The belief that workers are productive because they have a big paycheck coming their way might hold some truth, but there’s a lot more to it than that. Happiness plays a major part in the productivity of professionals in today’s workforce. A recent study led by economists at the University of Warwick discovered there is a direct correlation between happiness and productivity, stating that happiness causes a 12% spike in productivity. On the opposite end, unhappy employees experience a 10% decrease in productivity. As the research team stated, “Positive emotions appear to invigorate human beings.”
When an employee is happy, good things seem to follow; the brain is more responsive and works better and more efficiently. When this takes place, individuals tend to become better problem solvers and are able to think more creatively. They are not only able to perform their jobs more efficiently and productively, but also able to work better in a team environment. This allows the team as a whole to perform at a higher level and be able to work more effectively toward common goals. In summary, happier employees who are more productive perform at a higher level, increasing profits in the long run.
When it comes to your dealership, there are several things you can do to ensure your employees are happy and giving you their best work. As many companies have learned, it’s not always about the biggest paycheck; in fact, many other factors come into play. Take time to consider ways you can engage and include everyone, working to make individuals feel more involved and enthusiastic about overall dealership interactions. In addition, it may be time to take a look at your internal communication, your social media presence, and even additional small perks like an improved breakroom or flex time to boost employee morale and let them know you appreciate what they offer the dealership. In the end, your happy employees will reflect well on the dealership as a whole and will earn the loyalty and business of customers.
Employee happiness doesn’t always end up at the top of the priority list for companies. It’s easy for things like sales, profits, and expenses to win out when it comes to capturing your time; however, it’s important to focus on your dealership talent for several reasons. Not only is it more expensive to find new talent than it is to retain existing talent; it’s also bad for morale and bad for business if there’s continuous turnover because of disengaged employees.
Being happy at work helps employees live better lives outside of work, and additionally, it’s been proven that happier, more engaged employees get better performance evaluations, opening up more opportunities for increased responsibilities, higher pay, and professional growth. And if that weren’t enough, those same employees were shown to also have lower medical costs and less absenteeism from work, as opposed to their less engaged counterparts. Your engaged employees are not only invested in themselves; they’re invested in those around them, making for a healthier, more engaged dealership environment overall—and that leads to a place where customers want to visit, shop, and buy.
A recent Gallup study revealed that only 13% of employees worldwide are engaged in their jobs, however the most recent U.S. numbers show engagement is at a new high—34.1%. After facing a long-time employee engagement crisis, it seems U.S. companies are taking note of the needs of professionals across many industries, offering new ways to connect, share, and engage. With this in mind, dealerships across the nation have a wide range of opportunities available to them to both reach new talent, as well as retain the talent they already have onboard.
Disengaged employees cost businesses in the U.S. around $450-550 billion annually, leaving businesses with a choice to either engage their workforces and create happy, healthy employee environments or leave things as-is and take the chance of losing out on great talent. Dealerships that are aligning themselves with the latest in communication technology and tools, working to build better online social platforms, and reacting to creative perks and amenities with an open mind are well on their way to building strong, engaged, and loyal workforces.