Why employee happiness and business success go hand in hand

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By Deyan Dimitrov, CEO, Laundryheap

Whether you are the CEO of a Fortune 500 company or the entrepreneur behind a start-up, the biggest asset for your business is your employees, and treating them well – is one of the keys to your success.

As we celebrate Employee Appreciation Day this month, we reflect on the value of keeping employees happy and its ROI for an organization.      

How to retain employees     

In the new normal, where health, and more recently mental wellness, is a top priority, the rise of the hybrid work culture has allowed for a more flexible way of working, leaving employees feeling a renewed sense of wellbeing.      

Nowadays, employees are more likely to prioritize their mental and physical wellbeing, with studies suggesting that 52% of UAE job applicants prefer organizations that have empathetic mental health policies embedded in their company values  – and are more likely to leave companies that don’t.

It all comes down to nurturing and advancing employee engagement – how connected employees feel to the company and how fulfilled and motivated they are within their job role. Simply said, if members of the team do not feel as though they are playing an important role to the company, they will not perform to their full potential. At Laundryheap, we are helping to simplify and better our customers’ lives, a reflection we as a company want to shine back on our employees as well.

When it comes to encouraging employees, a little goes a long way.  Small gestures such as praising employees through personalized, positive feedback, financial incentives, providing training and learning opportunities, or simply checking in on their mental wellbeing can all have a positive impact on an employee’s motivation. Additionally, flexibility is a crucial aspect, with a study finding that no less than 86% of UAE employees agree that organizations need to offer more flexibility to retain staff.

As a business owner, it’s crucial that I am constantly evaluating how we run as a business, always bearing our employees in mind. One must be honest and ask ‘what could be causing dissatisfaction for our team members at this moment?’.

Always aim to create an environment that’s open and nonjudgmental, a space where employees are encouraged to voice their opinions and grow the business with you. Not to mention, it’s essential to make sure to keep your team members informed about what’s happening in the wider organization and how it affects them. The more open and transparent you are, the easier it will be to build trust and create good relationships.

Employee satisfaction’s impact on business success

When employees feel their work is appreciated and their wellbeing is prioritized, their engagement increases. Research suggests that happy employees are 20% more productive, likely to manifest as increased motivation, loyalty, improved work performance, harmonious teamwork, happy customers, and eventually, positively affecting the company’s profitability.  In fact, a study conducted on more than 600 businesses in the US, found that overall, companies with high employee engagement were 21% more profitable.  

The UAE government has opened a gateway for companies to retain employees with the latest amendments and additions to labor laws. Revised visa contracts, extended maternity and paternity leave, and further protection against harassment keeps employee needs front and center to ensure ease and flexibility of working in the country. This, in turn, allows companies to take this forward and follow in the footsteps of the government to foster a healthy and productive work culture.    

The goal is to create an environment that empowers employees to show up motivated and energized each day, ready to conquer any challenge and reach their full potential both for professional growth and the organization’s success.

After all, employees are the engine that keeps company operations running, so keeping their happiness and progression at the forefront will only reap success for the company as well.