Do you have a team of people who come bounding into the office each morning, full of energy, positivity and ready to take on any challenge you throw at them? If not, keep reading.
You aren’t alone. From our coaching experience, we generally find (on average) people are only 60% as productive as they could be. Even the most positive of people who are usually reasonably energetic, are still only coming to work with about 60 energy credits instead of 100 (see ‘Are you treating your energy credits like nuggets of gold?’).
The real cost of low productivity
The average Australian employee is overwhelmed by stress and underwhelmed by their perceived value. As a result, work-related stress costs businesses in excess of $7 billion in absenteeism each year. What is even more alarming is presenteeism (when people come to work but are not well or are simply just not engaged, and therefore, half as productive) costs in excess of $28 billion per year. We are creating a workforce of sick, disinterested, and disloyal employees.
That’s sickness and burnout, what about turnover? Staff Turnover costs your bottom line 2.5 times per a full-time employee’s salary. A productive $55,000 a year, experienced employee leaving your company costs you $122,500. Department of Labor statistics show that 46% of the people that leave a company voluntarily do so because they don’t feel valued. Now imagine how much the remaining people are costing you who choose to stay and do an average job for you (presenteeism).
Time to start challenging your beliefs
We want to change the beliefs around rewarding outcomes instead of rewarding face-time. We’ve all heard that concept before; these old school ideas around productivity are no longer enough to increase profits. If you reward face-time, guess what you’ll get – face-time. If you reward outcomes and performance, guess what you’ll get – results.
Challenge your thoughts around the following to start to create a clearer picture of where your beliefs sit currently:
- What is it that you want to reward?
- What are some other ways you can focus on results rather than face-time?
- What behaviours are you creating that your team are emanating?
Both your own and your team’s energy affects the profitability and performance of your business. Do you want people coming to work with 60 energy credits or 100? 100, of course. So you need to coach your team to come to work with 100 energy credits – if they are coming with anything less, that’s your problem! You need to focus on ways to help you and your team spend less and achieve more. And at Next Evolution Performance, we are experts at increasing performance while decreasing effort. Speak to one of our expert coaches for more details.
If you’d like to find out more, join the conversation in our next open workshop.