ROI and Value of Engagement
Editor’s note: This post was updated in July 2017.
At this point, there’s little chance that you haven’t heard the term “employee engagement” and don’t at least have a general idea of what it means. But if you’re like most company leaders, you’re still uncertain of how to define it and use it to generate a profound impact on your business.
Well, listen up.
Forget everything you’ve heard. Forget everything you’ve assumed. Employee engagement isn’t about showering your workers with office perks to make them happier. It’s about appealing to their deep-seated motivations to draw out true engagement that produces better work, culture, and profit.
Here’s what you need to know:
Did you catch that part about “positively impact[ing] the company vision and goals?” When employees are engaged and committed to the vision and mission of the company, a subsequent path to value ensues:
There is a direct and tangible added business benefit to organizations who invest in their employees. The stats say it best:
Conversely, disengaged employees come at a measurable cost:
Engaging your employees may not seem like your most urgent priority, but how much can you afford to lose if you let disengagement go unaddressed?
The best way to know if your employees are engaged? Ask. Employees want to feel like they have a say and a stake in the game. The thing is, surveying your employees requires more than just a once-a-year poll of arbitrary questions. To realize true value from your employee engagement, you must measure it first, then set tangible goals to improve the challenge areas that are [or will eventually] negatively affect productivity and retention. Start by developing a sound strategy and commitment to regularly gathering feedback that helps you:
In today’s professional landscape, employees demand to be engaged—to have a sense of purpose and utilization in their roles that makes them feel a part of a thriving culture and company. And they’ll go somewhere else if they don’t have it. Lucky for you, what’s good for your employees is also good for your business. Don’t wait to build your employee engagement strategy for better business value. Your business depends on it.