Okay, so I'm not a business owner or a manager. I'm just an employee. I guess that means I'm not the authority on how to run a successful business, right?
Wrong.
Customers aren't the only ones who keep a business running. It's the employees that deal with the customers, provide office support, manage financial affairs, and make decisions that affect the company's image and overall success.
Just ask Sam Walton, founder of Wal-Mart. When we used to see him on the news or through other outlets, he was always around a crowd, performing motivational speeches. His audience wasn't customers-it was the employees. He knew that addressing the needs of his employees were paramount to the successful operation of the company. Wal-Mart Corporation offers its full-time employees a full range of benefits, including medical, dental, and health insurance, 401K, tuition reimbursement, and even profit sharing. Wal-mart stores are flexible with their employees' schedules. Today, Wal-Mart is one of the most successful businesses worldwide.
All businesses can learn a thing or two from Sam Walton. When a company is meeting the needs of employees, establishing job security, and properly compensating employees for their experience and job performance, it leads to employee loyalty and achieves the important goal of keeping employees motivated. Employee loyalty is important because it helps deter the costs of turnover-it costs money to recruit and train employees. Additionally, motivating employees ensures that job performance and production levels meet or exceed expectations.
Employees flourish in an environment where personal growth, as well as professional growth, is encouraged. When an employee's job options become stagnant, so does the employee's performance. This is another reason why Wal-Mart is an attractive employer; employees have the ability to start from the bottom and work their way up the corporate ladder. The first key is that there is an "up". The second key is that with programs such as tuition reimbursement, employees are encouraged to develop their personal skills and talents. Finely tuned skills and talents are something that the employer benefits from, as well as the employee-provided the employee is given enough reasons to stay.
When an employee feels that a company cares about his or her needs, the employee is going to care about the success of that company. Profit sharing, for example, shows the employee that when the company makes money, the employee makes money, too. This is a great way to encourage employees to achieve company goals. Even smaller companies can benefit from such compensation by offering the employees bonuses based on company profit.
Of course, customers are equally important. I have seen businesses whose only focus was to make a profit. Sure, a business is out to make money-but in some cases, the needs of the customer are completely disregarded. Business is about personal relationships. Hopefully, over time, you establish rapport with your customers and get to know them on a personal as well as professional level. Customers like to know that a company offering a product or service actually cares about their needs. What other way to show them that their needs are valued than by building a personal relationship with them? When the customer is satisfied with the level of service he or she is receiving, he or she will be more inclined to purchase with that company in the future. Therefore, if the main focus of a business is on the customers and not the money, the money will come. It's a simple formula.
A good company, a successful company, is one that shows concern for both the employee and the customer. If the employee is happy, the customer will be happy. If the company shows no concern for the customer, so will the employee (in most cases).
As a consumer, I like going to places where the employees are happy. It makes me want to be a frequent customer.
Sourced from the internet
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