Take Care of Your People

Many business owners are facing an unprecedented array of problems right now, and it’s hard to know where to turn for some relief. As this pandemic continues to drag on with a firm stranglehold on this economy, does anyone have answers for the wave of complications keeping us up at night? 2022 was supposed to be different, right? Well, so far it’s been more of, or even worse than, the same.

I speak with business owners daily, and I’m often a sounding board for all the frustrations that come with being the captain of the ship. I hear about work-loss, staffing issues, equipment shortages, and usually have little to say that consoles other than that they aren’t alone. These are industry-wide issues, and it doesn’t seem like anyone is immune from East Coast to West. However, I have seen a huge difference in how these companies are dealing with these issues. Work culture is a huge factor in determining whether a company weathers the storm or throws up their hands and calls it quits. Is your crew more likely to say, “We’re all in this together!,” or could you show up tomorrow to find they all left you with it alone?

I came across an interesting article by Sheryl Green titled “How Your Company’s Attrition Rate Could be Impacting Your Business.” In it she says the number one key factor that determines a company’s success during hardship is something we don’t normally consider: the satisfaction of our employees. The article was written just a few days ago as the nation deals with the largest labor shortage in decades, so I was interested to hear her points. She builds a strong case that happy employees are, not just important, but vital to the success of your business.

According to a study conducted by the University of Oxford, employees who are happy with where they work are 13% more productive, are willing to be more flexible, are more understanding when the company has to make necessary changes, and are often willing to sacrifice for the good of the company if need be. The adverse is also true. When employees are unhappy or feel underappreciated, productivity drops, tension between the employer and employee often develops, and it usually leads to a high rate of attrition. Sheryl said this has now become a major focus of Fortune 500 companies who are also having trouble hiring for new positions. First, stop the leak, then fill the bucket back up. They have started to analyze their work culture to make sure they keep all the employees they currently have, and it has done wonders for their bottom line.

Why It’s the Perfect Time to Invest in Your Team and How to Pull It Off

You might be saying to yourself, with so many issues going on this should be way down the list, right? I need my workers to do their jobs, but I also need to hire several more. I don’t have time to stop and institute an employee of the month program. Well, my answer would be those two go hand in hand. Create an attractive job, and you’ll see the difference.

• When you keep good workers happy, they attract other good workers. The latest estimate says that there are over 11.5 million job openings in America right now. So, take a quick look at what you’re offering, and ask yourself a hard question, “Would the kind of employee I want and need choose me? Why or why not?” The hiring competition is fierce out there, and those who are skilled and willing to work are getting snatched up left and right. Your most valuable tool for convincing the best talent to look your way should be honest testimonials from your existing employees. Contrary to popular belief, salary packages are not the only determining factor in job selection. You can even get a raise and still feel undervalued. Some people will move from different states or even take a pay decrease to work for employers who they feel care about them or will be flexible with their needs. Treat your current employees right, and they’ll help you attract others like themselves.

• Make your people feel special. People want to feel a connection and that they’re working for more than just a paycheck. People want to be part of a team and have a common goal. So if they feel like all they’re doing is making the guy in the top office rich and he doesn’t care about them at all, it’s easy to lose interest. Sam Walton turned Walmart into an empire simply by making his employees feel special. Many said you would have never known he was worth billions, especially by the way he treated people. He put on his overalls and drove his beat up Ford pick-up around the country visiting Walmart stores to personally thank cashiers and stockers. Many Walmart employees called him “Papa Walton” because he felt like their granddad, and “granddad” is a lot easier to motivate yourself to work hard for than someone who cracks the whip. Many contracting companies are small enough businesses where you’re interacting with your whole team on a daily or at least weekly basis. It honestly doesn’t take much to encourage – just a kind word, a “Good job,” or a “I appreciate all your hard work,” can mean the world to someone.  

• Take care of people, and they’ll take care of you. As stated above, studies show that people who like where they work and who they work for are more productive, but there’s another benefit too. It’s a weird thing, but people are attracted to happiness. Seeing someone smile makes you smile. Being in a good mood makes problems easier to deal with before they escalate, and all of this translates to your customers through a happy workforce. Business guru Stephen Covey said that the average person has a circle of influence of 200 – 500 people. This is made up of family, friends, fellow church members, etc., and we influence these people more than we realize. This circle is looking to us to form an opinion on things like where we work. So, if you have 10 employees, that’s a potential of 5,000 people who are looking to your employees to see if you’re a company they trust, are happy with, and treat them right. I often advise contractors if they do have a great work culture to share that on social media and other places to give a glimpse of the fun. When this circle of influence sees you taking care of their friends and family, they are much more likely to give you their business as well. I think you’d be shocked at how much more business you could get if your employees just talked about their jobs more often with their circle of friends. Give them a reason to.

I could go on and on with ideas about how to improve or set your work culture over the top, but it’s honestly not that complicated. Don’t force it or make it feel fake, but start looking to change any policy that makes you feel unapproachable or uncaring, and take any opportunity to remind your workers there wouldn’t be a business without them. Remember, things are tough on all of us, not just business owners, but when handled correctly, people with all different job titles will happily work toward a common goal.