Your employees are your first customers
It is common for companies to believe customer loyalty is the key to profitability, but, in reality, employee loyalty is even more profitable and important to companies. Organizations should adopt the mindset of engaging their employees first, because engaged employees drive customer happiness. Loyal and engaged employees are more aligned to customer’s needs and generate 37% higher sales and 31% higher productivity on average (according to a recent article in Harvard Business Review). This organically translates into customer loyalty and, in effect, drives profitability.
Additionally, happy employees are more likely to stay with the company, which avoids the high costs of employee turnover. In fact, it costs companies more to recruit new employees than keep their current employees happy and engaged – just like it costs more to acquire a new customer than keep a current one.
The bottom line is that CEOs and managers who put the interests of the employees to the forefront and build their loyalty will reap both the financial and cultural rewards. Happy and engaged employees are more productive, successful, and are more likely to stay with their employers – so start showing your employees some love and watch your company and clients grow!
Do you have any examples of how happy employees have helped create happy customers? Share them here!