What investing means in status-quo?
If we are to be told that the trends in and of business have changed greatly over recent times, this will not be an exaggeration. Departmental functions have been significantly revised; the conventional blueprint of practices is largely removed and a more inculcated approach to decision making is being taken. If we simply consider the human resources and management department of an organization, we will see how the notion that the task of this department is strictly relevant to recruitment and payroll has been changed. The department, in modern days, is as important in strategizing as any of its counterparts. Similarly, new definitions of various other aspects of life and business have challenged old practices. One of them is the conventional idea of investment. Let it be finance, economics or any other business-related discipline, the standard definition taught to us is that of putting money into something to reap monetary benefits in return. From real estate to stocks, there are a plethora of options that can help make you more money out of what you currently own. However, this notion has started to change. The idea behind challenging the status quo’s definition of investment is to consider other gains instead of just the monetary pursuits as a benefit too.
How is employee satisfaction an investment?
For any business to successfully run and make its mark in the market, it is of immense importance that the customers are satisfied. They generate demand and without them, there is no point of producing a product or generating a service. However, another stakeholder that is equally essential is the employee base. Their productivity and determination to work dictate the quality of the business’s product or service. Therefore, it becomes highly important to keep them satisfied and motivated to work.
There is no denying the fact that monetary compensation, work environment, work-life balance, and fringe benefits to performing the task more so than often; however, it is equally important to acknowledge their work and commend their efforts. This gesture has proven to highly boost employee’s morale, mirroring into increased performance. How does this translate into the investment? A recent trend of corporate awards has taken over the business world by storm. Most top-notch organizations and corporations carry out this annual activity and recognize the efforts of their employees in a grand manner. The recognized employees are awarded mementos that act as a great token of appreciation.
Since the idea is to satisfy employees, it is essential for the business owners and corporations to not slack with such events, no matter what. From the design of these awards, all the way to the inscription, it should prove to the employees that their efforts are deeply accounted for. Crystal awards are a great avenue for choosing the perfect tokens for your employees. These are awards that will be cherished for years. You can give the crystal awards out at award ceremonies. They are usually power-packed with performances and a nice dinner as a sign of gesture.
From the looks of it, the ceremony expects to be “financed.” It is essential to note that these costs are indeed an investment in itself. We have established the fact that it is essential to keep your employees motivated because, one way or another, it ends up benefiting your business. Numerous micro-level researches have shown that any corporation or organization with happy and satisfied employees perform better in the market. Turnover rates from organizations harboring a satisfied employee base are significantly higher than others. The reasons for this are plenty.
- Reduced absenteeism is one of the foremost trends shown by satisfied employees
- They are more prone to collaboration and perform well in a team
- The sense of having high esteem and satisfaction pushes the employees to keep up with their behavior and perform even better
- Satisfied employees are less likely to quit which saves a lot on recruitment
- They put more trust and control in the hands of the organization
These are simply a few ideas of how appreciating your employees can help you, the employer. While it is important to invest your money for expansion and monetary purposes, it is equally important to keep the existing stakeholder party satisfied in order to have a basis for further growth. When a business prioritizes employee morale and satisfaction, it is cultivating a harmonious relationship on both a professional and a personal level.