How Disengaged and Dissatisfied Employees Are Costing Your Business Money
Whether it’s the culture of the business or improper health care insurance for your employees, there are several ways in which unhappy and dissatisfied employees are costing your company a substantial amount of money.
It’s important to first understand how it’s causing your business money before you can figure out how to change it. Let’s first look at some of the issues that are causing disengaged employees and then talk about how you can stop losing money and create more productive employees.
Low Company Morale
Aside from monetary compensation, the overall company morale is what incentivizes your staff to want to show up at work each day. It’s crucial to keep positive company morale by engaging your employees, despite where in the world they work or if within the office. One of the main factors that many employees tend to share that impacts their work environment is communication amongst their teams.
Let’s face it: Your employees are on their phones throughout the workday. Especially with people who work remotely, there are opportunities to pick up their phone and scroll through social media or take personal phone calls.
But what if you could leverage the use of their mobile device to both you and your employees’ advantage? Many companies have started utilizing SMS text messaging for internal communications. It’s an easy way to stay in contact with your employees, keep them updated on upcoming staff meetings, and even send out company-wide messages to recognize and show appreciation for exemplary staff.
By staying in touch, you are impacting the overall way your business runs. You have easy access to check in with your employees to learn about any feedback they might want to provide or even send out a message to everyone that it’s time to get up from their desk and take a five-minute break. Wellness is incredibly important when it comes to the overall productivity of your employees, and SMS text messaging can easily help.
Lack of Productivity
A recent study showed that 21% of employees come to work simply to receive a paycheck at the end of the pay period. This means these people are coming to work looking to do the bare minimum.
They avoid going above and beyond their given responsibilities and instead stick to what they are supposed to do. Plus, they may not be providing your team with the exemplary work you need. If this is the case, their lack of productivity is probably costing your company thousands of dollars each year.
Lower productivity rates end up lowering your overall profits an entire 15%, according to a report by Forbes. This doesn’t account for the 37% increase in sick days that are being taken. Employees are not properly caring for themselves since they are dissatisfied with their jobs which have then leaked into their personal lives.
Other workers want to use up all of their paid time off, plus some, just so they do not have to show up for a job they don’t like being at in the first place. Regardless of the reasoning, your disengaged employees are losing your business substantial revenue and increasing expenses.
Productivity is greatly tied into several factors of how your business runs. This includes:
- Company Culture
- Work-Life Balance
- No Room for Growth
- Poor Benefits
To increase the productivity of your employees, you need to take a look at where the holes are. Ask for feedback from each of your employees to find out what isn’t working. It could be tools they don’t have to properly do their job or the inability to have a flexible work-from-home policy.
Be ready and willing to acknowledge new ideas. Innovation and change can lead to healthy employees and increased revenue overall.
At the end of the day, it’s important to take note of the two main factors that are costing your business money due to disengaged employees. It stems from low company morale and a lack of productivity. Each impacts the other. If you can take time to learn from your team, you will have a better chance at reversing the damage that has been done and moving forward both with happier employees and a more successful business.