Satisfied employees mean satisfied customers, which leads to profitability.” – Anne M. Mulcahy, CEO, Xerox
Cultivating and maintaining a good company culture is paramount to the success of a business. Research by Deloitte suggests that “88% of employees believe a distinct corporate culture is important to a business’ success”. Additionally, companies with a strong company culture tend to have happier and more fulfilled employees.
As such an important element of a successful business, it makes sense to utilize any and all resources in order to improve and nurture a positive company culture. For example, sales leaderboards, if used correctly, can be a valuable tool.
Below are 5 ways that sales leaderboards promote a good company culture.
Increase transparency and accountability
A study by Harvard Business Review showed that 70% of employees are more engaged when management is consistent and open with communicating company updates and strategies. If employees are more aware of all company goals, it allows them to feel more purposeful in their contributions to the company. Having more transparency via sales leaderboards also allows everyone to be on the same page and thus be more productive and effective both individually and as an overall team.
Visualizing company data is also a great way to increase accountability because everyone can clearly see what all employees are doing and how well they are doing it. And when leaderboards are tracking the right metrics, this has a generally positive effect on the employees and general work atmosphere.
Another great way that leaderboards contribute to company culture is by giving recognition for good performance and other relevant metrics. It is important for employees to feel appreciated and noticed for their hard work. A study by Aon Hewitt revealed that not feeling appreciated is the main reason that many Americans chose to leave their workplace. In addition, 65% of people reported that they did not receive any recognition for good performance. Sales leaderboards are an effective and exciting way to combat this statistic and ensure that employees are being properly recognized for their work.
Since sales leaderboards create transparency throughout a company, it becomes more natural for employees to work together in order to achieve common goals. When everything is out in the open employees are encouraged to collaborate rather than work against each other.
Furthermore, sales leaderboards should be used to highlight not only individual performance, but also teams. Doing so contributes to having a friendly and teamwork-minded environment that places value on achieving company goals through collaboration and combined efforts. Via sales leaderboards, teams can easily visualize their performance and its overall effect on the company which will likely reinforce the power of collaboration.
Provide instant feedback
Leaderboards provide real-time results and thus instant feedback for employee performance. This has been shown to boost motivation and keep employees more engaged. Instant feedback allows people to immediately see how they are doing; if they are performing well they can celebrate and continue to progress, and if they are performing poorly they can quickly course-correct and identify patterns that could help them to improve in the future. Either way, employees have control and ownership over their performance and this will likely result in happier and more productive workers.
Increase employee engagement
A study by the Society for Human Resource Management reported that “it costs the equivalent of 6 to 9 months' salary to replace a disengaged employee, plus an additional 90 to 200 % in long-term expenses”. This should be reason enough to promote employee engagement, and additional studies show that high employee engagement and good company culture go hand-in-hand.
Sales leaderboards (again, when used correctly) have been proven to increase employee engagement by providing meaning and purpose in a visual and aesthetically pleasing manner. It also adds a fun and social element to the workplace that help to counteract boredom and apathy amongst employees.
Company culture isn’t just a buzzword–it’s an increasingly important factor in determining the success of a business. Good company culture leads to higher employee retention, engagement and motivation. It also promotes productivity and can even lead to an increase in profit.
Through the use of sales leaderboards, you can promote better company culture and encourage desired behaviors from your staff.
So, if your goal is to build a stronger company culture and have more engaged employees who are aware of their progress towards key targets, then leaderboards may be just what you need. If you enjoyed this blog and want to learn more, simply reach out to us via the website chat function or by requesting a demo. We’ll be glad to explain how leaderboards can be a driver of growth in your business and how we can help you align them with the right metrics and behaviors. Thanks for taking the time to read, we wish you success and motivation on your road ahead.
Love this blog and want to learn more about how leaderboards can help your company thrive? Check out SalesScreen and discover the many benefits of incorporating sales leaderboards into your office today.