Your employees are an integral part of your company. Hence, employee engagement makes some real sense and is one of the most significant factors that affect business success.
Employee engagement is not just a virtue but it is the name for employees feeling connected to the job. It works to create a great sense of fulfilment and well-being among employees towards various specific job duties as the result of a rightful employee engagement approach.
The benefits of employee engagement are enormous. According to the Harvard Business Review, more than 70% of entrepreneurs believe that the right employee engagement strategies at the right time have firmly driven amazing business success.
Yes! It is that important for your business. Following are the ways in which employee engagement can let your business stand out when compared to the competitors.
Highly satisfied customers
If there is a high rate of employee engagement in your company then it can help make your customers happy and content. How is it so?
Well, the more your employees are happy, the better they perform. And, the better they perform, the more satisfied customers you get. Finally, there is a huge increase in the percentage of repeat purchases and an outstanding level of word-of-mouth marketing.
A prominent case-study reveals that there’s the chain of department stores which experienced a better rate of customer satisfaction, as the customers themselves said, it happened when the deeply engaged employees helped them.
Lesser employee turnover
If you want your business to get rid of turnover and employee absenteeism then it’s time to pay attention to employee engagement without anymore delay. It was possible for one Fortune 100 manufacturer to reduce its employee turnover rate from 14.5 to only 4% and cut down the employee absenteeism rate in half with the help of better employee engagement.
Turnover and absenteeism are the two main reasons behind enhanced labour costs and loss of productivity. You must deal with an opportunity cost when the employees are out sick or jump ship early in their tenures with your organisation. With the means of contrast, longer tenures and lesser absenteeism can together let your company come up with the effective and streamlined tasks.
When it comes to engaged employees, they are less interested to find any new job, unlike the disengaged ones. Also, the workers whom you are able to retain for a longer period of time become highly valuable.
It is evident in terms of any smart investment that the dividend grows in a directly proportional way along with the value of the investment. This is not just true for financial investment but also holds the same significance for human capital investments.
If there’s a high level of loyalty then it leads to more intricate institutional memory and a huge set of interests. It means that your employees become more desired to see your business succeed.
Profits are massive
What’s the end result of a highly engaged workforce?
It’s nothing but a much healthier bottom line. Along with enhanced productivity, lesser labour costs, and high customer satisfaction, any business can improve the profit margins up to a great extent. Hence, employee engagement can altogether lead to let your company relish an extraordinary level of competitive advantage over your competitors who don’t believe in employee engagement.
More productive employees
If the employees who are working in your company are more productive then it can further increase the overall productivity of your business. One of the best ways to make them more productive is working on employee engagement. The more engaged your team are, the better they will work. A few of the most proven ways to help build engagement are:
- Assign challenging and fulfilling work to them.
- Explain fairness
- Share the responsibilities for decisions and results.
- Training and opportunities for advancement are very important.
If employees are engaged then work seems to be always easier in every aspect. It results in lesser stress level and people tend to feel stronger to deliver more work. Finally, the productivity of your company increases.
There are studies which suggest that engaged employees undergo lesser safety violations and incidents. It further results to lesser lost time, higher attendance, and decreased associated costs. Hence, getting the right extent of employee engagement is essential.
Moreover, the companies which are safer also experience higher productivity. It’s because the occurrence of threatening incident which can interrupt various operations get decreased.
Thus, you must maintain an engaged set of employees to ensure that yours is a safer and highly profitable workplace. It can further boost up your business up to a great extent also.
Open communications are common
If there is no meaningful discussion with leaders then employees eventually lose interest in their job as they feel like nothing but some puppets.
On the other hand, when it comes to employee engagement then getting involved with employees and communicating with them is one of the prominent aspects.
Thus, with the right kind of employee engagement, you must make sure that your business is giving rise to perfect channels for authentic and specific both-way feedback.
Also, there can be constructive criticism in real time with perfectly curated employee engagement strategies.
With such direct and open communications, employees can speak up openly and thus, they start taking up their job sportingly. This is how you go a level up than your competitors.
As the part of an ideal employee engagement idea, it is recommended to focus on one-on-one conversations more when compared to top-down communications. It’s because the latter one often becomes messy very soon. Also, as a part of this entire process, you should ensure to provide digital places like employee communities.
It allows employees to work together and solve various problems without getting the management in the middle. With this idea, you can create such a positive environment in your workplace that your employees always feel heard and valued. Of course, a feeling of camaraderie is crucial to employee engagement.
Is it not actually smart to invest in improving your organisational employee engagement? The more employees feel heard, the better it is for your business.
So, always act smartly when it comes to dealing with your employees, drive more engagement while driving your employees more in the decision making process, let them voice their ideas and suggestions, encourage such managers who follow a collaborative working approach and so on.
All these ideas can let you effectively grow your business like never before. Finally, don’t forget to ensure that you are explaining your various commitments to the employees. It can help your employees work healthily and remain satisfied in their work while maintaining the right balance between work and life.
Everything together can lead you to practice the best employee engagement strategies that you could ever think of regarding your business.
Get your employees engaged and skyrocket your business amazingly!
About the Author
Lyuthar Jacobs is a blog editor at www.dealslands.co.uk a fastest growing online coupon industry. He loves to write about money saving business, and finance. He enjoys sharing his knowledge and experience with his friends and colleagues.