Small and Smart Wins
Fierce competition and rivalry between organizations often foster a take-no-prisoners, high pressured work environment to drive financial success. However, extensive research on organizational behavior suggests the complete opposite. It reveals that having a tough, cutthroat work culture may be a successful short term strategy for for boosting workforce productivity but these short term improvements soon evaporate and then a negative impact on productivity is experienced.
According to the American Psychological Association, high pressured firms incur 50% greater costs in terms of healthcare expenditure than other firms. What is even more concerning is that almost 60–80% of workplace accidents happen due to stress, fatigue and tension. It is no secret that workplace stress leads to cardiovascular diseases and metabolic syndromes.
What HR professionals and members of top management should understand is that every employee is not an urgency addict. Meeting tight deadlines may increase the engagement rate for some employees, but it’s not normal and definitely not a great strategy to boost productivity of the work staff over a period of time especially over an extended period of time. Read more about this in the Harvard Business Review article: https://hbr.org/2015/12/proof-that-positive-work-cultures-are-more-productive
Another implicit cost a firm incurs due to stressful work atmosphere is lack of loyalty. A study conducted by Centre for American Progress states that these firms have excessively high turnover rate, often exceeding 50% or more. Employees reject promotions or resign to go back on the job market, thus leaving the company with additional costs and responsibilities to hire and train new candidates.
Creating the Shift
Building a positive work culture is not rocket science. It’s the small things that actually matter and you can start by taking baby steps towards fostering a culture that keeps your employees happy and content.
1) Start by Defining your Legacy
President of Human Resource Solutions and author of ‘Suddenly in Charge: Managing Up, Managing Down…