SME leaders in seven countries believe that quality of life is a major strength in boosting their attraction, competitiveness and performance according to a Sodexo Benefits andRewards Services/TNS Sofres survey.
For the first time ever worldwide, 4,800 leaders of small and medium-sized enterprises with 10 to 100 employees were polled on quality of life at work. The survey was conducted in seven countries: Brazil, Chile, France, India, Mexico, Romania and Turkey.
Key findings of the survey revealed:
- 91 percent thought that improved quality of life ensures a better work climate
- 86 percent thought that improved quality of life leads to increased productivity
- 76 percent thought that improved quality of life boosts their attraction as an employer
- 70 percent thought that improved quality of life results in higher revenue
Denis Machuel, CEO Sodexo Benefits & Rewards Services said:
“As world leader in quality of life services, we wanted to conduct this survey specifically targeting SMEs. This highlights the issues confronting them every day, and in general demonstrates that quality of life does not just matter to large multinationals. For businesses of all sizes, quality of life must remain a priority in order to stay competitive.”
The survey showed that even incremental and low-cost improvements in quality of life have a real impact on SMEs performance, and revealed that SMEs leaders who have introduced measures that enhance quality of life reported their employee productivity, recruitment, revenues and business reputation had sharply improved.
Sodexo believes the smaller the firm, the more important it is to take steps to improve employee quality of life. Drawing on the survey’s results it has provided a number of key ways and steps SMEs can adopt to improve both their competitiveness within the market place and their overall business performance.
Six key ways for SMEs to improve competitiveness:
- Recognition: 95 per cent of SME leaders thought that highlighting and recognising employee efforts and accomplishments will improve business competitiveness.
- Physical environment: 92 per cent thought that improving comfort and safety in the workplace will improve business competitiveness.
- Staff development: 91 per cent thought that promoting staff development and training will improve business competitiveness.
- Health and well-being: 87 per cent thought that helping employees take care of their health will improve business competitiveness.
- A good work/life balance: 84 per cent thought that helping employees enjoy a better work/life balance will improve business competitiveness.
- Socialising: 70 per cent thought that promoting culture and recreation will improve business competitiveness.
Four key steps show how SMEs sharply improve business performance:
- Allow employees to organise their private life
- Recognise staff performance with benefits, shopping vouchers and rewards
- Improve staff standard of living
- Give staff healthy and balanced meals
To download the survey’s findings, please click here.