Even though you might think that your boss hates you, that’s usually far from the truth as they only want to see you happy at work. No matter how power-hungry a CEO might be, their employees’ happiness is one of the main factors that increase effectiveness, thus increasing profits.
So, even if you don’t know your CEO, they’re still interested in giving you the best working conditions they can. And if they don’t, it’s time for you to look for another job. It’s hard for a CEO to make sure that all their employees are happy at work, especially if your company is significant. A CEO can get to know all their employees personally in a start-up or a small firm.
But with hundreds of employees, that becomes impossible. So, all CEOs need to make sure they have some tricks up their sleeve to ensure everyone gets the treatment they deserve. If you are a CEO, an aspiring CEO, or want to understand your boss better, read on to find out what those secrets are.
Why Is Employee Happiness Important?
Of course, it would be great if all CEOs cared for their employees and wanted to make them happy out of compassion. But because of corporate structure, most large employers don’t even get to meet all of their employees. And because a private company has to provide the shareholders with the most considerable profits possible, CEOs need to make sure their company is as efficient as possible. And, believe it or not, one of the best ways you can boost efficiency is by making employees happy.
A fact that perfectly portrays the importance of happiness is that U.S. companies lose up to $550 billion annually because their employees are unhappy. And replacing an employee is about 33% more expensive than ensuring their work conditions are the best they can be. We examine a few reasons why being happy at work increases efficiency. A Swarthmore study showed that when people are happy, they tend to make better decisions.
When people are sad and stressed, they can easily get distracted. They might not concentrate or even be motivated enough to make an effort. They are also less likely to quit, which is good because they won’t have to suffer the additional costs of finding a replacement. An employee that stays with the company for a long time will develop all the right skills for the job. They will grow and develop in an indispensable way to the firm.
When employees are happy at work, that demeanor will show on the outside. Because of this, they are bound to provide customer support, which will improve customer satisfaction. Lastly, the happier someone is, the more creative they can be. This is useful in a business because it can lead to innovation and growth.
The Secrets CEOs Use To Make Employees Happy
Making sure that employees can be as productive as possible is great for any company. Besides, it’s great to know that you can provide the best life possible for the people who work for you. But you always need to know some secrets if you want to make people happy. Which are the tricks that CEOs use to make sure employee satisfaction is as high as possible?
1. Make Sure They Have A Work-Life Balance
At first glance, it seems like an employee who works a lot of hours is a productive employee. But that’s rarely the case. Maybe an employee can work over 10 hours a day for a few weeks and be productive. But in the long run, this will lead to burnout. As a CEO, if you want to avoid that, you need to make sure your employees have enough time for a work-life balance.
The idea of work-life balance is almost a buzzword at this point, but that doesn’t mean you should dismiss the idea. Being able to have a life outside work is significant. Someone who has time for a social life can build and maintain relationships. They can pick up hobbies or develop skills. These are the people who can go home after work and eat a home-cooked dinner with their kids.
They can go on weekend trips to relax or go to a pottery class if they want to. They are the people who will be less likely to be depressed, alone, or burnt out. Burnout is a real issue that can lead to psychological problems, or even physical ones, like heart conditions. Some estimate that burnout costs U.S. businesses upwards of $190 billion in healthcare spending per year.
If you want to make sure your employees stay happy at work, try offering them a flexible schedule. Maybe they can do some of their work remotely so they won’t have to waste the extra time commuting. We outsourced small business HR services and it was the best decision for our business. Perhaps you could start measuring employee performance by productivity and number of projects done, rather than by hours. Make sure you offer shorter hours and more vacation days. If you implement any of these changes, happiness and productivity will increase.
2. Listen To Your Employee’s Needs
Even though everyone has gotten used to the fact that employees listen and CEOs and managers command, that might not always be the best approach. Feeling left out, like their opinions are irrelevant, can make people feel disrespected and overlooked. If your employees are never involved in the decision-making process, they will feel forgotten.
This will lead to a decrease in happiness, which in turn will hurt the business. If you want to make sure your employees are motivated, you need to involve them in the decision-making process from time to time. Of course, a CEO won’t be able to decentralize everything. But that doesn’t mean they can’t ask managers to listen to employees more. Even employee satisfaction surveys can go a long way in making them feel heard and raising morale. This makes them happier but also strengthens the bond between managers and employees. If you want to figure out how to make a good survey that yields actionable insights, you may visit sites like https://www.qualtrics.com/blog/writing-survey-questions/ to know more.
And you can even try letting them make some decisions alone, like choosing the team for a particular project. Sometimes, employees might even know more than managers because of how directly involved they are in the firm’s activity. An employee will be happy at work when they feel that they control their actions. If you want to be the best CEO you can be, that’s what you should offer them.
3. Create Opportunity For Growth
When an employee starts a new job, they don’t want to be stuck in the same position forever. They want to know that their job can lead to growth and that the promotion process is transparent.
If employees feel like they are stuck doing the same entry-level job for years and years, they won’t feel valued. And an even bigger problem is if the promotion process is not transparent. If employees feel like people are getting promoted for unfair reasons, they will not be happy. In turn, they will not be productive or motivated to work harder. They will be more focused and more accountable for their actions.
Career mobility is a great way to make sure your employees have goals they can strive towards. And they motivate them to be innovative, pitch-in new ideas and work on their skills. And when they feel valued, they are more likely to be loyal to the company. If they know the company will reward all their hard work, they are less likely to take other offers. It also adds a safety net and a notion of stability that people value. When someone is looking for a job, one of their main interests will be having growth. A good manager will always look to reward their employees when they deserve it.
4. Offer Them Employee Benefits
A positive and healthy workplace is crucial for any employee. And one of the best ways to make sure you make it positive is to offer your employees extensive benefits. Some of the most considerable costs for most people are healthcare, education, housing, etc. But these needs will differ from company to company, depending on demographics.
Giving your employees’ healthcare insurance or paying for their rent might seem very costly, but all those costs are offset by increased employee productivity. Instead of having to pay to hire more people or to replace someone, it’s much better to make sure you increase your profits. Even if the costs are a little higher, something as simple as covering for the most basic healthcare insurance can make all the difference for an employee.
Knowing that they won’t have to pay thousands for consults for something as familiar as the flu will do wonders for employee satisfaction. If you are a smaller business and your budget doesn’t give such expensive benefits, you don’t need to worry. Employees want to know you care, so your benefits can even cover the expenses for an office birthday party. Or you can offer wellness benefits, like a gym membership. You may visit sites like https://www.edenhealth.com/blog/improve-employee-performance/ to learn more how wellness benefits can improve employee performance.
When the CEO starts giving these benefits, the overall well-being and productivity will increase. And employees will generally be happier at work.
Final Thoughts On Secrets for Making His Employees Happy at Work
As a CEO, it’s essential to make sure your profits are as high as possible. But you also have a responsibility towards your employees. Not only do you have a duty to make them happy, but when people are happy at work, productivity and efficiency increase.
If you want to make sure your business runs as smoothly as possible, you need to focus on creating a positive workplace. There are a few ways through which you can do that. But the real secret is that you need to listen to your employees. You need to have an open line of communication between managers and employees and always take their feedback into account. Other than that, a few guidelines show what aspects are most important for employee satisfaction.
Having the ability to balance work and social life is at the forefront. But custom uniforms for work and employee benefits are just as important. At the end of the day, every CEO needs to remember that if you push your employees to the limit, they will break at some point. But if you give them a nurturing space, they will grow and flourish.