This has a significant impact on productivity, morale, profits, which in turn boosts the overall performance of the organization.
There are many factors at the workplace that drive engagement and these include:
- Employee and manager relationship
- Challenging work environment
- Focus on customers
- Outstanding performance recognition
- Career development opportunities
Businesses have started realizing the significant impact employee engagement can have on business performance and bottom line. Improving engagement has become a top priority for all businesses. The risk of ignoring it and not funding it properly are just too high.
- A 5% increase in employee engagement can result in 3% increase in revenue growth.
- Highly engaged sales teams are more likely to exceed sales goals by 4% average.
- 36% of engaged employees are most likely to stay at an organization and contribute to its growth.
- Manufacturing units of companies that have higher engagement report greater efficiency. They have 75% fewer quality defects and 26% less safety related compensation claims.
Focus on employee engagement across all levels
The focus on employee engagement must happen across all levels of the organization.
Although real change happens at the local workforce level, managers and leaders need to set the tone from the top. Managers need to work with employees to recognize the barriers to engagement and provide opportunities to dismantle them completely.
As employees are aware of the processes and systems used by organizations to interact with customers, they may be able to provide the best ideas and suggestions. These ideas can be maximized to improve performance and ensure better workplace experience.
Get employee opinions and act on them
When companies ask employees their opinions and suggestions, they expect them to act on the results of the survey. Most organizations collect data and information that is not relevant or difficult to implement. This can defeat the very purpose of a survey.
Information about the results of the survey need to be openly communicated to employees. This can enable them to come up with solutions to problems that are affecting employee engagement and business performance.
Define engagement goals
The managers need to define the engagement goals in realistic terms. The engagement goals must be meaningful to the day to day activities at the workplace.
The managers can discuss the goals at weekly meetings and during individual interactions with employees so that they become an integral part of the workplace.
When companies start transforming the work experience of employees into ones that are motivating and fulfilling, it allows employees to bring their best to work each day.
Such employees are truly the best assets of a company and managers must use every opportunity to recognize and appreciate their efforts. This can greatly enhance employee engagement.
Companies that embrace employee engagement supported by integrated tools provided by PEOs are reaping the benefits.
The rewards of using these programs include enhanced productivity, higher customer satisfaction, better financial results and higher employee retention. These combined rewards also enable the company to gain competitive advantage.