Want to be 21% more profitable?
Here’s how:
It feels counter intuitive to put Employment Engagement first in your business when there is so much going on for SME businesses:
- Expenses are increasing – Wages, electricity, rent: you name it, it has gone up in price.
- It’s harder to fill roles – Australia’s unemployment rate is only 3.9%
- Cyber attacks are more common
- AI is changing how we think about things
But research proves that highly engaged teams are 21% more profitable than other businesses.
Fortunately, SME owners and managers are in a unique position to build a highly engaged team.
1. Our small teams generally mean that we are closely connected to our teams and the strongest engagement driver is whether employees feel their leaders genuinely care about them. Getting to know your team, gives you more than a great place to work; it gives you a great financial outcome too.
2. We started our businesses with a passion to make a difference. Although there may be days when it feels tough, the purpose keeps us strong. When employees feel that their work has a purpose, they are more engaged. Sadly, in large corporates only 22% of employees strongly agree that their leaders have a clear purpose. Our SME clients score much more highly in this area.
3. When leaders make genuine employee recognition a priority, employees area whopping 40% more engaged. It can include timely feedback on development, acknowledgement of important life milestones, team recognition, etc. Gifts are optional but they don’t have to cost a fortune.
Follow our socials for some great cost effective gifts. So if you would like to improve your profitability, ensuring that you are regularly checking in on your employee engagement is a great place to start. We are here to help and support you and please feel free to contact us on info@impacthr.com.au or call us on 1300 474 672.
