Blog

The Peril of Low Employee Morale May Be Killing Your Business!

pablo (15)-1.png

This month you turned a profit. Your business is in the black!

But, could your company be doing better? Are your employees happy to come into work?

Employees are the most valuable, and expensive asset. Low employee morale can cost a company money in lost productivity, higher turnover costs, and a damaged reputation just to name a few.

However, increasing morale can easily be done with a few steps.

What motivates your staff?

The way you find this out is by asking them. Money is not the top motivating factor for many employees.

Some value time off, morale events, better work life balance, and working remotely, over increased pay.

Cater your incentive package around what your employees value, not simply what you think they want.

Ask for feedback:

Employees want to feel valued within an organization. They can bring a fresh perspective from their specific job. Asking for feedback not only increases morale, but it helps your business succeed!

Check your competition:

If your competition is paying employees 10% more money, and offering a better benefits package; you need to make some changes.

Don't assume your employees don't know what the competition is up to. You don't want to lose your most valuable resource to your competition.

Ask about their desired career paths:

Not all of your salespeople want to take their career in the same direction. Not all your accountants want to go the same path.

Make sure that employees are in the know when it comes to all advancement opportunities. 

Feel bogged down by the day-to-day administrative tasks of the office? Want to focus on why you went into business in the first place? Contact us today at LUXA Enterprises. We take care of the day of day administrative work, so you can get back to what you do best!

Topics: HR Advice