By: John Glover (MBA)
We all know the hustle and bustle of Wall Street and the constant fluctuation of stocks, but what if you had the power to make your company perform well on Wall Street? You technically do, and it all comes from how you manage your organization internally. Being a leader in the healthcare industry is critical to monetary performance because how you take care of your employees really matters. Employee satisfaction is the missing piece when figuring out the stock market. High satisfaction can lead to higher performance.
Studies show that companies with high employee engagement performed twice as well as those with low engagement. Companies with the highest employee satisfaction even outperformed the S&P 500. These statistics show that how your employees are treated matters. As a leader, you should care about your organization and how you run it for the good of your employees, but if you think about it from a revenue perspective, running a tight ship is necessary.
Running a healthcare company does not just mean providing a high level of care for the patients but also for your employees. Without your employees, your business cannot succeed. It is your responsibility to support them mentally, emotionally and financially. Patients’ lives and your company’s values are on the line.
“The healthcare industry has rapidly transformed in a short period of time, and one of the most critically overlooked ways it’s changed is in the shift from a predominantly nonprofit community focus to a nationwide for-profit. The majority of the healthcare leaders I’m speaking with daily are struggling to figure out how to manage this shift within the context of retaining and developing their clinical talent,” explains DoorSpace CEO Sarah M. Worthy.
The simple nature is that healthcare leaders need to truly care and value their employees. It is called healthcare for a reason: care is at the heart of the profession. Whether you are on the front lines or a manager, it’s important to figure out your priorities. You need to provide a safe space where employees can grow, learn and be advocates for their patients’ health. Stock success is a chain reaction, and in the healthcare system, you have to make internal updates before you can reap the benefits publicly. How can you make the industry well-rounded?
“These leaders know the value and understand how a bad employee experience impacts their stock price and their ability to attract patients. Where they’re facing roadblocks is primarily a lack of innovation to date both in strategies as well as technology for managing the future of work and knowledge workforces like our healthcare workforce. Unfortunately, the focus from investors on quarterly share prices limits what these leaders can do to invest in that necessary early innovation and adoption of workforce management.”
Another important factor to consider is how money plays a role in employee satisfaction. Frontline workers deserve to get paid fairly for their sacrifices and skills. Working your way up to be a top dog on Wall Street ensures that your business is doing well, and that employees’ paychecks are reflecting this success.
The stock market is constantly changing, and it can be hard to navigate these fluctuations. Having a little control over your company can give you a little peace of mind and can really benefit the organization as a whole. The healthcare industry deserves a leader who has the employees’ best interests at heart, both emotionally and financially. Keeping your employees in mind always can impact your stock more than you realize.
Published by: Nelly Chavez
