Everyone has worked for a frustrating company or leader. The only silver lining that awaits the employee is a solid paycheck every two weeks. Other than that it’s the same irritating job day in and day out.
However, companies that only strive to give their employees a paycheck are missing out on the true value of employees and potentially falling behind their competitors who are giving so much more in order to get more in return.
Employees have the ability to make or break a company. Employees are the people who are creating customer relationships, who are helping guests when they most need it, who are figuring out the answers to complex questions and who are recruiting for the next level of talent to bring to an organization.
The service profit chain is a great example of why employees matter the most. A lot of companies are overly focused on profits. Being money hungry doesn’t mean a company will make money.
However, by taking care of and impressing employees, it gives businesses a promising advantage of customer loyalty. When an organization treats employees well, whether that’s through culture, benefits, perks, or great leaders, they are more willing to treat customers well, which in turn will create brand loyalty or encourage customers to stay, spend or experience a little longer. This then allows the company to give back to its employees, which starts the process all over again.
Of course, a company could force or coerce its employees to treat its customers right, but how long can that really be sustained? Organizations need create an employee-focused culture, set high expectations and hold people accountable in order to drive profits.
It could be argued that a company must have customers to be in business, but I believe that it starts with the employees because, realistically, if the company did not have employee expenditures they would not be able to open a door, answer a phone or send an email to find a customer.
While some companies do this very well, a lot of companies are missing out on the best investment they can make. Simply by creating great “internal service” for employees while shifting away from a focus on generating profits, can in fact provide a much more profitable business strategy.
Give to employees, so they can give to customers and customers can give to the bottom line. I really believe it can be this easy for companies, if they are willing to change their culture and mindset and prove to employees everyday that they’re the most important part of the organization. If employees are engaged, the ROI will be quite rewarding.
Does your company utilize The Service Profit Chain? Let me know in the comment section below.