Arguably, your employees are your business’s most valuable assets. When your employees feel valued and like they’re an integral part of a dynamic team, they’re likely to wow your customers by going above and beyond. As a business owner, you need and want to recruit the very best talent to support your customers, and that starts with nurturing and engaging your existing employees.
Three Critical Words: Word of Mouth
The days of recruiting specialized, professional employees via newspaper classified ads are largely behind us. Thanks to social media, many of your best leads are likely to come from your current employees. If that is, your current employees are happy.
Engaged Employees Are Most Likely to Become Loyal Employees
It costs far more to hire a new employee than to retain exemplary employees you already have. According to the Society for Human Resources Management, it can cost nearly $40,000 to replace an employee whose annual salary tops $60,000. The numbers don’t lie: you’ll save money on recruiting costs by ensuring your current employees love their jobs.
Challenged Employees are Better Leaders
Whether it is or is not a reality in your business, the “glass ceiling” perception is pervasive. Employees of both genders and every age range often reach a point in a particular job when they conclude they can no longer advance to a higher level. Driven to succeed, they move on to a new opportunity. To stop this cycle in your business, offer valued employees leadership training opportunities that will engage them and show them you want them to rise through the ranks. Online leadership training programs such as A Better Leader create positive, optimistic work environments and stellar, loyal employees. What’s more, they can be a snap to administrate, and incredibly affordable.
Candidates Take Their Cues from Current Employees
If your current employees aren’t happy, they may do more than commiserate at happy hour after work. More and more, they’re taking their grievances public – cloaked in the comfort of anonymity. Check out Glassdoor.com It’s a website that, among other things, hosts anonymous reviews from employees about their employers. Odds are high that at least some of the job seekers you’re wooing have heard of it and give it credence. Engaged employees won’t have a reason to post damaging online reviews of your company.
Your Team is only as Strong as Its Weakest Player
Happy employees equal less turnover. Less turnover means that your team is able to work together effectively and that when recruitment is necessary, it’s immediately apparent which candidates will be a fit. Lack of engagement leads to a revolving-door effect and lowers morale and productivity. It’s a vicious cycle that leads to more frustration and more loss of talent. As an employer, it’s in your best interest to invest in your people and to train them, challenge them, and nurture them. You’re the boss, but your business is a collaboration.