As a business owner, it would come as no surprise that you love your business. But do your employees feel as passionate as you do? A recent study shows that 80% of employees are dissatisfied with their jobs in some way. Business Registration Hong Kong has taken the key findings of the study for you to learn from and build your business with.
Replacing employees is hassle-- and it’s expensive! Finding a replacement can cost you up to one-fifth of the salary, in addition to productivity loss, the cost of training the new employee, and the slow productivity of the new employee. Employees in the food services and accommodation industry are the most unhappy with their work and have the highest overturn rate; about 37 percent quit annually.
So what can you do to keep your employees happy? Research shows that team-building is the best way to keep your employees invested in your business. Team-building exercises have been proven to increase trust among coworkers and managers, reduce conflict in the workplace, and increase collaboration in teams.
These may sound good, but how do they really benefit your company? According to the study, 48% of employees who resigned in the US listed lack of trust as their primary reason for leaving. Verbal fights are recorded as being “common” for 42% of survey respondents, and only 27% of employees who responded felt they were involved in decisions made by their employers. By using team-building exercises, you can keep your employees engaged, involved, and invested.
What do you do to keep employees engaged at work? Let us know! For more information on how to improve your business, how to get started, and more, visit Business Registration Hong Kong.
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