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7 Ways Teamwork Improves Your Bottom line

7 Ways Teamwork Improves Your Bottom line

Teamwork is something that never stops rewarding a business. An average business owner knows that, but do they understand the meaning of it? Maybe you are not able to manage the chaos at your workplace because you are not encouraging teamwork. It’s surprising to know that happy employees are more productive than those who aren’t. How do you keep your employees ‘happy’? Simple, follow this:

  • Engage them
  • Reward them

It’s going to help you a lot. When you hand over the contract to a person, you are making them a part of your team. Take a look at these simple but effective techniques to boost your bottom line:

  • Growing productivity

In business, productivity is equal to profitability. When you engage your employees and encourage them, they will feel glad they joined your team. Motivational sessions and one liners that are posted on the walls of office help a lot in the form of little reminders. Whenever they’re feeling a bit rough, they can just look at the motivation around the office and feel better. Working as a motivated team does get more work done and according to a study, there is a 19% increase in operating income of motivated employees, whereas companies with lowly motivated employees decline by 33%.

  • Reducing absenteeism

This is a bit like when you were in school. On days when your least favorite teacher had a class, you didn’t want to go to school or face her. Same is the case with employees. If an employee is not feeling like he is a part of the team, he might take frequent offs from work, thus disrupting the workflow. Such employees can cost approximately $3600 per hour weekly - which is both frightening and alarming.

To keep a better check on such employees, you can take help from app developers like Airg, Bizness Apps or Smart Developers to make an intelligent app of your own, or apps like Tracksmart to keep an account of daily absenteeism. If you nip this evil in the bud, your team will evolve stronger, and will work better with the help of passionate employees. Also never forget your users as they are the key for your growth, collecting data from them can be helpful and these source can discussion on different blogs or reviews on several open platforms.

  • Make management stronger

It’s mostly management that makes the team strong, but actually it is the other way around too. 75% people who quit their jobs are actually leaving their bosses, and not the job itself. A strong management group is the result of a strong team. A team where employees are frequently assessed and give positive responses in work surveys, aids the management in general. 89% managers think that employees left due to low pay, when they actually left because of poor maintenance, and did not feel as if they were part of the team. Only 12% people leave due to pay. Analyze your management and it will help your teamwork grow.

  • Brings out the good in your employees

As an employer, it is your job to bring out the best in people so that they can be better at the job. In a survey, one quarter of employees felt that they are ‘ignored’ by their company, thus they feel demotivated and dejected.

37% employees felt their supervisors pay attention to them, and the disengagement fell drastically. Many companies announce sports days, or picnics and also send the best employees on foreign trips, because it makes the employee feel content about their employer, and come back stronger to work harder for the team.

  • Customer reviews are better

Have you ever thought that if you assign a client to your employee, it’s basically like giving a kid to a babysitter? Also, if the babysitter is tired or frustrated, they may harm the baby. In working with clients, if you are focusing on employee engagement and their wellness, they will in turn be very good to the client and sometimes go out of the way to help them.

Take a survey to assess the efficiency of your employees by asking their clients to respond. This will show you who is dealing with the situation in what manner, and what outcomes are being produced. Simon Sinek said, “Customers will never love a company until the employees love it first”. Use the client reviews for your employee to boost their morale, and keep them in the loop about their positive services. Create an update system to announce who did their very best with clients and the feedback will make your team happy about their contribution.

  • Banish Shrinkage

This is the nightmare of any team leader. If a member of your team is not feeling good for any reason, they might harm the whole team. An annoyed employee may steal office supplies, indulge in negative gossip, or also avoid simple tasks to disrupt the workflow.

Your job is to find that person and deal with him. Actively disengaged employees are a mere 16% in a workforce, but they can be very harmful for the team.

Many times, a disengaged team member is just holding a grudge. It’s your job to welcome them back into the team. Ask how they are every day, and how is their life in general. If you are the reason of some grudge, then own your mistake and say sorry. You will be surprised to see the change in their behavior. They might turn over a new leaf and help your team succeed.

  • Understand why employees quit

Why did your employee leave? Other than the management, what caused them to shift? Do an employee exit interview. It will open the options in front of you. It maybe because they’re moving or have a personal reason, or it may be that the competitor is offering them a better alternative. It is going to help you nevertheless. If you believe in walking hand in hand with your team, exit interview is going to help you and them in future projects. Once you are well informed about the reasons behind the turnover, you may adopt measures to decrease it and gain some of the important members of your team back.

 

Productivity, profits and clients - all of this may be a lot to deal with at the moment, but you can start with one thing at a time and then keep going. It is a clichéd term, teamwork, but the way it works is not. It is now your turn to reshape your teamwork theories and change your business plan, and if you already have, cheers to you!

Audrey Throne is a mother and a professional blogger by choice. She has completed her masters in English literature from university of Birmingham. As a blogger she wrote quite a few posts on health, technology as well as management. . Currently, she is associated with Airg team for development work. Check out her firms performance reviews. Find her on Twitter: @audrey_throne.

 

About Tresha Moreland

Tresha D. Moreland, MBA, MS, SPHR, SSBBP, founder of HR C-Suite, is an HR thought leader in Human Resource Strategic Management. She has held key human resource leadership roles for over 20 years in multiple industries most recently a senior vice president in the healthcare industry. Tresha is the founder and publisher of HR C-Suite (www.hrcsuite.com). HR C-Suite is a game changer results-based HR strategy website. It is a first-of-it's-kind site that organizes HR strategy based on desired business result. She has developed a business philosophy of integrating human resources with business strategy, thus creating a hybrid HR leadership approach. This approach enables the leveraging human resources to achieve business results.

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