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Business Times Column

by Marcus

Does Your Business Generate Happiness And Revenue?

The average American worker spends 104,000 hours on-the-job over the course of a typical 50 year span in the workforce. This equates to 13,000 eight-hour days, or 16.6 years of their life, that is spent away from their family as they work to make a living. There is no doubt that many more workers and business owners expend significantly more of their lives than this performing their job-related duties.

Given these staggering numbers, isn’t it easy to see just how important it is to make sure that fulfillment and happiness are just as consistent as a paycheck? The workplace is a second home for your team members. If human enjoyment and contentment are not encouraged and supported, no amount of money will inspire workers to give their very best for long. Financial rewards only go so far in bringing out the best in people.

Average companies of all sizes have a lot they can learn from sophisticated business models that understand the incredible power of fostering ongoing job satisfaction. When team members enjoy coming to work, they are more efficient and productive – they produce higher quality products and deliver superior customer service. In addition, business owners experience far less turnover. In other words, satisfied and happy workers contribute their abilities to the business at a much higher and more consistent level which, in turn, leads to increased revenues. Everyone wins!

Without a doubt, businesses are always looking to get the highest possible return on their investments. One well-known Colorado company found that when they provided a place to exercise and access to healthy foods, they realized a whopping 619% return per every dollar invested. This is simple math that leads to an undeniable conclusion: Investing in your people – their fulfillment, well-being and happiness – is good business. Even if your return was only half this good, you would still realize over a 300% return! What business owner wouldn’t like those numbers?

To begin, a positive and healthy work environment starts with effective leadership, and leadership is most effective when it comes from a place of mentoring and empowering team members to personal greatness. Being a “boss” is quite different from being a “mentor”. When leaders embrace the constructive power of mentoring, it is encouraged and supported company wide. A culture of coaching is created and the collaborative spirit thrives. Let’s take a closer look at the qualities embodied by effective leaders:

  • Effective leaders understand the necessity of hiring and developing empowered and capable managers. Across the board, poor management is one of the leading causes for costly turnover in companies. Managers who can mentor their team members foster strong working relationships through effective listening, clear communication, support, encouragement and accountability. When people are managed in this way job satisfaction increases.
  • Effective leaders acknowledge the overwhelmingly positive impact properly selected team members have on company culture and performance. Hiring team members through a well-defined and proven strategy, such as Job Benchmarking, brings aboard those individuals who are best suited to perform and enjoy their particular job at the highest level.
  • Effective leaders realize that learning, growth and development are a process that requires consistent training over an extended period of time. High quality, ongoing training and development programs performed by an outside professional, that are designed to closely evaluate and remedy any gaps in the talents, skills, motivators and behaviors needed to maximize on-the-job performance and satisfaction are best. The illuminating power of these coaching and consulting programs assist companies in creating a supportive and encouraging environment that contributes to the happiness of its team members.
  • Effective leaders know that rewarding staff with sincere praise and recognition is often more powerful than merely giving them a raise. All people need money to live, but even more important than that, everyone needs to feel accepted, valued and appreciated; to know that their work and their lives are meaningful.

You don’t have to make huge investments in a fitness facility and a cafeteria to create a positive, supportive and encouraging work environment. There are many other options available to assist you in building a company culture that believes in and endeavors to empower your team members to personal greatness. Start today by seeking out the help you need to discover where you can add to the fulfillment and happiness of your team, and yourself, and take the action steps needed to make necessary improvements. In return, you will be rewarded with a company that rises to new heights.

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This article was written for and published in collaboration with The Business Times newspaper.

Access the article here.