Happy employees honor customers and customers return the favor with purchases, not just one time, but regularly. They know they are respected and treated well. They tell their friends to shop. Dollars flow into the cash register, profits increase, and the company grows. Everyone is happy. Research shows there is a one to one correlation between happy employees and significant positive financial returns.
Year after year, management measures the happiness level of MarketStar employees. When it is high, profits are excellent. When morale is less than optimal, profits are lower as well.
Two powerful concepts are highlighted in this article. In sum, caring for employees is the right and best approach from both a benevolent and business point of view. Entrepreneurs who follow this wise model will be called blessed by their associates and will also enjoy the personal satisfaction of leading a highly successful company.
How well does your business follow the Service Profit Chain? I welcome your thoughts. You can reach me at www.AlanEHall.com or connect with me at @AskAlanEHall.
Alan E. Hall is a co-founding managing director of Mercato Partners, a regionally focused growth capital investment firm. He founded Grow Utah Ventures, is the founder of MarketStar Corp. and is the Chairman of the Utah Technology Council.
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