Podcast:
Be Excellent quoted the 2006 Employee Review by recruiter Randstad, reported by Management-Issues.
- Almost 90% of employees said that feeling valued is an critical factor in job satisfaction, but barely 30% of them felt that they were valued by their own employers.
- Only 25% of employees felt that their organizations felt any loyalty towards their staff and barely more than half (56%) felt any loyalty to their organizations in return.
- While the majority of employees and employers agreed that the top source of productivity gains was increased employee efficiency, only half of employees of all ages said that leadership practices in their organisations fostered employee development.
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.
another terrific podcast. you were born to do this stuff, Becky.
Thanks, Mark! You are great at encouraging people.
This is some great stuff. Thanks for the podcast.
I work for a nonprofit that helps small businesses create better work environments. We look for data like what you’ve cited that supports the notion that appealing and catering to your people translated into improved morale, productivity and, ultimately, profitability.
I recently found a study by Cornell University’s School of Industrial and Labor Relations which found that small businesses that hire workers who fit into their company culture create a “family-like atmosphere” where employees are trusted to manage themselves. This move toward empowering employees has resulted in 22 percent more revenue growth, 23 percent more profit growth and have 67 percent less employee turnover among the 323 small business respondents in the study.
Source: http://www.winningworkplaces.org/library/research/rs_2006goodhrpractequalgrowth.php
We also have some research of our own to support the link between paying attention to your people and finding business success. Each year, we recognize outstanding small enterprises. Among this year’s 30 finalists (15 will be named winners at our conference in September), most of them use practices like open-book management and several measures per employer to solicit employee feedback. We found a correlation in which these practices resulted in an average growth rate of 40% between 2004 and 2005. Even more amazing is the fact that these small businesses are spread across many industries, from marketing and technology to property management and even horse supplies.
I enjoy reading your posts and the resulting comments. Keep up the great work.
Mark H.,
Thank you for your contribution on this topic. Your organization serves a fascinating mission! I think we have some ways to work together.