The Knowledge Bank
We are living through a time of great change, moving from Industrial and Technological Revolutions into what has been called a Social Revolution. Historically, people-management has been meted out with threatening sticks and occasional carrots, but now we are aware that innovation and productivity come not from forced directives, but from autonomy, engagement, and mental welfare.
Plenty of high-end organisations are promoting best-practice in cultural governance. Take this article - https://www.good-governance.org.uk/publications/insights/cracking-culture - that spells out the whys, hows, and benefits of cultural advancement. A couple of years ago Harvard Business Review compiled a compelling case for prioritising engagement that's just as insightful today: https://hbr.org/2021/10/how-companies-can-improve-employee-engagement-right-now
Cultural Health and Efficiency
When your company overcomes the barriers presented by negative attitudes, optimisation is reached as positive momentum becomes a reality. When people enjoy their work and are confident in being appreciated, it naturally gets easier to do their job well, and to talk more constructively about issues they may face. Pleasure in a role also provides a powerful incentive to stay. What happens in our heads directly affects what we do with our hands, what comes out of our mouths and where we put our feet. So looking after mental wellbeing is becoming a staple for those prioritising communication, retention and morale in their development strategies.
Here's what CIPD has to say about mental health in the working environment and the current situation..... https://www.cipd.org/uk/views-and-insights/cipd-viewpoint/employee-health-wellbeing/
At a time of discernment when customers are looking for evidence of best-practice from suppliers, ESG has arrived to fulfil a guiding role. 'Environment' covers all those aspects that matter to the planet, from recycling to emissions. 'Social' covers the parts to which WorldLine directly relates - promoting an engaged workforce and high levels of personnel & customer care. 'Governance' is what you do to bring these protocols together, where the change-management process fits in and Sustainability turns into Strategy.
This article provides a comprehensive overview of ESG at work and its practical applications .... https://makeadifference.media/culture/wellbeing-and-esg/
With so much at stake in employee engagement, it stands to reason that a company's reputation is largely built on how it treats its staff. Some of the top FTSE companies have appalling human welfare records, amid plentiful opportunities for abuse. WorldLine stands proud in its endeavour to ensure excellence is achieved by enabling best-practice to reflect in a company's health, wealth and success. In the long run, sound reputation is built on much more than profit - it supports a community, and loudly champions the greater good.
Igniyte produced this comprehensive outline of the wider impacts and identities associated with workplace culture -
The Cost of Doing Nothing
Inertia often comes with a high price tag, and ignoring workplace malady is no exception. Here is a catalogue of real-time, verified costs associated with disengagement, from reputable sources of investigation and research:
Silo Mentality is explained here by Jostle, estimating 6 weeks per year lost through its evident effects. Averaging just £20 per hour, that's £4,800 a year (and we're being very conservative here)...
Turnover. Usually high in a negative workplace, where 3 staff (earning £27,000) leaving in a year would cost around £92,000. This figure was reached from research by Oxford Economics and CIPD published a useful factsheet on the subject: https://www.cipd.org/uk/knowledge/factsheets/turnover-retention-factsheet/
Morale is key to high productivity... "Gallup research reveals that eliminating active disengagement from the workforce would result in a significant increase in output per worker. This increase, applied against the current average output per U.K. worker, would amount to between £52 billion and £70 billion in productivity gains nationwide per year." https://news.gallup.com/businessjournal/165947/solving-productivity-problem.aspx
A company with 200 staff could easily realise a £1m loss, according to https://fridaypulse.com/insights/whats-the-cost-of-low-employee-morale-in-the-workplace . So let's say you have 50 staff giving a quarter of that figure.... that's £250,000 p.a. sailing 'out the window' with the negative floobidust. Champion Health published a great article with plenty of linked references covering this topic: https://championhealth.co.uk/insights/low-employee-morale-statistics/
while Payroll Partners take time to outline Carol Hacker's book on the direct link between morale and profitability: https://www.payrollpartners.com/low-employee-morale-comes-with-high-costs/
Communication has a lot of facets to it, all of which are either costly or profitable. This concise article was written in 2021 so we could say that real-time costs have gone up since then. The calculations are in dollars also, but let's take the benchmark again for a company with 50 staff, which is losing £354,500 per annum (after dollar conversion). https://profspeak.com/the-5-costs-of-miscommunication/
Tallied up (and rounded DOWN), a demoralised SME with 50 staff loses a gut-wrenching £700,000 per year !!!!
Can you really afford to do nothing at all and waste that amount yet again? If not, it's time for some sustainable improvements you can measure and identify. To set out on an enjoyable journey, have a chat with Kathy today.