Employee Engagement Impacts Productivity Levels by 3x
A question that we hear a lot from organizational leaders is if they will be able to determine an actual return on investment when paying for a real-time employee engagement product. In the business world, this is a common train of thought. Every expense needs to be tracked and every result validated.
In the past, it was difficult to measure such things, unless human resources was looking at other hard and fast aspects. For example, using employee retention reports to try and see a correlation between increased employee engagement and employees staying with the company. It was related information, but it still did not answer to any degree of certainty if employee engagement efforts were influencing this or if there were other factors at play.
A better way of tracking employee engagement
A lot has changed in just the last few years as the biggest digital disruption has been in HR software. As a result, we now have access to sources of rich data, generated from the employee engagement software itself, right down to the present time, from which to understand ROI. Artificial intelligence allows for deep analysis of what’s happening internally with every employee, to allow HR to proactively deploy employee engagement campaigns, incentives, and coaching.
While HR wants to make things better for employees, the ultimate goal of increased employee engagement has to do with business benefits, for example higher levels of productivity. A recent Gallup poll revealed that organizations with highly-engaged employees outperform the competition by 147 percent in earnings per share. The proof is there that when employees feel they are listened to and their concerns are taken seriously, the company experiences a high rate of return.
The benefits of high employee engagement
Wait, back up...did the poll say that positive employee engagement boosts profits by as much as 3x?! That’s significant given the competitive nature of most markets and the shortage of talent. Imagine not having to worry about high-performance employees leaving your organization. Or better yet, the new ideas generated by employees who care about their role and put their heart into your company’s success. These reasons alone are worth the investment in an employee engagement product that can track things in real-time.
Outside of profits, employee engagement has many benefits for organizations. We’ve already mentioned how employee engagement ties into productivity and retention. But there’s a lot more. Employee engagement initiatives have quickly become top priority for many organizations, for good reason: this “feel good” state of being connects employees to their work tasks, their colleagues, and the company objectives like nothing else can.
Benefits of high employee engagement can include greater employee satisfaction and loyalty, which help employees remain aligned with corporate goals. When employees are happy with the work they produce for a company, they tend to tell their friends about it -- leading to more success with getting employee referrals for new hires. More engaged employees tend to be more aware of their surroundings, leading to a safer workplace. Employees who are happy and engaged at work are also better at providing customer service and support to your customers too, since they demonstrate enthusiasm about your company. An engaged workforce can also increase sales by as much as 20 percent. There are no limits as to what engaged employees can do for your organization.
Consider how employee engagement impacts your business and its profitability. Do you have an accurate system for measuring it, or is a lot of what you are doing based on speculation from outdated reports or other data?
Get in touch with us and let the Thymometrics team get you started out with our real-time employee engagement solution.
is a new breed of disruptive employee feedback technology. Through real time, always-on surveys and feedback solutions, we provide revolutionary yet simple tools to empower employees whilst providing managers with deep and useable insights to improve business culture, staff well-being, productivity and profitability.
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