The Need To Improve Employee Engagement To Drive Change And Boost Revenues
Experts warn of a rise of voluntary employee departures, dubbed the “Great Resignation,” as the globe struggles to recover from Covid-19. According to recent research, 55 % of the workforce in August 2021 want to hunt for a new job within the next year. To combat the oncoming flood of employee churn, businesses must focus more than ever on developing employee engagement.
The proof is clear. Employees that are engaged perform better, have less burnout, and remain in their jobs longer. Given the significance of employee engagement, we developed the Employee Engagement Checklist: a condensed, evidence-based resource for practitioners to help them execute during the critical period of renewed uncertainty.
Employee engagement is a critical aspect of an organization’s success. In reality, increasing employee engagement results in a tremendous return on investment for businesses. Larger productivity, higher net profit margins, and higher shareholder returns are all tangibly tied to it. It is therefore important to understand what ‘employee engagement’ means.
Employee engagement is made up of five components and may be defined as the extent to which employees:
Why Employee engagement is crucial for all levels.
Whenever we talk of employee engagement, it is assumed we are talking about the frontline or mid-level employees. Senior management experience also needs to be at par with that of their team members. At the junior or mid-level, engagement is usually driven through perks and bonuses or through gifts and designated titles. However, at the senior level, workers have almost reached the top of the ladder, and therefore, perks, gifts or fancy titles have little or no relevance for them.
Engagement at the senior level is not as different from engagement at the mid- or junior level, except in the weightage that is given to engagement activities. It does not matter at what level they are. It is the initial source of engagement or disengagement when employees are appreciated outside their employment.
Employee engagement and its direct impact on performance
Employee engagement refers to the extent to which your workers “work with enthusiasm, go above and beyond, and have a genuine connection to their firm”. Below are few benefits of investing in employee engagement:
Every company wants to recruit the best people to run the show, which means HR leaders are constantly under pressure to hire the best people for the job. Appreciation of labour and recognition of value provided goes a long way towards keeping employees satisfied and preventing them from becoming uninterested and looking for other opportunities.
Pay packages alone are insufficient to keep staff engaged. Large conclaves or team-building activities are not required for employee engagement. Employees are equally motivated to strive for success through timely acknowledgment and performance-based awards, and by doing this, the organization can develop by leaps and bounds.
The work culture in any organization plays a key role in determining its success and profitability. Employees must feel aligned to the goals of the business, not only as individuals but also as a team. Employee engagement activities also come in handy in instilling a sense of belonging.
Employees themselves are the best advocates of the brand or the organization they work with. The voice of the employees is a critical piece of the puzzle in building a strong brand identity and it creates a climate of trust in the employer. It contributes significantly on three fronts – onboarding talent, attracting new customers, and building relationships with new clients.
“Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.” An employee’s experience starts on his/her first day on the job and employers must leave no stone unturned in ensuring that it is a smooth and hassle-free experience. All events participated in, and all milestones achieved constitute the employee experience and they fall under the umbrella of workplace engagement.
Consider all of these variables while developing the work culture of the organization, whether for an HR expert or a member of the executive team. By motivating employees, building a feeling of trust, and allowing them to feel heard, one may see productivity rise. Encourage employees to become organizational ambassadors who try to perform their best work and represent the firm as best they can.
There are various methods to promote employee engagement (every organization is different), but strong communication is at the heart of an effective employee engagement programme, allowing everyone in the organization to provide, understand, and act on feedback. The next step is to learn how to gauge employee engagement using this core knowledge.
Now that you know what employee engagement is, why it’s important, and how you can make a difference – it’s time to get to work. What employee engagement strategies is your organization implementing? Which technologies are you using to improve engagement? These are some of the questions that you and your team can discuss to ascertain whether you are reaping the benefits of implementing an effective employee engagement plan in your organization.