Employee engagement is the foundation of any successful business. Yet, only 15% of employees are engaged with their work. If your staff members are disengaged, it is time to rethink your employee management strategy. In this article, you will learn why employee engagement is vital to business growth.
Increasing Employee Productivity
Gallup found that engaged employees are 21% more productive than their disengaged peers. Employee satisfaction is directly related to workplace productivity. Staff members who feel valued and recognized are more likely to perform better. Employers are starting to see the benefits of employee engagement. They are trying to find new ways to increase workplace engagement and productivity. One such example is the growing adoption of employee recognition software solutions. Recognizing employee dedication and hard work is one of the best ways to engage employees. Tools like Fond or Kudos improve company culture by offering tangible incentives to employees. They are behavior-driven platforms where you can set clear standards for incentives and communicate them transparently with the rest of the team.
Retaining Top Talent
Attracting and hiring top-notch employees is not enough to grow your business. With the rising competition, companies are struggling to retain their high-performing players. According to statistics, 63.3% of companies say retaining employees is harder than hiring them. High employee turnover directly impacts your bottom line. Research says that it costs roughly 20% of an employee’s salary to replace that individual. Most importantly, when the best employee leaves your company, your business loses consistency and its operations suffer. One of the most effective ways to retain employees is to keep them engaged. Employees who are engaged are more dedicated to their positions and remain loyal to their employer. That way, you increase workplace consistency, achieve goals faster, and drive your company forward. You can apply various employee retention strategies.
- Invest in employee wellbeing. Encourage them to adopt healthy habits, such as having enough sleep, eating healthy snacks at work, or working out regularly. To show that you care about them, provide each employee with an annual check up.
- You can also offer various incentives for employee accomplishments, teamwork, effective collaboration, etc. No matter if this is a salary bonus or public praise, rewards mean a lot.
Boosting Company Culture
People who are engaged and satisfied at work are easier to work with. They are eager to communicate effectively and collaborate with the rest of the team. Therefore, it is essential to check in with employees regularly to ensure that your company values align with how they currently work. The goal is to listen to your employees to boost your company culture. Collect employee feedback regularly. They will be glad to know that you care about their opinions, needs, and problems. There are many anonymous surveys to conduct. They will engage employees and encourage them to provide honest feedback. For example, employee engagement surveys measure how engaged your employees are with their job, coworkers, and management. Employee satisfaction surveys identify the root cause of dissatisfaction issues and help you improve your company culture. That could be any activity that resonates with your team members, from virtual birthday parties for your remote workers to a scavenger hunt.
Building a Stronger Brand
Employees who are passionate about their work are your best brand advocates. For example, their satisfaction reflects in communications with customers. Employees who believe in the value of helping their consumers and feel valued by their managers are more likely to deliver better customer experiences. As a result, customers’ perceptions of your brand will grow and they will make purchasing decisions faster. Apart from attracting new customers, satisfied and engaged employees may also attract top talent. They will talk about your company publicly and, therefore, expand its reach. Most importantly, they will refer new candidates to your company. To motivate employees to refer their friends, consider providing relevant incentives for each referral. For example, you can offer additional days off, gift cards, or reserved parking spots to spur their interest.
Employee Engagement Is Vital to Business Performance
Employee engagement is vital to the growth of your business. First, it helps you build a strong company culture. Engaged employees perform better and are eager to communicate with team members. Second, you will reduce employee turnover and minimize the cost of hiring new staff. Finally, you will build an authoritative brand that builds trust with both potential candidates and future customers.
How do you improve employee engagement and satisfaction?
Contributed by guest author Eve Anderson.