Even the best, most successful enterprises experience periods of downturn. Rough patches aren’t a sign that a business has failed, rather, they often mean an enterprise is evolving, changing its business model and working to optimize its staff. Whatever the reason, exceptional companies are those that can rebound from a low period to a place of greater success than they were before.
At BetterWorks, we think improving employee morale should be a top priority after a downturn, because employee engagement is key to sustaining long-term growth and success. Even more, goal setting software is a valuable tool for inspiring optimism, innovation and enthusiasm across teams. Here are three reasons why:
1. Regular Feedback Shows Investment
Regular, consistent feedback is essential to the success of any enterprise, whether it is exploding with new business or struggling to get ahead after a slower period. In fact, data from OfficeVibe showed companies that implement regular employee feedback see 14.9 percent lower turnover rates, and 43 percent of highly engaged employees receive input at least once a week.
Companies that share regular feedback with employees are better equipped to improve employee morale after a low period. By sharing observations regularly, companies can show employees they are more invested than ever in their career growth and improvement. Additionally, goal setting software can make feedback discussions more productive, and help employees realize how their performance is directly tied to their upward mobility in their once again thriving company.
“Regular, consistent feedback is essential to the success of any enterprise.”
2. Goal Visualization Drives Motivation
Once an organization is back on the up-and-up, leaders need to make motivating employees a priority. Fortunately, goal setting software is a valuable motivational partner for any enterprise. Using this type of technology, business leaders can illustrate to their staff not only how their individual goals relate to company goals, but how those larger business goals have evolved and expanded to accommodate renewed success. Given the opportunity to visualize business growth and understand how their hard work has a direct impact, employees are likely to experience a spike in their morale.
3. Appreciation Earns Loyalty
Employees need to feel appreciated at all times, especially after a downturn. HubSpot shared data that revealed 69 percent of staff say they would work harder if they felt their efforts were being better recognized. After a low period, workers often feel frustrated, overworked and unappreciated. However, goal setting software can help leaders understand how hard their employees have been working and how their individual or team-wide contributions made a difference. With these insights in mind, leaders can then reward employees, teams or the entire company for their efforts and resilience.