Why Having Happy Employees Can Help Companies Increase Profit 54

Why Having Happy Employees Can Help Companies Increase Profit - letsreachsuccess.com

This is a guest post by Riya Sander- a writer for Carter Capner Law, a progressive, innovative and strongly motivated law firm based in Queensland, Australia. With spending her years working in management, Riya is very delighted to work with aspiring small business owners. Follow her Twitter.

Any business owner knows that profit is the most important part of keeping a company above water. Without a profit, nothing else is possible. But even with the importance of your profit, it isn’t always easy to achieve. You need the help of the entire company to increase sales and grow your business.

Simply hiring a team of employees isn’t enough to get them on board and invested in your company’s profit. While they may show up to work each day and put in the hours, unhappy employees will drag your company right down into the ground. While your first thought when increasing profit may not be to consider the atmosphere of your office, it’s a major key to finding success.

But just how does your employees’ happiness level play into your profit and what can you do to please unhappy workers? This guide will help you out.

Motivating Employees and Your Bottom Line

To begin looking at how to increase business sales, let’s take a look at two different scenarios revolving around potential employees.

First, consider what an employee may do when they’re unhappy in their position.

While they come in to work most days, they probably show up late, leave early, and may take frequent sick days or vacation days. When your employees are out of the office, projects fall behind, other employees need to step in to help, and you’ll have trouble moving forward. If they are particularly unhappy, they may look for a new position and leave your company without much warning.

The days that they are in the office, they aren’t giving their all to their work. They find distractions, complete their work just enough to check it off their to-do list, and they are unwilling to go above average. Their brainpower and talent is lost because they simply don’t care enough about the job to step up. Unhappy individuals are also more stressed at work, which can lead to injury and a workers compensation claim.

But employees that are happy with their job become invested in their work and look for ways to improve their tasks and the company as a whole. They engage with customers and clients and provide insights to more efficient or different ways tasks can be completed. They show up early or on time and are more willing to stay later at the end of the day.

Happy employees are much more likely to stay in their jobs as well. With a lower turn around rate, you are able to create a solid team of workers who mesh well together and play off each other’s strengths and weaknesses.

When you have happy employees, you spend less time and money on training and you can keep your sights on growing your company and your business.

But just how do you turn unhappy employees into happy employees?

How to Improve Your Employees’ Happiness

There are a few things that you can do to encourage and motivate your employees. Here are just a few options to consider.

  • Recognize Their Accomplishments

A major reason employees feel unhappy is because they feel like their bosses and managers are not appreciative of their hard work. While it is their job to complete their tasks, recognize when a particularly great job as been completed. Employees will be more likely to go above and beyond the next time.

  • Give Them Time Away

To help reduce work related stress, give your employees enough vacation time to truly come back recharged and refreshed. Not only will this keep them from sustaining a workplace injury, but it can also keep employees from burning out and feeling unhappy.

  • Provide Feedback

Have an annual employee performance evaluation to cover the work the employee has completed and how they are doing. With these meetings, you and your employee can better understand each other and what is expected of them. Having clear business goals and responsibilities allow employees to feel happier and more satisfied with their jobs.

  • Show How They Can Grow

Employees work for companies that they feel will help them grow, so if you’re not providing growth opportunities for your employees, they will probably feel stuck and leave for something new. Other growth options include education or mentorship opportunities.

If you want to see your business profit grow, you need to start looking at the people who will help you get there. Pay attention to your team, listen to their needs, and do what you can to make them happy in their positions.

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What the Richest People in the World Have in Common 4

What the Richest People in the World Have in Common

Getting rich is something everyone dreams about.

For those facing financial hardships, getting rich seems the only way out to tide over shortage of money. For the bourgeoisie – the working class – getting rich conjures up visions of stuff they want to buy for luxury or higher social status. Millionaires also wish to get rich: they want to become billionaires and enter Forbes List of the world’s wealthiest people.

Unless you inherit a fortune or get lucky at lottery or sweepstakes, getting rich can be quite tough.

Yet, there are countless rags-to-riches stories around the world. Enterprises such as Amazon, KFC, Facebook or SpaceX have become runaway successes within a short span. The reason: their founders have several things in common, which is rare among other people.

Here we look at various traits that the world’s richest and most successful entrepreneurs have in common.

The Common Traits of The World’s Richest People

The Common Traits of The World's Richest People

1. Serving People.

“If your only goal is to become rich, you will never achieve it,” said John D. Rockefeller, who laid the foundation stone for America’s giant petroleum industry and his own enterprise, Standard Oil. The same adage holds good today.

Facebook, for example, was launched by Mark Zuckerberg and his roommate, Eduardo Saverin to allow Harvard University students to share profiles and pictures

There are countless such examples of ordinary people striking rich. However, they share one thing in common: serving people. The main objective of launching these enterprises was to make life easier or enjoyable for people rather than earning money.

2. Reading Books.

Microsoft founder Bill Gates, celebrity TV show host Oprah Winfrey, SpaceX and Tesla CEO Elon Musk, Berkshire-Hathaway CEO Warren Buffet and several other extremely rich people of the world have one more thing in common: they are avid readers.

Bill Gates reads at least 50 books every year – an average of nearly four and a half books per month.

Elon Musk owes his success at SpaceX, the project to open space tourism to his love for books and the knowledge he gained from them about rocketry. Oprah Winfrey attributes her success to dozens of books, including some 70 top titles she read on her way to success while Warren Buffet spends about 80 percent of his day reading books.

3. Long-Term Financial Strategies.

A report by CNBC states, all wealthy people depend upon long-term financial strategies rather than short-term gains. They utilized their earnings and savings to invest in safe stocks that would assure gains in the long run rather than indulging in risky trading that can offer high returns.

Such financial planning and decisions ensured they do not lose money. Further, they invested money in their enterprises without the hope of immediate returns.

These wealthy people first focused on building a brand, offering value for people to identify with the brand. And later, popularize the brand through word-of-mouth publicity, which is more effective than traditional advertising.

4. Never Say Die.

Yet another common character trait shared by the world’s richest people is, they are not quitters.

Like every other human on Earth, these wealthy folks also witnessed ups and downs in life. Some of these were so overwhelming most ordinary people would have called it quits and gone in search of easier ventures.

Brian Chesky, Joe Gebbia and Nathan Bleckharczyk, founders of Airbnb, the world’s largest hotels and accommodations aggregator were plagued with financial problems.

 

Heavily encumbered with debts, bankruptcy was staring at these entrepreneurs in the very eye. Yet, they did not budge. They innovated their service that made Airbnb the world leader in its field today.

Another excellent example is Colonel Harland Sanders, whose recipe for fried chicken was rejected as many as 1,009 times before it was accepted. Col. Sanders is the founder of global chain Kentucky Fried Chicken or KFC.

5. Accepting Criticism.

Most people flee from criticism of any sort. Rather than learning from negative comments arising out of their behavior or work, they take umbrage rather quickly. Yet, they do not bother to amend their behavior or work pattern.

All wealthy people, however, are different. They are willing to be criticized for introducing new ideas or thoughts.

Jeff Bezos, founder of Amazon, rightly says that those who will try and do something new must be willing to draw criticism.

Steve Jobs, founder, Apple, Inc. puts it in even stronger words: “If you want to make everyone happy, do not become a leader; sell ice cream instead.”

The success of Amazon and Apple proves their founders were right when it came to accepting criticism.

6. Out of The Box Thinking.

how regular life looks like and why it won't make you happy

Thinking outside of the ‘box’ or a typical mindset is often impossible for most people. Understandably, because everyone draws their mindset from factors and circumstances they are raised and educated in.

This mindset eventually becomes a formidable fetter for anyone wanting to become an entrepreneur. Generally, most people follow the flock and take professions they falsely believe as best suited for their skills. Others try to follow footsteps of their parents.

The wealthiest people in the world never followed flock or took lucrative professions of their parents.

Mark Zuckerberg’s father was a dentist and mom – a psychiatrist. Bill Gates’ dad was a banker father while his mother was a lawyer.

Despite coming from wealthy families, they chose to follow their passion rather than confine their thinking to the proverbial boxed mindset. Col. Sanders had lost his parents at a young age of six years and had to shoulder responsibilities of his siblings.

Other Examples of What The Wealthiest People Have in Common

As we can see, these qualities or personality traits are common to the world’s richest people. It sets them apart from others. Most of them launched small enterprises with the sole purpose of bettering the lives of people. Their products or services gained popularity because money was never their consideration. Widespread use of their technology, products, and services eventually led them to become wealthy.

These traits are not typical to the US or the western world, as one may mistakenly come to believe. A glance at some richest people in India and elsewhere also reveals, they share the same characteristics with their American counterparts. This amply proves that richest people around the world share something in common, regardless of where they live and flourish.

Another common trait that all rich people share in common is philanthropy.

Since childhood, they believe in giving back to the society and helping the underprivileged. They practiced charity when they were not so rich and continue to donate money for the betterment of the society even after becoming billionaires.

These richest people on the planet never waited to become wealthy. Instead, they were philanthropists since childhood – a trait most other people pathetically lack or try to foist upon themselves to gain popularity.

In Conclusion

It is not easy to become wealthy. Or everyone would become a millionaire. People who do make it to the top have a different way of thinking combined with an undying zest for learning new things and educating themselves.

They do not consider conventional learning at universities as the end of their education. Instead, they try and acquire new skills every day and find ways and means to become better humans rather than focusing on fattening their purses.

The world’s wealthiest people also share one common trait: they are not people pleasers, despite their generosity and willingness to serve the society. Because they know, trying to please everyone will get them nowhere and could mean possible failure.