The idea of “treating employees well and it will benefit your business and customers” is recently getting a lot of play, almost as if this is a revolutionary idea. It also seems to correspond with the labor shortage existing in many sectors.
However, in times of recession or higher unemployment, many companies tend to take a more dispassionate approach to employee engagement: pushing employee morale and loyalty aside for policies more focused on the bottom line and its customers.
Here’s the thing; all humans (children, students, employees, employers, retired or aging, disabled or disadvantaged, those under- or un-employed, etc.) have an innate need to be understood and valued. Successful companies and people–in my mind, those who always treat employees well and as a result continue to be profitable–are in-tune to this and interact with employees and others in a way that fulfills this innate human need. Their actions and human policies remain the same regardless of the economic environment.
Employees tend to be more committed to companies and leaders who honor and respect them as humans; engendering greater morale and engagement, which leads to lower attrition, higher productivity and even increased innovation.
How can this NOT be good for business?