The studies are conclusive. Companies with a happy workforce can be 400 to 1,000 times more profitable than organizations that have an unhappy workforce. No, that’s not a typo: 400 to 1,000 times. That’s a huge difference that can be made simply by treating your employees well.
Or perhaps it’s not as simple as it seems. Many companies recognize that an employee’s happiness is important to corporate culture. Smart executives understand that when employees are happy, they are more productive, less disruptive, and less likely to leave. Employee turnover and a “poor me” attitude spread around the water cooler can get a company stuck in the mud. So to promote positive culture change, many companies look for ways to improve employee morale. More often than not, companies start by implementing a reward system for good work.
Rewards can be great motivators, but a gift card alone for a job well done isn’t enough. Here are three ways you can successfully transform work culture in your business:
- Invite Feedback
Often executives recognize that their employees are dissatisfied, but don’t fully understand why that may be. Getting feedback from your employees, whether through private meetings or anonymous assessments, is a great way to find out what really makes your organization tick and to generate ideas to help your company move forward. The motivations of employees in one company versus another are always a bit different. Don’t assume you know what your employees want without asking them.
- Get Your Employees Involved in Strategic Planning
Executives often feel like developing a strategic plan is their sole responsibility, but this is not the way things should be. Take a step back and consider: would you rather have a blind order handed down to you or work with a team to choose a direction together? In either case, an objective is going to be worked toward, but if your employees have a chance to participate in the goal setting process, they’ll be much more motivated to do their part.
- Learn the Difference Between Rewards and Recognition
A recent Forbes article discusses the difference between rewards and recognition. Rewards can be a great tool for motivating employees, but providing a reward is not a replacement for acknowledging good work when it is done. Encourage a system in which your managers and supervisors recognize good work when it happens in a timely, authentic, and appropriately-scaled manner.
For more information on how you can implement positive changes that will transform work culture in your organization, contact our team.