Achieving growth and success are some of the biggest challenges that startup companies and small businesses need to reach. Without a solid plan and practical strategies, new businesses will have a difficult time surviving the fierce competition. According to a study conducted by Bloomberg, 80% of new businesses fail within 18 months after opening. One of the most common reasons this happens is that they fail to meet customer requirements and preferences. They fail to create a strategy that will entice customers to purchase their products or get their services. As a result, brands don’t stand out, and businesses don’t earn enough to remain profitable.
Looking at these facts, business owners think of better ways to increase customer engagement. Some think of ideas on how they can form and maintain an excellent relationship with their clients. If you want to solve these business issues, you need to know what to prioritise. Some entrepreneurs make the mistake of focusing too much on attracting their clients. Others don’t realise the importance of prioritising their employees, above all else.
Why Businesses Need to Prioritise Employees
Some business owners frown upon the idea of putting their employees over their customers. They believe that it’s better to dedicate most of their time, budget, and effort towards a better customer relationship. Unfortunately, with this kind of mindset, your business will be missing out on a lot of opportunities for growth and improvement. Keep in mind that you need to build an excellent team first before you can deliver impeccable services to clients. If your employees don’t receive the right training, they won’t be able to deliver the results expected of your clients. Their happiness and contentment with your organisation also play a huge role in providing better results for your company.
How to Start Prioritising Your Team
There are simple ways to start focusing on your team to grow your business. You can provide little assistance, such as providing them with cheap accommodation located near your workplace. This way, they don’t need to feel stressed and tired commuting or driving to and from the office. You can also offer to give them pay raises, especially if their projects and campaigns are successful. Here are other reasons on how to prioritise employees’ health and well-being:
- Offer a wellness program for your employees—This allows you to establish a workplace culture where everyone’s health and well-being are prioritised. That may include providing medical assistance, fitness programs, or cash incentives. It will depend on your budget and your team’s preferences.
- Encourage breaks and time offs—Let your employees take a break from their busy schedules. Have them enjoy their time outside of work once in a while. That will help prevent them from getting sick. Aside from this, they will not suffer from mental exhaustion because of stress and pressure. Let them know that they can file for sick or vacation leaves whenever they need it.
- Provide them with high-quality tools and equipment—Employees will perform better if they use high-quality tools and equipment. That is not only about laptops, productivity software, or communication platforms. It also includes their work desks, chairs, and other items that may affect their performance.
- Offer flexible working arrangements—See if you can provide flexible working arrangements. Allow them to work from home at least once a week. Meet with them so you can decide on a better work schedule. Allow them to suggest solutions for better work arrangements.
Prioritising your team’s health and overall well-being may cost a lot of money and business resources. However, you need to focus on providing better benefits to them, especially if you want to achieve a successful business. Keep in mind that your team will be one of the greatest investments you can spend on your company. With a team of happy, well-trained, and satisfied workers, your business will accomplish goals and achieve success.