You know that employee satisfaction is critical to your bottom line. The happier your employees are working for your company, the harder they’ll work, the more loyal they’ll be, and the less likely they are to leave to find work elsewhere. Companies that do not emphasize employee satisfaction tend to have a higher turnover rate—miserable workers won’t stay around for very long. Unfortunately this means higher recruiting and hiring costs as well as training costs. Plus productivity will be reduced while you’re looking to fill empty positions and your other employees might get stressed with the extra workload, reducing morale. None of this is good for your bottom line.
Effective Cash Management as a Solution
Employee satisfaction can be created through the use of many different methods. You could create contests, give promotions and raises, offer perks like flexible hours and the use of a company car, computer, and cell phone, have weekly pizza lunches, or do a number of different things.
You might not think of it as a method of increasing employee satisfaction, but effective cash management can actually keep your employees happier, too, by reducing workloads, reducing stress, and increasing security.
Cash management solutions aren’t just beneficial to your cash flow, efficiency, and profits, they’re great for your employees, too.
Higher Efficiency for Easier Work
Being overworked is a major factor in employee dissatisfaction. Cash management can help you take a load off of your employees’ shoulders. By automating your cash handling solutions, such as processing transactions, counting floats, and reconciling daily cash, your workers will have to do less manual work. They won’t have to come in early just to count cash or stay late to count and double count your profits to find and fix errors that occurred. Increased efficiencies create happier workers.
Automation Leads to Less Stress
When there are long lines of customers waiting to purchase, your employees can quickly become stressed. They have to work at lightning speed and multi-task or customers could easily grow impatient and rude. They might not be able to spend enough time counting and sorting money so risk making miscalculations. They might worry about having to pay shortages because of these errors while processing payments. They’re probably also stressed with being responsible for counting your money at the end of the night, too. If anything goes wrong and some of your money goes missing, they might be to blame, even if they did nothing wrong. Manual cash management isn’t good for morale.
But with cash management solutions, handling money will be a breeze because the entire process will be automated. Transactions will be processed quicker so customers will be happier and the machines will do all of the counting and sorting, so there won’t be any errors or anyone to blame for missing cash. This will lead to higher employee satisfaction.
Better Security Will Make Them Feel Safer
As an employer, it’s your responsibility to create a safe and secure workplace. You definitely have a problem if you have a high turnover rate because your workers don’t feel safe at your establishment. Cash management solutions can increase your security in many ways, making your employees feel safer. A cash recycler, for example, can double as a vault to deter robbers and also eliminate the need for risky trips to the bank late at night. A counterfeit detector can also eliminate the chance of fraud, so your workers won’t have to worry about accepting fake bank notes. And a fully automated system will ensure full accountability during the cash handling process, so no one will have to worry about being accused of theft, either.