How critical is the role of employee engagement? Is it something that only the large size organizations should worry about? To what extent can a solid employee engagement strategy impact the well being of a company? Also, last, but not least - what it takes to improve the workforce engagement situation? In this article, I will attempt to answer all of the above questions and discover what role employee engagement plays today.
Companies are spending over $700 million each year to better employee engagement level across their workforce (A clear effort and a signal that companies are aware that the situation is far from its best). According to Gallup, organizations whose employees reported high engagement had 25% to 65% less attrition than their peers.
What are some of the areas where employee engagement has a substantial impact?
An engaged workforce is eight to ten times more likely to recommend the company as a place of work. Three to five times more likely to stay late and complete their work - even if it is not expected from them. Engaged employees are more likely to make improvement recommendations and to do something positive for the organization even if it is not expected from them.
Employee engagement risks and myths
There is a myth that only large-scale organizations are truly affected by low employee engagement. The reality is that companies with 100 employees or less can still have 30 - 40% of their staff with low employee engagement levels. Companies with a large workforce take the first place when it comes to employee disengagement - up to 50% of employees at large enterprises have low engagement levels. What is interesting that age wise three age groups are most vulnerable: 18 to 24, 45 - 65, 65 & older (Want to learn how to improve the situation across your Millenials age group - read on here - Why Millenials Are The Driving Force Behind Contact Center Gamification?).
Engaged employees have a substantial impact on several areas: customer satisfaction and client experience, lower turnover, better sales and company financial results. Customer experience (CX) - consider this, companies that have a high or moderate level of employee engagement have CX significantly better than their competitors.
How do you improve employee engagement levels?
Inspire & Motivate -- Connect and align employees with the company objectives, goals, and mission. Create a system to measure, reward, motivate, and reinforced the desired behaviors (Consider what nGUVU employee engagement platform).
Inform & Set Clear Objectives -- Provide your workforce with information that explains what's expected of them. Give clear goals, KPI's and objectives and most important - show how they are progressing toward the goals. Transparency is the key - you need to know how you perform to be able to self-correct (Take a look at how we align KPI's and employee engagement technology). Make sure that your management has a way to track performance too and take corrective action. (take a look at how nGUVU solves this challenge - call center manager dashboard).
Instruct & Train - proper training is the key to success in one of your most vulnerable groups (newly hired talent). The same group usually has the youngest age-group of 18-24 year - also very vulnerable group that tends to reach up to 40% disengagement. It's not enough to train, and there needs to be a constant feedback loop that will supply information on the knowledge gaps, training progress and the need in re-training. Aligning training with an overall employee engagement strategy system is desirable but not critical.
Involve Your Workforce - take actions with employees, allow them to see how they're doing and celebrate their successes together with them. Involve them in the process and let them solve a part of the problems. Even something as simple as a friendly contest, or a congratulation from a colleague, or team recognition can go a long way.
Employ Machine Learning - sure if your team is just a few dozen people and you know everyone as a member of a family (maybe there is no need for machine learning). However, if your company is a few hundred employees or above machine learning would do wonders for you allowing to figure out things that are outside of human reach: tracking engagement at an employee level, recommendations for custom performance goals, highlighting employees at risk and so much more.
Companies spend a significant amount of money - over $700 million goes into the improvement of employee engagement on an annual basis. Lion share of that budget goes into a technology reinforced solutions. Our team at nGUVU would like to invite you to explore our Employee Engagement platform - and discover how companies are using our technology to motivate, engage and inspire their workforce.