When employees thrive, the company thrives – making it critical that leaders put their people first. After all, people are at the heart of every organization!
Leaders who spend time boosting their employees’ spirits will lead a company to incredible growth, while others will experience the consequences of low morale. Take time to learn the causes of low employee morale before the effects catch up to you.
Why employee morale is important
Companies lose their edge by ignoring employee well-being, culture, and alignment. They often struggle to attract and retain top talent. At the same time, leaders that pay close attention to their employees’ well-being see them become more productive and engaged. These companies have the team spirit and engagement needed to persevere through times of struggle and major events.
Mineral’s recent study looked at the connection between morale and productivity throughout the pandemic. They found that companies with increased employee morale were 5.5x more likely to have increased productivity, and 83% of the companies reported increased revenue. Another study by Gallup showed that engagement increased profitability by 21%, decreased absenteeism by 41%, and lowered turnover by 59%.
Boosting employees’ attitudes is essential because companies will grow when employees’ spirits are lifted. But there is another reason why it is so important.
Ignoring low morale has consequences
Companies that ignore or wait too long to address low employee morale experience long-term problems that affect operations, performance, and growth. The most common problems include:
- Loss of income ($350 billion annually!)
- Decreased productivity
- Chronic absenteeism
- Increased conflicts at work
- Higher turnover rates
- Lack of talent retention
- Poor brand image
When morale is low, it is time to make some changes.
Give employee morale a boost
The key to boosting employees’ morale is not to consider one-time solutions; you want to integrate permanent solutions into your company culture. Here are some of the best ways to boost and maintain employee morale:
- Create an open line of communication and feedback
- Build a culture of positive thinking
- Organize team-building activities
- Create an employee recognition program
- Give performance-based incentives
- Implement a health-and-wellness program (mental health too!)
- Encourage employee development
Another great way to boost employee well-being is by identifying the root cause and finding an appropriate solution. You can prioritize employee development if there is a lack of career advancement opportunities, or consider team building activities and adjusting employees’ workloads and schedules if there is worker burnout. Still, you must implement each method because each employee has a different need and experience.
By taking these steps, you will boost enthusiasm and engagement by facilitating clear feedback and communication, recognizing and rewarding employees for their hard work, and continuously encouraging their development.
Time to thrive
Let’s be honest. The pandemic hit employees’ spirits hard, and there will always be another crisis or event that will do the same. The event could be major, minor, personal, or internal, so lean into the truth that companies’ growth depends on the well-being of their employees.
Find opportunities to help your employees thrive, and your company will too. Start today by reflecting on how you can boost morale, and you’ll see your team persevere and thrive.
Content provided by Q4iNetwork and partners
Photo by fizkes