The business benefits of high employee engagement are well documented:
When employees are more engaged, they invest more discretionary effort into their work.
When employees are more engaged, customers enjoy a better experience.
When employees are more engaged, customers become more loyal.
When employees are more engaged,revenues increase.
When employees are more engaged, profits increase.
When employees are more engaged, earnings per share increase.
According to Gallup's recent study, world-wide, employee engagement levels are dismal.
With all those big-time benefits, why don't more companies take more effort to improve employee engagement?
Here's the kicker: You don't necessarily need a big budget to improve Employee Engagement. This recent article published by The Conference Board presents six of the many ways that a business can begin to improve employee engagement:
- Tap into the talents people want to use
- Demonstrate appreciation
- Ask for input
- Highlight successes
- Offer opportunities to learn and grow
- Provide honest, meaningful feedback
Most of those methods don't necessarily require funding; they're more about consciously doing more of the things that we ought to be doing in the first place - things like transparency, showing appreciation, and genuinely appealing to the human side of employees.
With documented benefits of employee engagement so high, and the costs of making it happen so low, we're talking about an ROI that's off the charts. Why don't more companies take these low-cost steps to driver greater employee engagement?
We're good at measuring the results of employee engagement, but we're not very good at measurring actual engagementt. Companies have been measuring customer loyalty, revenue growth and profitability for a longtime. And since they know how to measure it, they know how to manage it.But it's a lot harder to measure engagement. The AQPC annual census is representative of how engagement is measured, but it only happens once a year. And that may be part of the problem:
We're living in an age of immediacy; the answer to any question is a Google-search away, so the idea of having to wait an entire year to know if your employee engagement initiatives are paying off is counter-intuitive to today's management mindset.
If there's a method to measure employee engagement on a more regular basis - something that offers a more "instant gratification," I suspect we'll see more engagement initiatives practiced with greater rigor and regularity, and world-wide employee engagement well-above today's 13% level.
Do you know of a immediate way to measure engagement?