why they are doing their job, they will be more likely to enjoy it (and do it better). You can also make sure your mission is alive and motivating by updating it regularly.


Train your people

One of the best ways to keep your employees happy is to make them feel good about their abilities and the training they receive. It takes a great deal of planning and attention, but it goes a long way in ensuring they feel like they are at work.


Show some flexibility

If you expect all of your employees to be the same, you will be disappointed. Great companies are ones where staff is encouraged to try new things, use new skills, and learn new things, and being flexible means employees feel like they can grow with the organization and still be happy.


Find out what motivates your people

It is important to do because knowing what motivates your people will help you find a way to keep them happy. If you know your people have a certain hobby or interest, it may help inspire them to work even harder for the company.


Don't take things personally

Personal disagreements and issues can lead to a lot of problems in the workplace. It's important that you don't take your employees' issues with you – if they are unhappy, let them know it's not because of anything you've done.

 

Encourage social interaction

If your people feel like they don't have enough opportunities for fun, this will most likely be a problem for them. Let them know there is time for socializing in the office. If you've implemented some of the other changes we've mentioned, then this should be easy – e.g., pizza night, get-togethers after work or Friday afternoon drinks on the beach… or whatever works best for your team!

 

Don't micromanage

It's important to allow your people to work in the way that suits them best. If you tell them how to do things, they will resent you for it and probably won't enjoy their work – if you give them freedom and trust, they are much more likely to love what they do.

 

Be clear about performance expectations

If your employees know how well they have to perform, they will be happier and more productive. Make sure everyone knows what the goals are and how well they have to perform in order to reach them. It is an effective way of keeping your employees happy… as long as they can achieve their goals!

 

Give the teams a sense of purpose

Giving your employees a sense of purpose isn't having a mission statement or even saying anything about their work. It's about giving them something to focus on other than their job. If you ask people what they do, they tend to say, "I'm just there to get paid." The best way is to find out what the employees want to do with their lives – then dedicate resources and help them achieve it.

 

Create a friendly peer atmosphere

If you want to keep people happy at work, you need to create a friendlier environment. Allowing everyone to get involved in the decision-making process and team activities can make a huge difference – it's all about making employees feel valued and accepted.

 

Celebrate the wins

Every time your employees achieve something, make sure they know they have earned it. Even if you didn't give them anything that day, make sure you acknowledge them for their efforts – this is an effective way of keeping your team happy at work.

 

Be positive

Be sure to think positively. If you keep your team on a happy and productive note, they will stay that way. There is no need to burst into song every time you walk into a room, but you should make sure you are continually communicating positivity in the workplace. There is no need to be all sunshine and roses – but don't think things are always bad either!

 

Don't be quick to criticize

Criticizing your employees too often can make them feel like they are being criticized for doing their job wrong. Always try and find ways of improving any areas of improvement without being rude or condescending – it will go a long way to keeping your people happy at work.


Appreciate your people

If you want to keep people happy, then make sure you are happy with their work. If they are not meeting your expectations, address the situation. Don't feel like you have to be friends with your employees but try and establish a good working relationship – this keeps workers motivated and makes life easier for everyone!

 

Don't underpay your staff.

It's important that employees are paid what they are worth, especially if they work hard and do a great job every day. If you pay them unfairly or underpay, it's likely this will cause stress and unhappiness.

 

Set clear expectations

It's important that everyone knows what they can expect from each other in terms of responsibilities, deadlines, and tasks. This makes sure everything runs smoothly and keeps people happy!


Do you feel like you are struggling with putting "strategy" and "business growth concepts" in place that make a difference? Doing it all is overwhelming! Let’s have a honest discussion about your business and see if the Power of 10 can help you. Click “HERE” to have a great conversation with our team today.


Written and Published By The Strategic Advisor Board Team
C. 2017-2021 Strategic Advisor Board / M&C All Rights Reserved

www.strategicadvisorboard.com
 / info@strategicadvisorboard.com

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In the complex realm of modern business, there exists a perpetual balancing act a delicate equilibrium between profit, ethics, and social responsibility. It is a realm where financial success meets moral compass, and where the pursuit of self-interest converges with the greater good of society. This article embarks on a journey to unravel this intricate interplay and explore how businesses navigate the sometimes-turbulent waters where profit motives, ethical considerations, and social responsibility converge. At its core, the balancing act we explore here is about harmonizing two seemingly contradictory forces: the relentless drive to maximize profits, often seen as the lifeblood of any enterprise, and the ethical and social responsibilities that guide businesses toward a more sustainable and compassionate path. It is about understanding that success in the modern business world is no longer solely defined by financial gains but also by the positive impact a company has on its stakeholders and the broader community. In a world where consumers, investors, and employees increasingly demand more than just profits from corporations, understanding and mastering this balancing act has never been more critical. So, join us on this enlightening journey as we dissect the intricate dance between profit, ethics, and social responsibility, and uncover the blueprint for creating a business world that thrives while making a meaningful difference. Profit vs. Ethics At the heart of the balancing act in business lies the tension between the pursuit of profit and the imperative of ethical considerations. This tension has been a hallmark of the business world for centuries, and it continues to shape the decisions and actions of organizations large and small. The Pursuit of Profit Profit is often viewed as the primary goal of business. It's the financial engine that drives growth, innovation, and sustainability. Businesses exist to generate revenue and provide returns to shareholders, and this drive for profit can sometimes lead to a singular focus on the bottom line. Ethical Dilemmas in Business Yet, the pursuit of profit is not without its ethical challenges. Businesses frequently face dilemmas that force them to consider the moral implications of their actions. These dilemmas may include issues such as: Labor Practices: Decisions related to fair wages, working conditions, and employee rights can test a company's commitment to ethics when they intersect with profit considerations. Environmental Impact: Balancing profit with environmental responsibility is a common challenge. Companies must decide how to manage their ecological footprint while remaining economically viable. Consumer Welfare: Ethical questions arise when it comes to product safety, marketing practices, and fair pricing. Companies must weigh these considerations against profit margins. Balancing Profit and Ethical Considerations The key to success in navigating the profit vs. ethics conundrum lies in finding a balance. Businesses that excel in this area recognize that profitability and ethics are not mutually exclusive. Instead, they understand that ethical behavior can lead to long-term profitability by fostering trust, enhancing reputation, and attracting socially conscious customers and investors. Social responsibility in business In today's interconnected world, businesses are increasingly expected to operate with a sense of social responsibility. This concept, often referred to as Corporate Social Responsibility (CSR), transcends the traditional profit motive and emphasizes a company's obligations to the broader society in which it operates. Understanding Corporate Social Responsibility (CSR) Corporate Social Responsibility (CSR) is a voluntary commitment by businesses to act ethically and contribute positively to society beyond their primary profit-making objectives. It encompasses a wide range of activities and initiatives aimed at addressing social, environmental, and ethical issues. Key aspects of CSR include: Environmental Stewardship : Implementing sustainable practices to reduce carbon footprints, conserve resources, and minimize environmental impact. Community Engagement : Engaging with local communities and supporting social initiatives, such as education, healthcare, and infrastructure development. Ethical Governance : Ensuring transparency, accountability, and ethical behavior within the organization, including fair treatment of employees and ethical supply chain practices. Philanthropy : Donating a portion of profits to charitable causes or organizations, either through financial contributions or in-kind support. Impactful CSR Initiatives Businesses engaging in CSR initiatives can create a positive impact in various ways: Enhanced Reputation : Demonstrating a commitment to social responsibility can enhance a company's reputation, fostering trust among consumers, investors, and stakeholders. Attracting Talent: Companies known for their social responsibility tend to attract top talent who are passionate about working for organizations aligned with their values. Competitive Advantage : CSR initiatives can be a source of competitive advantage, as socially conscious consumers increasingly prefer brands that align with their values. Risk Mitigation : Ethical behavior and responsible practices can help mitigate legal, regulatory, and reputational risks. Integrating Social Responsibility into Business Mod els Successful CSR initiatives are not mere add-ons; they are integrated into the core business strategy. Companies that excel in social responsibility go beyond one-off philanthropic gestures. They embed ethical and sustainable practices into their operations, products, and services. Challenges and Ethical Considerations As businesses strive to balance profit, ethics, and social responsibility, they encounter a spectrum of challenges and ethical dilemmas that demand thoughtful navigation. These challenges underscore the complexity of the balancing act and the need for conscious decision-making. Ethical Challenges in Pursuit of Profit Short-Term vs. Long-Term Gains : One of the fundamental ethical dilemmas is the trade-off between short-term financial gains and long-term sustainability. Businesses may be tempted to prioritize immediate profits, potentially at the expense of long-term environmental, social, or ethical consequences. Cost-Cutting vs. Fair Labor Practices: Striking a balance between cost-cutting measures and maintaining fair labor practices can be challenging. Ethical concerns arise when businesses seek to reduce labor costs through practices that compromise worker rights and well-being. Transparency and Accountability : Ensuring transparency in financial reporting, supply chain practices, and corporate governance is an ethical imperative. Businesses must grapple with the ethical dilemma of balancing the need for transparency with protecting proprietary information. Balancing Short-Term Gains with Long-Term Sustainability The tension between short-term gains and long-term sustainability is a recurring challenge. Ethical businesses recognize that prioritizing sustainability, even if it involves initial costs, can yield long-term benefits. However, the pressure to deliver immediate financial results can create ethical conflicts. Reputation Management and Ethical Crises Maintaining a strong ethical reputation is vital, but businesses can face ethical crises that tarnish their image. Ethical considerations must guide crisis management strategies to regain trust and credibility. Complexity of Supply Chains Global supply chains often involve multiple stakeholders and regions with varying ethical standards. Businesses must grapple with the challenge of ensuring ethical practices throughout their supply chains, addressing issues like child labor and environmental degradation. Ethical Decision-Making At the core of these challenges is the need for ethical decision-making. Businesses must establish clear ethical guidelines, codes of conduct, and decision frameworks to navigate complex situations where profit and social responsibility intersect. Striking the right balance between profit, ethics, and social responsibility requires vigilance, commitment, and a long-term perspective. It demands that businesses prioritize ethical considerations not as an afterthought but as a core element of their business strategies. The following sections will delve into successful case studies and emerging trends that showcase how businesses can overcome these challenges while upholding their ethical responsibilities. Future trends The landscape of business ethics and social responsibility is continually evolving, shaped by changing societal values, technological advancements, and global challenges. To stay ahead in this dynamic environment, businesses must anticipate and adapt to emerging trends. Here are some future trends that will influence the way companies balance profit, ethics, and social responsibility: Evolving Business Paradigms Purpose-Driven Business: The trend toward purpose-driven businesses is expected to intensify. Companies that prioritize a clear sense of purpose beyond profit will resonate more with socially conscious consumers and investors. Stakeholder Capitalism : Businesses will increasingly adopt a stakeholder-centric approach, recognizing that they have responsibilities not only to shareholders but also to employees, customers, communities, and the environment. The Role of Technology and Globalization Ethical Tech : The technology sector will face increased scrutiny regarding ethical considerations, data privacy, and the responsible use of artificial intelligence. Ethical tech practices will become a competitive advantage. Supply Chain Transparency : Advancements in blockchain technology will enhance supply chain transparency, enabling consumers to trace the origin and ethical practices associated with products. Emerging Trends in Social Responsibility Environmental Sustainability : Climate change mitigation and environmental sustainability will remain at the forefront of social responsibility. Companies will be expected to set ambitious sustainability goals and reduce their carbon footprint. Diversity, Equity, and Inclusion: Companies will continue to prioritize diversity, equity, and inclusion in the workplace, with a focus on closing gender and racial gaps in leadership positions. Social Impact Investment: Social impact investing, where investors seek both financial returns and positive social or environmental impacts, will gain momentum, influencing corporate decision-making. Ethical Supply Chains Circular Economy: The transition to a circular economy, where resources are reused and recycled, will become a standard practice for businesses seeking to reduce waste and environmental impact. Ethical Marketing and Transparency Authentic Branding : Authenticity in marketing will be crucial. Consumers will demand transparency and honesty in advertising and branding efforts. Sustainable Packaging: Ethical packaging choices, including recyclable and biodegradable materials, will become more prevalent as consumers prioritize environmentally friendly options. Regulatory Changes Tightening Regulations: Governments and regulatory bodies are expected to introduce more stringent regulations related to ethical business practices, requiring greater compliance and transparency. Employee Well-Being Work-Life Balance : Companies will prioritize employee well-being, offering flexible work arrangements and mental health support to address work-related stress and burnout. Adapting to these trends will be essential for businesses aiming to thrive in an increasingly conscious and interconnected world. By embracing these shifts and integrating ethics and social responsibility into their core strategies, companies can not only navigate the evolving landscape successfully but also contribute to a more sustainable and responsible global business ecosystem. Conclusion In the intricate dance between profit, ethics, and social responsibility, businesses find themselves at a pivotal crossroads. The challenges are abundant, the dilemmas are complex, but the imperatives are clear. This exploration has illuminated the fact that the pursuit of profit does not have to come at the cost of ethics or social responsibility. In fact, businesses that strike a harmonious balance between these elements can thrive in a rapidly changing world where consumers, investors, and stakeholders demand more than mere financial returns. The future of business lies in embracing emerging trends that underscore the significance of ethical behavior, social impact, and sustainability. Purpose-driven businesses, stakeholder-centric models, and the responsible use of technology are set to redefine success. Ethical considerations, from diversity and inclusion to supply chain transparency and environmental sustainability, will shape corporate strategies and decisions. As the world becomes more interconnected and information flows more freely, authenticity, transparency, and accountability will be non-negotiable. Are you ready to navigate the complex interplay of profit, ethics, and social responsibility in your business? Contact Strategic Advisor Board today to align your business strategies with ethical practices and social responsibility, ensuring a sustainable and successful future in the modern business landscape. Let's make a meaningful impact together! This article was brought to you by: Jason Miller, AKA Jason "The Bull" Miller, Founder/CEO and Senior Global Managing Partner of the Strategic Advisor Board - What has your business done for YOU today? The Strategic Advisor Board is designed to help you get over, around or through so you can reach your next goal. That is what we were built for and we are really good. Just reach out and touch us here to setup a call and have a quick conversation with our team today. Written and Published By The Strategic Advisor Board Team C. 2017-2023 Strategic Advisor Board / M&C All Rights Reserved
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Inventory management has improved as AI enhances the forecast of its needs based on past data and trends. This greatly reduces food wastage and assures the availability of popular items. Moreover, AI further monitors equipment performance and predicts when maintenance should be performed. This prevents service disruptions and ensures a smooth flow of operations. The proactive approach of AI allows restaurants to deliver constant quality service without experiencing sudden system downtime, further enhancing the reliability and experience of dining out. AI-Enhanced Customer Feedback Mechanisms AI is changing the way restaurants handle guest feedback and improve their service. AI tools automate real-time feedback, collecting, capturing, and analyzing it instantly. This allows restaurants to take immediate action on issues and often prevent them before a customer leaves. Beyond this, AI can automatically analyze online reviews for important insights into customer satisfaction and where improvements need to be made. Moreover, AI systems handle follow-up communications, personalized responses, and reinforcement of positive experiences that assure you your opinions mean something. This approach not only builds loyalty but also encourages you to return, knowing your feedback will be valued. Seamless Integration and Strategic Benefits of AI The real power of AI in restaurant customer service lies in its seamless integration across all touchpoints. AI improves the customer experience through immediate responses and personalized engagement, freeing the staff from personal attention to detail that will make experiences memorable. It drives operational excellence by predicting customer trends. It operates effective inventory management and schedules staff appropriately to match demand in real time for seamless service and consistent levels of customer satisfaction. In addition, AI can analyze large volumes of customer data and provide restaurants with meaningful insights to tailor their offerings and promotions more effectively. Integration not only enhances operational efficiency but also supports business growth, ensuring that the dining experience remains enjoyable and well-managed. Comparison: Traditional vs. AI-Powered Restaurant Service To better understand the impact of AI on restaurant customer service, let's compare traditional approaches with AI-powered solutions:
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