Four Key Factors to Consider When Building a Workplace Community

As we move into December, the month where we finalize our staffing and growth plans for the upcoming year, the one thing you can't ignore is the importance of building a strong #WorkplaceCommunity in your business. This is especially imperative as remote workplaces become the norm. Consider this: According to the U.S. Bureau of Labor Statistics, 50 percent of the United States workforce will be remote by 2027 and, of the current remote workers, 70 percent feel left out of the workplace.

Creating a robust workplace community will help make your team feel safe, valued, and confident in themselves and in their roles within your organization. You’ll ward off #QuietQuitting as you attract and retain the talent your business needs. Additionally, you'll drive profits up by increasing employee loyalty and customer retention.

To help you accomplish this, here are four key factors that should be top of mind:

1. When budgeting for an increase in revenue, remember that engaged employees drive profits up by 21% to 25%. Engaged employees offer better service, which leads to better client retention and loyalty ― and referrals.
2. When looking at performance metrics, be sure to use them in performance reviews. This allows you to provide instant feedback and coaching opportunities to help cultivate stand-out employees who will continue to grow within your organization. Effective coaching leads to more engaged employees and garners loyalty, longevity, and improved customer service.
3. When considering recognition programs, be sure it's not just top down, but also peer to peer. This helps build an environment of appreciation and collaboration among team members and creates for a more welcoming and productive workplace. You’ll realize cost savings due to reduced turnover and churn.
4. ?Know your (Net Promoter Score) NPS and be sure your whole team knows it, too. This demonstrates transparency and ensures everyone is working toward the same end goal. NPS also provides insights into the likelihood of repeat customers, which allows you to forecast your MSP’s potential growth, revenue, and health. Everybody wants to be on a winning team. NPS is one critical indicator to let you know if you’re winning.

Building and retaining a strong workplace community requires that you be cognizant of a few key factors noted above. Doing this will help you tremendously in keeping your team happy and productive, your clients sticking around, and your revenue growing.

One tool that covers all of the components of a successful workplace culture is IT By Design’s Team GPS. It combines all your separate tools into one convenient platform — including rewards and recognition, performance management, client surveys, and others — that will help you retain clients and team members and drive your profitability. Click here for more details and to schedule a free demo.