At a professional services firm, your people are your most valuable asset.
The success of your firm relies not only on hiring exceptional people, but also on retaining those people and helping them reach their full potential.
However, the long hours and intense pressure at professional services firms can prevent even the most talented individuals from working at their full potential. Many high achievers get overwhelmed, develop poor habits, and suffer from chronic stress, anxiety, and exhaustion.
The Largest Threat to Employee Productivity
McKinsey estimates that failing to prioritize employee well-being can cost an organization up to 55% of average annual pay, with most of these losses being due to reduced productivity. The damage can be enormous.
For example, consider a professional services firm with 1,000 employees and an average annual pay of $200,000 per employee. Failing to prioritize employee well-being could cost this firm up to $110 million per year in lost economic value ($110,000 per employee).
Professional services firms that fail to prioritize employee well-being suffer from lower productivity, lower engagement, and higher turnover.
Taking care of your employees is not only the right thing to do. It makes economic sense.
Schedule a Call
Most professional services firms lose millions of dollars every year due to productivity losses that are preventable. If your firm wants to reduce these losses, we should talk. Click the button below to schedule a call with our Founder Pete Leibman.