Navigating the daily challenges of running an SME is no small feat, and the wellbeing of your team is crucial to your company’s performance and profitability.
Here, we explore five compelling reasons why fostering a positive workplace culture is indispensable:
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- Boosted Productivity Through Happiness
- Attracting and Retaining Top Talent
- Reducing Absenteeism
- Enhance Your Reputation
- Morally Right, Strategically Vital
1. Boosted productivity through happiness
It’s proven! A study by The University of Warwick revealed that happiness directly correlates with productivity, with happy employees outperforming their peers by 12%. By fostering an environment of wellbeing, your business can enhance output and efficiency.
2. Attracting and retaining top talent
Recruitment and staff turnover is expensive, with the average cost of hiring a new starter at around £3000. Small businesses have a unique opportunity to attract the best talent in the market, with research showing that those working at SMEs believe they have a better workplace culture (compared to larger companies) and enjoy the ‘tight knit’ community (according to research by Westfield Health).
3. Reducing absenteeism
Stress, in both work and personal lives, significantly contributes to absenteeism. Gallup research highlights that increasing your employee’s workplace happiness you can reduce absenteeism by as much as 41%! Imagine what your business can achieve if you reduce the number of sick says that staff take…
4. Enhance your reputation
It’s a competitive world out there, especially for small to medium sized businesses who are focused on growth. Create a positive workplace and empower your employees to become brand advocates. Research by mental health charity Mind tells us that 60% of employees would be more likely to recommend their organisation as a good place to work if their employer supports mental wellbeing.
5. Morally right, strategically vital
Doing the right thing is important, but can you afford not to? A study by Gallup noted that profitability improved by 21% in organisations where employee wellbeing and engagement was a priority.
CH4B can help you unlock the potential of your team and transform your workplace culture.
We are here to support business growth by providing expert advice and support to our members through strategic planning sessions with seasoned business advisors. We understand that as a business owner, your time is valuable, and that’s why we have created a membership experience that brings everything you need right to your fingertips. Working with our trusted Expert Partners, CH4B offers a solution to every business need, so you can focus on what really matters.
With CH4B, you have the power to unlock your full potential and drive your business to new heights.
Be part of our SME business community
Join our unique business community and be part of an environment that champions SME growth. Find out more about joining CH4B and book a call today:
