You probably know yourself that if your team is unhappy, their work suffers.
And if their work suffers, your business suffers too, doesn’t it?
Doesn’t it follow then, that the reverse is also true? When they’re happy, they work better and, crucially, more profitably?
Research proves it beyond a shadow of doubt…
David Maister, one of the world’s leading authorities on management, made a study of 139 offices of 29 firms in 15 countries and in 15 different lines of business and he came up with a staggering figure.
He found that a 10-15% increase in team satisfaction doesn’t just mean a better atmosphere in the workplace; it actually drills down to an increase of 42% in net profits.
In his book, ‘Practice What You Preach’, Maister shows that the attitudes of team members were the drivers of financial performance – not the other way around. So for a relatively small effort in improving the working life of your team, you can dramatically improve your profits.
So, how happy is your team? A casual ‘how are you doing?’ isn’t enough.
You need to know what makes them feel good and what they find annoying or even upsetting. You need to start making changes so that your team can see you’re serious about their happiness and then you can grab some of that 42% net profit you’re missing out on.
It’s easy to make a start…
You can start taking your 42% by simply measuring team happiness every month or every week. You can do this yourself but if you’re wondering where to start, don’t worry; you don’t have to reinvent the wheel.
You can tap into the power of the One Page Plan. This resource will help you measure team happiness, amongst other things, and we would be very happy to show you this. Simply contact us through the web site.