A recent Australian study found that high performing workplaces have:
23 per cent lower employee turnover than low performing workplaces (LPW)
12 per cent higher total factor productivity
15.6 per cent average profit margin (compared to 5.4 per cent of LPW), or average profit margin difference of $40,051 per full-time employee.
Source: Skills Connect
If you are interested in knowing how your workplace is performing, then consider conducting a Workplace Effectiveness Survey.
Every business owner that we speak to wants to build a satisfied and engaged workforce. Conducting a Workplace Effectiveness Survey will help you build a loyal and satisfied workforce.
7 Reasons to conduct Workplace Effectiveness Survey
The key reasons that you would conduct a Workplace Effectiveness Survey are:
1. Gather information, suggestions and insights from your employees – they have the answers and solutions on how to make your workplace more effective
2. Ensure your employees are satisfied and are loyal
3. Make better, more informed decisions on where to target your resources for change
4. Create the necessary buy-in and momentum from employees around the need to change
5. The feedback that can be used as input in ongoing improvement efforts
6. Enable you to measure and manage on-going change efforts
7. Send an important message to your employees that you value their input
4 Ways to get the most out of your Workplace Effectiveness Survey results
Here are 4 ways to make sure that you get the most out of your Workplace Effectiveness Survey.
1. Make sure you understand the questions in the survey. You can reword or delete to make sure it is relevant to your business.
2. Make sure you survey as many employees in as many different roles, sections or locations to give you confidence in the results. It will also give credibility to any changes you want to instigate as a result of conducting the survey.
3. Make sure you give employees feedback. It is tempting not to give feedback especially when the results come as a surprise. Funnily enough, it won’t be a surprise to your employees – they work in your business every day.
4. Make sure there is a clear improvement plan set in place to encourage employees to continue to give you open and honest feedback in the future.
Here is a sample Workplace Effectiveness Survey that you can use within your workplace. Click Here For Sample Survey
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About the Author
Tim has vast experience in the strategic and financial management of businesses with a particular focus on cash flow and profit improvement, strategic thinking and performance reporting. He has extensive knowledge of business start-ups and acquisitions as well as exit and succession planning. Tim is an adviser with Supertrac, a corporate advisory firm specialising in business divestments, mergers and acquisitions.
Tim is a Fellow of the Institute of Chartered Accountants (FCA), Graduate of the Australian Institute of Company Directors (GAICD) and a Certified Exit Planning Advisor (CEPA) with the Exit Planning Institute (EPI).
If you have any specific questions or would like to suggest future blog topics, please do not hesitate to contact Tim on firstname.lastname@example.org.
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