Why Connection is Good for Business
Connection improves employee and business performance. A study conducted by MIT researchers followed 2,600 IBM employees for an entire year, and they found that the more socially connected the IBM employees were, the better they performed. Additionally, a Gallup study compared business or work units scoring high in employee engagement versus low and found that those in the top half had nearly double the odds of success when compared with those in the bottom half. They noted significant improvement in customer service levels, productivity and profitability.
Connection helps you keep top talent. In a professional work environment, the cost of replacing an employee is estimated to be as much as 30-50% of their annual salary. As the saying goes, people don’t leave their jobs, they leave their bosses and co-workers. By improving the connection with and between your employees, you can make significant contributions to retaining top talent and offsetting the huge cost of employee turnover.
Connection improves decision-making. The more people are involved in making a decision, the more chances that the decision made will be the right one. The difference between a good decision and a poor one lies in a leader’s ability to engage or connect people. Connection allows leaders to consider diverse opinions and perspectives resulting in fresh, original insights imperative to good decision-making.
Connection helps people enjoy their work. Research shows that sociability between co-workers creates a more pleasant work environment in which people are more likely to put in extra effort to complete tasks, demonstrate more creativity, be generally more productive, be more likely to be loyal to their employer and less defensive to criticism received from coworkers and superiors.
Connected employees are self-motivated. When people feel that they belong, they tend to be more committed to their work and thus, more likely to be self-motivated. Studies show that when employees are internally motivated, the need for external incentives, such as monetary rewards or close managerial scrutiny, are greatly diminished.
Connection helps diffuse workplace conflict. According to a survey by the American Management Association, managers spend as much as a quarter of their time managing conflict. By learning how to establish a dialogue with and between your employees, you can help transform seemingly unresolvable situations into golden opportunities to build positive relationships, making your job easier, more productive and more enjoyable.