Investing in Your Greatest Asset

Why are you in business? One of the more obvious answers some may give to this question is to make money. It is obvious that if a business doesn’t make money, it will fail. This is important for many reasons. Through making money and achieving financial success, we are able to provide for ourselves and our families. We are able to provide for those that work in our business. We are able to give back to the communities we are a part of.

We are also in business to serve others. Every business should provide a service that is able to better the lives of its customers or clients. Each business has a mission statement and purpose as to why they do what they do.

These are all good things. We need to make money. We need to serve our customer, stakeholders, and community.

In the race to accomplish these goals however, some businesses overlook an overwhelming truth. This is that the catalyst for organizational success is in the well-being of its people. In today’s business environment and in our journey to find this success, the spotlight on employee well-being has never been more crucial. Employee well-being isn’t just a buzzword, it is strategic and reflects the commitment our organizations have to our greatest asset, our employees.

So how do we invest in our greatest asset and what steps can we take to nurture a culture that cultivates employee well-being?

Why Employee Well-Being Should be our Focus

We should focus on our employee's well-being because it is the right thing to do. Simple enough? Yes. That should be a good enough reason.

Beyond this, happy and healthy employees are proven to be more productive and engaged. For the sake of brevity, let's look into 3 positives of nurturing employee well-being:

1. Increased Productivity and Engagement:

The American Psychology Association conducted a survey in which they found that the majority (93%) of employees who felt valued were more motivated to do their best work. A valued workforce encourages commitment and foster's purpose. Leading to increased productivity and work quality.

2. Retention and Recruitment Magnet:

One of the more prominent trends or workplace pain points my business has the opportunity to assist organizations in is employee retention.

Companies invest time and money into finding the right employees. But how do they keep them?

This year, 87% of HR managers said employee retention is a top priority.

The current job market is competitive. An employer's company culture is a top decision-making factor among job seekers when deciding where to work. Those that invest in employee well-being not only see retention, but also attraction of top talent.

3. Enhanced Resilience in the Face of Challenges:

A sense of community and support within an organization allows its people to better handle stress and challenges. Our world today is full of change and disruption. Our personal lives are also filled with the same. Why not invest in employee well-being so that your workforce is more resilient?

Potential Action Steps to Encourage Employee Well-Being

What steps can we take to encourage employee well-being?

Communicate Effectively:

Clear and effective communication is key to helping employees feel cared for by their employer. Often times, when communication isn't clear, confusion leads to actions or feelings that could have been avoided.

Appropriate transparency in communication increases employee job satisfaction. An article found on BetterUp suggests that employees who believe their employers are being transparent in communication experience 12x greater job satisfaction.

Communicate effectively and inform employees of changes and decisions that directly affect them. It is important to note that only you know what is appropriate and necessary to communicate. Nevertheless, help your people feel valued and appreciated through enhanced communication practices.

Mental Health Support:

My wife is a mental health therapist so she will appreciate this step. Sometimes, employees are experiencing challenges that we may not be able to handle due to a host of reasons. When it comes to mental health, many of us are not professionally trained to assist people or even legally allowed to help.

In APA's 2021 Work and Well-being survey, it was found that 42% of adults who perform manual labor and 45% adults who work in customer service, sales, or entertainment are likely to say that in the past month, mental and physical problems kept them from achieving their goals at work.

Connecting an employee with a mental health professional is immensely important. Of course, this will help with job performance, but more importantly we should care enough about them as human beings to get them the assistance they need. We should all encourage those we are working with to open up to someone they can trust and seek help. It is a sign of strength and something we should promote as much as we can. This is all of our jobs, regardless of rank in the company.

Recognition and Appreciation:

Dale Carnegie principle #2 states in plainly,

"Give honest, sincere appreciation."

Regular acknowledgement and appreciation for hard work and contributions makes a world of difference. Obviously knowing your employees helps with this. Some may need constant acknowledgement while others may not prefer it as much. However, we can show this in ways that align with the varying needs and preferences of employees. Consider the methods below when determining how to show appreciation to those you work with:

• A short note in an email or handwritten on a 3x5 card
• A word of appreciation in passing in the hallway or stopping by the office
• Acknowledgment in a team meeting or email

Whatever method or way you chose to show recognition or appreciation, the most important thing is that you do it. Often times, it doesn't take more than a few minutes. We all have time for that.

How are you going to invest in the well-being of your greatest asset? How will you make your people feel valued? Regardless of how you do this, I am confident it will make a powerful difference. Remember, focus on the people and everything else will fall into place.

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About the Author: 

Ian Mohorn strives to help businesses and people achieve their highest potential all while assisting them to succeed in selling, leadership, engagement, presentations, managing stress and worry, self-confidence, communication and human relations skills. He is President and CEO of SCIE & Associates, LLC which offers Dale Carnegie Programs in Mississippi, Alabama, Georgia and Florida. His mission is to develop and serve all those he works with to the best of our ability. He understands that business clients are more than clients, they are partners. Partners that have trusted him and Dale Carnegie Training of the Emerald Coast with the most of important part of their business: their people.

People. Partnership. Performance.