As we described before, workplace happiness has a direct impact on productivity of employees. As a manager and a CEO, this is something that of utmost importance. Especially with the millennials entering the workforce and wanting far more flexibility, tangible work-culture, most managers have to deal with the cost of unhappy employees.
- One disengaged employee can influence many others in a team and make working conditions even more tough
- A disengaged unhappy employee is usually actively or passively looking for a new job and thus low on productivity. HR needs to have a greater hike in salary to ‘keep the candidate’. Less interested talent can easily be poached by competition. Less productive they are on the job, and more likely they are to impact customer satisfaction.
- With low unemployment numbers, ‘good’ candidates are harder to find. Replacing a disengaged employee increases costs by 100% to 300% of the base salary of the employee
- On an average, to recruit senior talent involves scrutinizing as many as 100 CVs and 2-6 months of lead time.
- The likelihood to make mistakes, miss business opportunities is much greater for someone disinterested and unhappy
- Disruption costs when the senior talent goes away from the team. Negative impact on team morale. Failure to meet deadlines when the person leaves. Overall customer satisfaction can directly be impacted!