Topic of the Week: Impact of COVID-Perspective at the ground level
"Employees who believe that management is concerned about them as a whole person - not just an employee - are more productive, more satisfied, more fulfilled. Satisfied employees mean satisfied customers, which leads to profitability." Anne. Mulachy
Yesterday's insightful post provided a much needed view of what Executives are thinking or have been thinking about the COVID-19 pandemic. While it's critical that companies remain profitable to continue operating, equally as important is that employers are creating an environment that allows their "biggest asset" employees to feel safe and secure.
While it was surprising to read that Netflix's CEO would want his workforce to be back to the office within 12 hours of a vaccine it truly shows how little he truly cares about the well-being of the workforce. From the viewpoint of the employee, corporations want to hurry-up to get back to the status quo so employees can start earning more revenue for them. Do companies really care that their workforce has experienced loss of loved ones during this pandemic? While companies are trying to recover they also need to remember there aren't a lot of companies that are able to sustain growth and financial prosperity with employees who don’t feel appreciated and valued.
In doing research for this post, we came across an article from Business Management Degree that lists the top 10 reasons businesses fail:
1) Ineffective leadership
2) Lack of long-lasting value
3) Failure to understand the target market
4) Lack of transparency
5) Reliance on a single customer
6) Lack of personal growth
7) Zero cost control and accountability
8) lack of concrete business systems
9) Not competing enough
10) Failure to create a sense of trust
Every single reason that a company fails can be attributed to how a company treats their employees and the culture they create to make an employee feel valued and appreciated. When employees feel that a company or that their employer truly cares about them there is nothing that employee will not do to support the vision of the company.
During the pandemic companies should show employees that their number one concern for them is the well-being and health of its workforce. Very rarely do you hear employees leaving a company that they feel cares about them and puts their needs first. We all understand that a corporation is in business to generate a profit however without sewing seeds of loyalty and trust in the workforce employers will potentially fail.
This quote by Frederick Reichheld drives home the message of today's post: "I have yet to find a company that has earned high levels of customer loyalty without first earning high levels of employee loyalty."
In closing there is never a better time than a global crisis to show your workforce what matters to you, lost revenue can be recovered but can a company survive and thrive without the loyalty of their employees?
Stay Blue & Gold!!!..