Once you land great employees, you don’t want to lose them, right?
But for you to do that, you have to keep them highly engaged.
Insightful findings by Gallup on the state of the American workplace showed that engaged employees are more present and productive, they are more attuned to the needs of customers, and they are more observant of processes, standards, and systems. When these attributes are taken together, it yields an astounding 21% greater profitability.
Now, how does employee morale produce this snowball effect?
To understand better how engagement impacts company revenue, the following are typically experienced by some companies with high engagement among their employees:
- Reduced Number of Absences – Absenteeism among employees cost organizations thousands of dollars in missed production or lower revenue.
- Increased Workforce Productivity – Production is generally higher when employees work in a positive and enjoyable environment. This is the reason why companies design programs to promote high engagement because they know that this will help in achieving departmental and organizational objectives. When employees are producing more, their potential for earning more and getting promoted increases. And when they generate more, eventually it will have a positive impact on company revenue.
- Lower Employee Turnover– The income generation and productivity outcome of the company are seriously affected whenever the employee turnover rate gets higher. When employees leave, they take with them the institutional knowledge and skills that helped contribute to the achievement of the company’s goals and target revenue.
How Launching an Online Company Store Boosts Employee Morale
Now, you may ask, what then, are ways to increase morale among your workforce? When you search for ways to increase morale in the workplace, you’ll come across ideas like more transparency, better communication, and stronger incentives. However, one practice that rarely gets the attention it deserves is an internal company store.
An online company store program is the best and easiest way for you to manage your branded merchandise, like apparel and promotional products. It can also be your employees’ go-to place whenever they want to order official branded materials for trade shows and other events.
With online stores, you can even award points and gift certificates to cultivate brand advocates. Branded swags can also invigorate team building activities like sports fests, retreats, company parties, etc. With a little touch of creativity on your end, receiving your branded items will surely boost employee morale.
More importantly, it is also a surefire win for your company. Why? because employees get to promote your company and brand every time they use your promotional products. Employee advocacy is just a tried and tested method of marketing.
You can benefit greatly from launching an online company store if you’re looking for unique and creative ways to reward your hardworking employees. Initiate reward programs where workers can earn points or gift certificates for a job well done, or a specific target or goal met, etc. and these points can then be redeemed in your online store so they can buy whatever they want. This is a great way to develop deeper relationships with employees who can eventually be your brand champions.
Knowing that a company store can lead to boosted employee morale and simplified ordering, you may find it certainly worth looking into. But you may hesitate, thinking that setting up a company store is a tedious task.
Truth is, having an online company store provides you with the ease of real-time inventory and a complete record of all transactions. There’s no need to think about minimum orders and the availability of promotional products or branded merchandise as they can be delivered on-demand.
And as opposed to what you’re thinking, you will not be responsible for managing the inventory or fulfillment. The online company store is run by third-party operators (in this instance, Greco Promotions), giving you the utmost convenience by taking the logistics of the platform out of your hands. An account representative will just coordinate with you on how you want to design the store, choose the inventory, and direct your employees to the site.
Launching an online company store to incentivize top performers or appreciate employees who go the extra mile can do wonders for your business. Remember, employee appreciation is one of the critical keys to employee engagement. And when employees are engaged, they are more productive and more capable of contributing to your company’s bottom line.
At Greco Promotions, we take the stress off your plate. If you aim to engage your team and reinforce your brand at the same time, you can’t go wrong with our online company store program.
We take care of the logistics like inventory, incorporating brands and shipping. We also offer various promotional products because we are an already established and trusted distributor of promotional items for over two decades.
Essentially, we do all the work on our end, giving you all the time to focus on the things that really matter for your business. Contact us at [email protected] and we’ll help you design a creative way to boost morale among your employees.