Many business owners work every day trying to resolve the common challenges in business. Some challenges include growing revenue, hiring employees, and adhering to government regulations. Instead of coping alone, they can draw upon the benefits of crowdsourcing. One if the biggest challenges relate to employee attrition. Did you know that employees who feel engaged and motivated in their job are 59% less likely to look for a position with a different company within the next 12 months?
This statistic highlights how important it is to be aware of employee attrition, to avoid losing your most valuable assets: the human resource.
Think about it. If a handful of your best employees decided to leave the company tomorrow, what kind of situation would that put you in?
You’d have to do more with fewer resources, in order to keep your current standard of service.
Using crowdsourcing technology can be a highly effective way of keeping up with your organization’s pulse, keeping your employees satisfied, and being the best boss that you can be.
Remember, workers suffering from employee attrition will harm your revenue growth, your profitability, and your overall work environment. Don’t let this kind of dissatisfaction linger in your company.
While the term “crowdsourcing” might be recent, the process itself has been around. Companies in various industries are making use of it to great success.
2016’s ‘State of Crowdsourcing‘reported that consumers and companies were co-creating value together.
“But what is this value?” You might ask. Keep reading to find out.
Benefits of Crowdsourcing
As with all business tools, crowdsourcing works when you apply the right strategies. Otherwise, it could affect your reputation or compromise your business plans. Crowdsourcing technology is now available to promote honest employee engagement. Crowdsourcing allows your employees to answer anonymously about their work environment. Then, you can better assess and integrate healthier work practices.
Here are some benefits of crowdsourcing issues and solutions for your organization:
1. Identifying and Solving Complex Issues
Asking the crowd for answers helps your company identify problems you were not aware of. You might also seek their expertise in solving these issues.
The first step to solving a problem is recognizing its existence, and sometimes, simply listening to your employees will make you aware of problems within your organization that you didn’t even know existed!
On the other hand, listening to every single employee can be an enormous task, especially in bigger organizations. Thankfully, there are now ways to make this challenge considerably easier.
You no longer have to rely on paper-based employee satisfaction surveys. Those are slow and unreliable, and they don’t give you answers when you need them.
However, using crowdsourcing you can now receive feedback from your employees in real-time and respond to it before the problem becomes a more serious issue.
By using this crowdsourcing, you can give employees the ability to write feedback for management whenever they choose.
2. Receiving Feedback
Some businesses find out the hard way their products are not appealing to the customer. This happens when they fail to seek feedback in every step of the production process. Thus, they end up with a beautiful product no one wants.
Seeking feedback from the public allows you to improve your business functions. You can train your staff, alter the products, and follow the market trends. This, in turn, boosts customer satisfaction. Take note, the feedback doesn’t have to be from the public alone. It can also come from your staff. Anonymous staff feedback creates a quality work environment.
These unfiltered suggestions from your staff highlight employee dissatisfaction. As such, fixing the issues will boost office morale and ensure you retain more employees. It can also enhance productivity since the limiting factors will be removed.
Employees quit their jobs for all sorts of reasons, but the best employers value obtaining staff feedback to ensure a quality work environment.
They understand that it’s important to have a dynamic and collaborative opportunity to make improvements and increase overall workplace productivity.
With that said, obtaining anonymous staff feedback is very important to receive honest, unfiltered suggestions.
3. Saves Money for the Company
Crowdsourcing gives you a pool of unlimited talent. These talented professionals can solve your company’s problems at a lower cost.
Nothing sucks away intrinsic reward like a lack of creative expression on the job.
Think about the last time you worked a job where you could only follow orders without your own input. Didn’t feel good, did it?
Provide your employees with an opportunity to be involved in your company’s creative process. You’ll be amazed at what they come up with — and they’ll feel like they’re part of a community instead of a number.
It has to be mentioned. All too often, true talent goes unrecognized until it’s gone, never to return.
Be mindful of your employee’s performance and acknowledge jobs well done. It doesn’t need to be a grandiose gesture — a pat on the back, a smile, and a thank you is enough to increase motivation. Reward your employees with kind gestures and gratification. No one wants to stay in a job, working their butt off, only to get no recognition.
For example, freelance writing and designing platforms have many competitive and creative providers. Thus, they sell their services at affordable prices to beat out the competition.
4. Generate Profitable Ideas
Since every company is looking for the next big idea, you need all the tools at your disposal to get an edge. While your staff is capable of coming up with great ideas, the crowd tells you the solutions they need now. Take for example this current age of selfies. Customer input forced mobile phone giants to invest in improving the front-facing cameras. Now, those companies advertise their front cameras as a reason to buy their devices. You can be sure this technique works.
Learn More About Aligning Your Organization
The benefits of crowdsourcing go far beyond those listed above. Crowdsourcing is breaking traditional business models. It is leveling the playing field for startups, small businesses, and large companies.
Managing a business is not easy, which is why you have a team to help you.
It’s your job to direct your employees’ productivity. At the same time, you have to keep them motivated and inspired. Only then will they produce their best work.
If you don’t know how to practice team motivation, you’ve come to the right place. Implementing proper employee engagement is crucial to your business’s organizational productivity.
Statistics show that when a business engages its employees, it can see up to 20% of increased sales. Make sure you take the following steps to engage your employees.
Its impact is clear in innovation, customer engagement, and solving business issues. Most important of all, it provides value at affordable prices.
Brian Anderson, Chief Marketing Officer at POPin
Image Credit: Paul Bence / Unspalsh