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relationship It has been a consistent part of professional activity since the beginning of civilization. Egyptian workers had to work together effectively in dragging the stones into the pyramids of Giza. In the Middle Ages, serfs had to work together to grow and distribute enough food. Arctic explorers had to support each other in locating his two poles on Earth.
In the 21st century, the need for relationships in the workplace remains the same, even as remote workspaces and asynchronous work schedules change the way workers build and maintain relationships. yeah. Despite these challenges, healthy employer-employee relationships must continue to be a priority for modern professionals, not just because they make their jobs easier. It can also directly affect a company’s bottom line.
What are Work Relationships?
When you hear the phrase “workplace relationships,” many images may come to mind. For some, a close relationship with a colleague may come to mind. Others may think of a great boss they had in the past. You may also recall a group event you attended.
These are all examples of workplace relationships. Forbes contributors and editors Chauncey Crail and Rob Watts, respectively: define the concept of relationship “Employee relations are concerned with building positive relationships and interactions between employers and employees, and at a broader level, help foster a sense of community within an organization.”
In other words, the umbrella term “work relationship” applies to all positive relationships and interactions within the workplace. This is both a vertical and a horizontal concept.
Vertical relationships are important as authority figures within the enterprise interact and build connections with those higher or lower on the org chart. Horizontal relationships are also important, and they connect colleagues within teams, across departments, and even across company branches.
You can also extend this idea to your key clients, customers and vendors. There is no doubt that the quality of these working relationships can have a huge impact on your happiness and success.
The Nuances of “Good” Work Relationships
Another point to note here is understanding what a “healthy” relationship looks like at work. This term does not mean that everyone is your best friend. In fact, just like natural family relationships, professional relationships take many forms.
Some of my co-workers have such strong ties that they remain friends even outside the office. Some remain acquainted with other professionals, while others rub their colleagues the wrong way. Such human connections are normal.
The key is to maximize your chances of getting the most out of each relationship. Coaching guru Michael Bungay Stanier, better known as MBS, wrote in his book,How to work with (almost) anyone. “
Bungay Stanier calls this optimal relationship goal “BPR” (Best Possible Relationship). “Working in BPR means working in intentionally designing and managing how we interact with people, rather than just accepting what has happened. We can build restorative relationships, which are the foundation for happier, more successful partnerships.”
Workplace relationships come in all shapes and sizes. You don’t have to be best friends with everyone to keep them healthy. We just need to focus on her BPR that each connection provides.
How do healthy relationships in the workplace affect bottom line?
It’s easy to see the value of healthy relationships at work. When co-workers have strong relationships, they are happier. They have a stronger loyalty to the company and feel empowered to succeed within it.
The question that remains unanswered is what impact this will have on the company’s bottom line. Consider how some of the key benefits of working relationships can have a positive impact, especially in terms of your bottom line.
1. Healthy work relationships lead to better retention
Loyalty within an organization increases when the workplace is run on healthy relationships. When people connect in positive ways, their investment interest will naturally increase and they will not want to leave.
This brings the simple (but significant) cost factor of better retention and lower turnover. In the SHRM calculation, the soft and hard costs associated with employee turnover are 3-4 times the salary of the position. This is a huge cost to your business.
Strictly speaking, this is a form of cost reduction rather than increased revenue, but it is still important to consider. Improved retention through healthy relationships keeps employees in the company longer and reduces hiring costs in the process.
2. Healthy Work Relationships Boost Engagement
When employees invest in each other, they feel part of a larger organizational culture. This offsets the profound loneliness that many modern workers have.
Remote workers often feel that disproportionately isolated And most people find building and maintaining working relationships more difficult than in a face-to-face environment. When companies encourage and facilitate building relationships within their workforce, they combat this tendency to loneliness and promote engagement and well-being.
happy employees Engagement increases and impacts revenue. They tend to be more productive, collaborate better, and work more effectively with customers.
3. Healthy working relationships promote employee development
Effective vertical relationships in the workplace are also important for continued development. The more employers can understand their employees, the better their ability to foster their professional growth.
On the one hand, when problems do arise, workers can confidently communicate their problems and needs to their employers, opening the door to working together towards a solution. On the other hand, when things are going well, employees and employers can work together to find ways to proactively grow professionally.
Improve employee efficiency by addressing issues faster and improving existing skill sets. In either case, the result is net positive for the company.
4. Healthy work relationships lead to deeper insights
It’s no secret that diversity improves a company’s bottom line.In fact, statistically diverse companies happy employees.
However, to maximize the power of the DEI initiative, recruitment practices need to be reviewed. You must also develop healthy working relationships.
When a diverse workplace prioritizes good vertical and horizontal connections between colleagues, they are exposed to different perspectives and worldviews. Employees with diverse backgrounds and experiences feel empowered to speak up and share their personal insights.
How to improve relationships at work
Understanding the impact of healthy relationships at work on bottom line is one thing. Improving employee relationships to capitalize on these economic gains is another challenge. If you’re not sure how to improve your relationships at work, here are some ideas to get you started.
1. Start on the Right Foot
In his book How to Work With (Almost) Anyone (mentioned above), Bangay Stanieh provides a definition of BPR and a blueprint for improving healthy relationships in the workplace. This centers around what MBS calls the “Keystone Conversation”.
This is a conversation that should take place early in a working relationship. It aims to quickly delve into deep and important work-related questions, such as learning how a person has grown from past failures, or discovering personal habits and preferences. .
A Keystone Conversation accomplishes some important things early in a working relationship. It shares responsibility for relationships, fosters individual understanding, and gives permission to talk about serious issues when things are good and bad. If you want to build a structure for improving relationships at work, this is a good place to start.
2. Set clear expectations
It’s all about expectations. Especially if we’re talking about connecting with colleagues who need to collaborate on a regular basis. When you set expectations, you create a framework within which working relationships can be effectively maintained.
It’s important to remember here that work relationships aren’t all rosy. Sometimes they are pragmatic, and sometimes they simply take advantage of undesirable circumstances.
No matter what relationship you are working with, be sure to: set expectations. Be clear about what kind of help and support the other person should expect from you. Provide feedback, communicate frequently, and keep everyone on the same page. To keep the relationship running smoothly, understand what everyone expects of you and what others expect of you, including yourself.
3. Develop yourself
Yes, we’ve already pointed out that healthy relationships at work are outward-facing activities that focus on the other person. However, to participate in and build healthy relationships, we must first begin with a deep, deep, and reflective look within ourselves.
What is field of relationship building what do you need to focus on? Need to hear better? Are you lacking emotional intelligence? Need better interpersonal skills?
Identify key areas where your ability to build relationships is lacking. We will then work to improve these items in order to contribute to a healthy and profitable workplace.
Increase profits by improving workplace relationships
Workplace relationships are important. On a personal level, we support you in having a positive experience in your work.
At a company-wide level, improving workplace relationships is also a key factor in maintaining a healthy revenue stream. They ensure that the company’s key assets (employees) remain positive, focused and efficient while collectively working together.
post Healthy workplace relationships improve bottom line. Here’s how: first appeared in Deadline.