Improve Business Results by Engaging, Aligning, and Recognizing Employees
Today the workplace has changed. The war for talent will make or break your company’s likelihood to succeed. Unemployment is at its lowest rate since 20091 and job openings have increased by 73 percent.2 Your employees have options. If you fail to excite them there are many companies waiting in the wings—ready to seize your missed opportunity.
Consider re-thinking the way you engage your employees. A few dissatisfied employees can have a ripple effect throughout your entire organization. These employees negatively impact profitability and eventually leave. Future-focused companies must create a positive atmosphere that engages, aligns, and recognizes employees. The end result can deliver contagious excitement, delighted customers, and higher shareholder return.
Engagement: It’s Worth the Investment
It’s not just hearsay; engaged employees perform 20 percent better and are 87 percent less likely to leave their jobs.3 Organizations with high engagement rates are 78 percent more profitable than organizations with low levels of engagement, proving that engagement really does have a strong impact on business results.4
Alignment: Connect Employees with the Bigger Picture
Today, only 37 percent of employees have a clear understanding of what their organization is trying to achieve and why.5 Whether employees physically work in the office or remotely, organizations must ensure that employees are aligned to the company’s business objectives and core values.
Recognition: Better Leverage Your Best Resource
Recognition makes it possible to better leverage your best resource—your people. It helps companies align employees to business results by reinforcing the right behaviors tied to corporate objectives. And it solidifies employees’ emotional connection with your company, making them more engaged. A successful employee recognition program will yield exceptional employee engagement and better alignment, but it cannot be done overnight. The program needs to address each organization’s specific concerns and develop strategies to improve these areas.
Never Cut Corners: Abandon the Idea of “One Size Fits All”
There is no “one size fits all” solution when it comes to engaging and aligning employees with an Employee Success Platform. However, there are a few elements that every strategy must include. Consider how engagement, alignment, and recognition will impact the entire workforce on a global scale.
Leaders must be held accountable for ensuring that all employees are highly engaged, aligned to business results, and recognized for achievements.
When employees feel good about coming to work and have the tools to do their jobs well, they will be able to deliver better customer service, leading to repeat business and customer loyalty. It’s not just about creating a fun atmosphere for employees; it’s about creating an environment where employees understand their roles, and are successful.
Sources:
1. Labor Force Statistics from the Current Population Survey. Bureau of Labor Statistics. 2014. Web. 10 Feb. 2014
2. “Job Openings and Labor Turnover Survey (JOLTS).” Bureau of Labor Statistics. 2014. Web. 10 Feb. 2014
3. Haydon, Reese. “Show me the money: the bottom line impact of employee engagement.” TLNT: the business of HR. 11 Jun. 2013. Web. 10 Feb. 2014
4. “What Makes a Company a Best Employer?” Hewitt Associates. 2009. Web. 10 Feb. 2014
5. Covey, Stephen. “The 8th Habit: From Effectiveness to Greatness.” Free Press. 2004. Web. 10 Feb. 2014