How Employee Engagement Can Save Your Business Money

Employee engagement is the connection employees feel about their workplace. Distraction and disengagement have a clear financial cost to businesses. Unmotivated employees cost companies a lot of money and eventually can kill businesses.
Image by Carl Heyerdahl/Unsplash

Employee engagement is the connection employees feel about their workplace. Distraction and disengagement have a clear financial cost to businesses. Unmotivated employees cost companies a lot of money and eventually can kill businesses.

Procrastination can lead to a financial and competitive drain on companies. Disengaged workforce causes organizations to lose a competitive advantage.

Distracted employees are harsh truth across industries and results in companies bearing a huge cost. Disengaged employees don’t take the company’s objective seriously.

They merely maintain the 9 to 5 rule for the sake of attendance. They usually don’t take ownership of work and their visibility is extremely low in the organization.

The organization’s culture is paramount to the organization’s success. The positive change in the organization’s culture and collaboration can re-engage employees and improve productivity.

Companies deploy numerous ways to engage employees from allowing employees to work on the projects they like, Beer party on Friday, regular training, to the free food & snacks. The remote work is one of a great way to engage employees as it helps in saving commute time and helps employees manage personal lives.

The biggest challenge for any startup founders is to attract the right talent for the company. Employees just don’t look for a job to earn money anymore. They evaluate a company beyond the financial remuneration and carefully select the organization with the culture of inclusion and growth.

Employees nowadays seek challenges and growth more than money. The focus on career growth is all-time high among millennials in current times.

Robust framework for employee engagement

Several organizations struggle with high attrition among employees. The lack of a robust framework for employee engagement leads to employers having a hard time finding and retaining their top talents.

Hiring is critical to the organization’s success. With ever-increasing attrition, a few companies are forced to continue the hiring process throughout a year.

It’s not uncommon to witness the productive employees leaving the organization. There is a gamut of reasons for an employee to leave the organization ranging from the lack of potential growth opportunity to the interests that aren’t being met.

It’s the responsibility of a leader to align the interest of an employee with the company’s mission and objectives.

The companies invest heavily in building an inclusive culture and foster productive environments. Organizations have learned to integrate personal and professional lives.

Many companies provide creches facility in their premises to support child care. It’s well understood that when an employee’s personal lives challenges are minimal, they can spare more time to the work. The engagement in work activities will likely increase.

Methods for Employee Engagement

A company’s culture can help engage employees and increase productivity. There are several ways employers can engage prospective employees. As a leader you can follow below methods to increase the employee’s engagement:

1. Know your employees

The worst managers I have come across are the ones who don’t speak to employees other than work. They don’t ask questions about the employee’s lives or interests. They discuss nothing in addition to the work. They don’t engage in casual talks.

Employees feel connected to leaders who show curiosity in knowing the employees. The small talks can do wonder to make employees feel connected and take ownership of the work.

2. Impart regular training

The employee training and orientation programs consistently keep the employees engaged and motivated. Employees feel motivated with constant training as their skills develop. It helps in employee engagement and makes them aware of their roles & responsibilities.

3. Develop workforce

The culture of learning is imperative in a knowledge economy. With technological advancements growing at a faster pace, the need for employee’s development is more than ever. Companies can conduct surveys to determine employee’s training needs and provide opportunities for skills development.

4. Foster Collaboration

The team-building exercise, team projects, and cross-team assignments go a long way in the employee’s satisfaction. The culture of teamwork, rewards, and collaboration bring about a culture change in the organizations.

5. Recognize employees

Recognition and reward tend to have a profound effect on employee’s overall satisfaction level. Employees feel validated for the efforts they put into the work.

6. Build customer-focused teams

It’s imperative to make work processes evident in team meetings. By reinforcing the company’s objectives and roadmaps, rewarding employees for exemplary customer services and taking feedbacks from customers for improvement areas can help build a customer-focused team with higher output.

7. Mentor employees

Organizations need to work on the mentoring culture by providing consistent reviews to help employees work on weak areas. Authorizing employees with clear responsibilities helps in increasing their engagement level.

8. Trust employees

Trust is never a one-way road, it always works two ways. If you trust your employees, they will trust you back. Micromanagement is never a good idea or it will backfire with employees leaving the organization or worst badmouthing the company on public forums.

9. Enable employee’s feedback process

Making actions based on employee input and feedback helps in improving the process and culture of the organization. Establishing a common channel for the employee’s feedback helps shape the company’s culture.

Advantages of Employee Engagement

Organizations with highly engaged employees can outperform their competitors with an increase in the employee’s productivity. Following are the benefits of employee’s engagement:

Higher productivity

Highly engaged employees are likely to have higher productivity.

Increased employee retention

Employees are most likely to stay for longer duration in the company with a high level of engagement.

Fewer workplace conflicts

The cases of conflicts among engaged employees are lower and lead to organizational harmony.

Increased profits

Profits and revenue are bound to go up in companies with engaged employees compared to competitors with low engagement levels among employees.

Summary

Lack of engagement within a team impacts the outcome of a project. As a leader, you must ensure that employees remain engaged by establishing open communication, feedback programs, and fostering collaboration across teams.

The organization’s culture isn’t clearly defined and generally develops over time. With consistent and conscious efforts, senior leadership can bring about positive changes in the company with regards to overall employee engagement and satisfaction, thereby resulting in higher productivity and increased revenues !!

Pankaj

Pankaj

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