Spend more on your team.
Yip!
Tons of research has been done confirming that happy staff perform better. Better performance leads to higher returns.
I was raised to invest 10% of my earnings into savings.
Even when times have been really tough – I have still invested.
Let’s say you run a sales centric business. If you could increase the overall “happiness” of your business you get (for example) a 10% increase in returns.
Now let’s add some numbers to that.
If your turnover is $1m per annum that would be 100k increase.
Thinking about investing 10% like I mentioned above you should then take 10% of this increased profit and invest it in the happiness of your team.
This could be paying their insurance for a month or buying them all something they really want up to a certain value etc etc etc.
Why?
Simple – by reinvesting and affirming their happiness they will continue to be happy to work for you and so the incremental increase will now be 10% on the new increased amount.
Compound effect over time your returns will grow and grow.
People say you can’t buy happiness. I disagree, you may not be able to buy personal happiness, but through making others happy you can see and measure a return that will make your business happier. The direct outcome of this is that you achieve your targets quicker, freeing up more time to spend with those people that count in your life and thereby, be happier.
So, Can you buy happiness?
BL
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