Starting a business is an exciting venture. It’s the opportunity to be your own boss and potentially reach great success without having to answer to anyone. Part of being the boss, however, means having to eventually hire employees.
Many new business owners make the mistake of forgetting to treat their good employees with care in order to retain them. Believing that good employees are easy to find is a mistake that many employers learn the hard way. A good team is the backbone of any business since you are only as strong as your weakest link so maintaining reliability in your employees is crucial.
Here is why you should be good to your employees as a business owner.
Less Time Wasted On Training
Each time that you hire a new employee you will need to take the time and spend the resources required for training them to do the job. Depending on how complicated the position is it could take up to weeks to fulfill the amount of time required to fully prepare them for the job requirements.
This time devoted to training new employees could be used instead for production or services to clients. Rather than using this valuable time that you could be devoting towards getting the job done, you are teaching yet a new person how to do the job. When this happens frequently you are ultimately losing time which equals money out of your pocket.
Less Risk For Theft / Damage
Unfortunately, employee theft is more common than business owners would like to think. Usually, this is a result of disgruntled employees who are lashing out.
Sometimes disgruntled employees will mistreat company equipment or steal from the company’s supplies as a way of releasing their frustrations.
Happy employees who feel that they are fairly treated are less likely to disobey or disrespect company policy and property. Therefore, keeping your employees happy has a better payoff in the long run in order to eliminate risk for losses.
High Turnover Looks Bad To Customers
If you frequently have new employees who are new faces to customers it can shed a negative light on your business and give the impression that you can’t retain employees.
A high turnover rate also results in employees who aren’t experts at the job since they are constantly still in the learning stage resulting in less than ideal customer service.
They Will Give You Better Results
Happy employees who are treated with respect, good wages, and acknowledgment for their good work are more likely to give you quality work. When an employee feels happy at their place of employment they are more content resulting in a more productive performance. This a result of feeling appreciated and valued for their efforts.
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