A Company Has to be So Much More than the Bottom Line

​To be successful in today's business environment, companies cannot afford to focus only on the bottom line, to the exclusion of all else.
 
Regardless of the fact that, for many years, this mindset has been prevalent at a large number of organizations.
 
𝙉𝙤𝙬𝙖𝙙𝙖𝙮𝙨, 𝙝𝙤𝙬𝙚𝙫𝙚𝙧, 𝙛𝙖𝙘𝙩𝙤𝙧𝙨 𝙡𝙞𝙠𝙚 𝙢𝙞𝙨𝙨𝙞𝙤𝙣, 𝙫𝙞𝙨𝙞𝙤𝙣, 𝙫𝙖𝙡𝙪𝙚𝙨, 𝙖𝙣𝙙 𝙘𝙖𝙧𝙞𝙣𝙜 𝙡𝙚𝙖𝙙𝙚𝙧𝙨 𝙖𝙧𝙚 𝙖𝙗𝙨𝙤𝙡𝙪𝙩𝙚𝙡𝙮 𝙘𝙧𝙞𝙩𝙞𝙘𝙖𝙡.
 
In addition to a set of fundamental practices that actually engage employees and improve cultures.
 
(As opposed to quick fix, surface-level changes that don’t work).
 
All of which ensure organizations are set-up to be as profitable as possible, while also being great places to work.
 
✅ A win-win for both employers and employees.
 
However, if those fundamentals are not in place, employees will not be engaged.
 
And, according to Gallup, disengaged employees cost the US economy $450B-$550B per year.
 
𝘼 𝙣𝙪𝙢𝙗𝙚𝙧 𝙨𝙤 𝙡𝙖𝙧𝙜𝙚 𝙖𝙨 𝙩𝙤 𝙗𝙚 𝙖𝙡𝙢𝙤𝙨𝙩 𝙢𝙚𝙖𝙣𝙞𝙣𝙜𝙡𝙚𝙨𝙨.
 
💠 However, consider that in September 2022 almost 159M people were employed in the US, according to the BLS.
 
💠 And that Gallup’s most recent figures show that 68% of US employees are disengaged.
 
💠 The cost, therefore, per disengaged employee, is approximately $4,629 per year.
 
𝘞𝘩𝘪𝘤𝘩 𝘲𝘶𝘪𝘤𝘬𝘭𝘺 𝘢𝘥𝘥𝘴 𝘶𝘱: 𝘈𝘯 𝘰𝘳𝘨𝘢𝘯𝘪𝘻𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩 100 𝘥𝘪𝘴𝘦𝘯𝘨𝘢𝘨𝘦𝘥 𝘦𝘮𝘱𝘭𝘰𝘺𝘦𝘦𝘴 𝘪𝘴 𝘭𝘰𝘴𝘪𝘯𝘨 𝘰𝘷𝘦𝘳 $460,000/𝘺𝘦𝘢𝘳.
 
No organization can, therefore, afford to 𝙣𝙤𝙩 focus on engaging employees and cultivating caring cultures.
 
Or the problems associated with disengaged employees and bad cultures will prevail, such as:
 
🚩 Increased absenteeism
🚩 High numbers of safety incidents
🚩 Low customer service scores.
🚩 High turnover
🚩 Inability to attract top talent
 
All of which are costly, and directly, negatively impact the bottom line.
 
Therefore, a solid business strategy that includes ensuring that employees are engaged, which leads to caring cultures, is a must.
 
To ensure a healthy bottom line.