Your team is Your Business’ Greatest Asset!
- March 30, 2021
- Posted by: Morgan Ayres
- Category: Cafe, Grocery, Restaurant, Retail
Many business owners know or believe their team is the greatest asset, and yet do not treat them this way! Often, restaurant, café and retail store owners treat their employees poorly and accept high turnover as an industry standard. Unfortunately, many companies SAY they put their people first, but actually care more about increasing shareholder value at all costs, without regard for the human factor.
The greatest investment you can make is in your people. Your team and employees are the backbone of any successful retail or hospitality business. Disengaged employees cost companies millions in lost productivity each year, as a result of poor performance and high absenteeism. Investing in your people improves performance and increases efficiency. Additionally, developing staff is one of the most effective motivators for retaining them. Show you care by investing in them!
One of the top reasons’ employees leave a company is the lack of development opportunities. Employees can interpret an employer’s unwillingness to invest in training as a disregard for their professional development.
Research shows, there is an economic link between employee satisfaction and company financial performance. A happy workplace culture does translate into better stock returns. Happy Employees = Happy Customers = Happy Shareholders.
At Pinnacle, we love this quote from Richard Branson ‘Train people well enough so they can leave, treat them well enough so they don’t want to’
Your front-line employees know your customers best; they interact with them daily. They also hold many of the answers you need on how to improve customer service and your products. They use your internal tools and systems every day. They further have the solutions on how to improve systems which can save money by driving efficiencies. When you empower employees, you promote engagement you’re your company and brand! They care more and show it! Doing this fosters creativity and innovation in the workplace which is needed now more than ever.
Your team is your most valuable asset – Don’t take them for granted or treat them poorly. They are your best brand ambassadors. Employees who have been pushed to the point where they no longer care, will not go the extra mile. They will not take the initiative to solve problems. They will end up treating customers the same way you treat them.
Instead of focusing on the bottom-line, invest in the people responsible for the bottom-line!
Employees are the heart beat of the company, show you care with appreciation, love, support and development! Build a culture that employees recommend to their friends to join!
Call Pinnacle Consulting today to learn how we partner with businesses and leaders to improve culture, communication and employee engagement!