In this digital age, it’s no surprise that businesses are turning to online resources to aid their success. Webinars, social media marketing and blogging can provide your company with a ton of effective ways to network and connect with potential customers, but have you tapped into the power of listening?
Listening is one of the most important factors in personal development and success, but it must be made a priority across the entire company. Listening to your employees’ needs can have numerous positive effects on your business growth. What are some ways listening to my employees’ needs can boost my business growth?
Better Communication and Understanding of Each Other and Company Culture.
Employees are not just robots, whose sole purpose is to perform their job. They are individuals with emotions, needs, and ideas. If you create a supportive environment for your employees they will show gratitude towards their company by boosting productivity.
As an employer, it’s your responsibility to provide this to your employees without reminding them that the purpose of the job is to earn money. You can even build a survey to create an open communication system with them. As a wise man once said that employees are like plants; if you don’t water them they will die, but if you do take care of them they will grow and give back what has been given to them.
Higher Productivity
Employees who feel heard, acknowledged, and respected will not only be more productive at work, but also happier, less stressed, and healthier. The positive impact on your staff’s morale is bound to reflect an increase in their productivity rate.
One of the benefits of improving your employee’s productivity is that it will reduce your turnover rate, as employees who are less stressed and more satisfied with their role in the company tend to stay longer.
Higher Satisfaction
When employees are not satisfied with the way they are treated at work, they most likely will be less productive, which is bad for your business growth due to a lower productivity rate. However, there are great chances of increasing your business growth through higher satisfaction after listening to what your employees have to say and taking action on them.
When you listen to your employees, you can increase their satisfaction in several ways. First, if you care about the needs of your employees and consider their suggestions when making decisions for your company, they will certainly feel more appreciated than when they do not get such treatment.
Second, your employees will feel more appreciated and recognized when you offer them the opportunity to voice out their ideas and suggestions with regard to future business plans or company policies.
When it comes to how to successfully implement such ideas, make sure that you take a step-by-step approach and prioritize your employees’ requests (based on the level of urgency) if you are planning on tackling them all at once.
Build Trust and Employee Loyalty.
Listening to your employees helps build trust and loyalty among co-workers. Employee loyalty is important for business growth because it encourages workers to stay with the company, which reduces turnover rates.
Turnover can cost companies up to 20%-50% of an employee’s salary when they leave the organization, so reducing this number helps companies remain financially stable over time. When employees know their voices are being heard, they will be more engaged in their work and likely stay with the company longer.
Showing You Care and Appreciation.
When employees feel undervalued, they are more likely to leave the company in search of better opportunities. However, when employers show that they care about their employees personally and professionally, it can have a big impact on retention rates. For example, one study found that 69 percent of surveyed job seekers would take a pay cut if they were offered a more satisfying environment. This means that if employees are feeling fulfilled at work, they are less likely to leave the company in search of greener pastures.
Employers often face difficulty in striking up conversations with their employees about their personal lives. However, there are many easy ways employers can show that they care about their employees’ personal well-being.
For example, if an employee mentions that they are looking to purchase a new car, the employer could show interest in how the research process is going and offer assistance so long as it does not take away work time or resources. It can also be beneficial to compliment employees on how they look or dress. As long as an employer is not crossing any boundaries, small compliments are often welcomed.
As a business owner, there are many skills that you will need to master in order to ensure the success of your enterprise. Although other aspects of running a business can certainly be crucial, one area to focus on is listening to your employees.
Many business owners fail to realize the importance of listening to their employees and as a result, they don’t get the most out of their workforce. If you want to ensure that your company is running as effectively as possible, it’s absolutely vital to listen to what your employees have to say. Overall, employers should always strive to listen to their employees’ needs and concerns in order to ensure that the work environment is conducive for happy and productive employees.
