Ways Employee Engagement Adds Value to Business Development
“To win in the market you must first win in the workplace,” says Doug Conant, an internationally renowned business leader. Mr. Conant made a simple yet effective hit on how crucial it is to have a happy and engaged workforce. Businesses, nowadays, leveraging new technologies and infrastructures to facilitate employees engagement at work. Additionally, more emphasis are given on providing training to the employees and thus, millions are spent on integrating employee training software every year. This ensure a creative, convenient, and exciting learning experience for their employees.
Recent studies prove that organisations with better employee engagement outperform than those without by 202%. That’s a clear giveaway of how an engaged workforce can help add value to your business.
But to add a bit, here are some benefits that employee engagement provides to your business.
The Concept of Employee Engagement
There is no thumb rule to define employee engagement; but in general terms, it is an approach to help employees feel connected to their workplace and be more involved in their job so that they can give the best of their abilities for the organisation’s success.
Some Benefits Include:
- Higher retention rates: A 2017 study by Kronos and Future Workplace, published in an article by Fortune says that 87% of employers consider improving retention rates as their ‘critical priority.’ So for all those employers worried out there, here’s a way to get your turnover rates down: ‘employee engagement.’ A report by Gallup specifies that ‘engaged and thriving’ employees are 59% less likely to leave their jobs. So, the more your workforce feels engaged at work, the longer they are to stay working with you.
- Enhance employee productivity: Productive work is what your business needs to move another inch closer to success. When employees feel more engaged at their work, they work more productively. However, there are employers who keep on experimenting different methods to improve their workforce productivity, but employee engagement undoubtedly enhances productivity by 20-25%, which is comparatively more than any other method.
- Improves customer satisfaction: As seen, engaged employees stay more loyal for their work and never hesitate to make an extra effort to serve your customers well. Studies reveal that 90% of customers talk about poor customer service experiences. But highly engaged employees give least chances to have a bad customer experience and ensures that their customers are happy.
- Improves sales: What could be the possible consequences of enhanced employee productivity and better customer satisfaction? Without a doubt, it is better sales! Research shows that organisations with a team of engaged employees experience a 20% higher sales than their competitors. Another report by workforce opinion surveys says that employees who stay engaged at work boost business performance by 30%. The underlying reason behind this improvement is the zeal of those employees to work more and work better.
- Reduces absenteeism: Absenteeism refers to the tendency of employees taking frequent leaves from work. Developing an environment that adds to your employees’ growth, productivity, betterment, and involvement in work, i.e. in a nutshell, helping your employees to stay engaged at work will help decrease absenteeism. Research shows that businesses with engaged workers experienced 43% lower absenteeism.
Ways to Enhance Employee Engagement?
With all of those benefits mentioned above, it is evident that you are now on a plan to enhance engagement of your employees at your workplace. That’s great! So to help you achieve your goal, here are a few tactics you may apply:
- Bring the right people to the right place, and in the right time: It’s just like how you do it in a jigsaw puzzle. Every employee is unique. And, as an employer, you need to identify your employees’ uniqueness and assign them those jobs that suit them the best. It’s undeniable that you will find zero interest in doing something that you are not good at. So, get the right people in the right place to make them feel more engaged.
- Appreciate their efforts: Learn to praise and applause when your team does its job well. After all, good results come up for your company when they are appreciated for the efforts they had put in for their company. So, the more you praise your employees on their excellent work, the more will feel happy to work better.
- Invest in training: A research on work based learning by Middlesex University’s Institute reports that 74% of workers in the UK wished for job training to improve their potential. Providing adequate training to your employees will make them feel valued and will educate them with all the requirements to stay at par with the organisation’s work strategies. Therefore, choosing the right software for employee trainingwill help you provide them with the right coaching and will help enhance employee productivity.
As they say, what you sow is what you reap; a similar situation applies to the employer-employee relationship in a business. The more you improve your employees’ engagement, the more they will work hard and commit to your company. From all the above facts and figures it is evident that employee engagement is nowhere a tiny issue to neglect. It is more of a means to add value to your business development and will help you reach heights of success.
Author Bio: Kamy Anderson is an ed-tech enthusiast with a passion for writing on emerging technologies in the areas of corporate training and education. He is an expert in learning management system & elearning authoring tools – currently associated with ProProfs.