What is your Employee Engagement Strategy?
Does your company have an employee engagement strategy?
As a leader and business owner, are you confident that your team is motivated, engaged and prepared enough to tackle the challenges on the horizon?
Now more than ever, companies need to have their teams fully engaged for the test ahead. With lay-offs, remote work and cautiously coming back to offices, the feeling of disconnect and insecurity hovers over your biggest asset. What you both need to consider is an employee engagement strategy to bring everyone back on board and fully committed to the business goals.
The impending economic effects will be felt wide across society and for businesses to survive and thrive; they will need a motivated workforce putting their full energy into achieving your goals. Henry and Provectus stand ready to help you navigate these murky waters and get the best out of your team with an employee engagement strategy.
What is an employee engagement strategy?
An employee engagement strategy is an internal campaign to create a working environment whereby workers feel positively connected, committed and loyal to the success of their employer. Engaged employees are not just coming to work for a pay check, they are coming with a sense of purpose and seizing an opportunity to make a meaningful contribution.
Why do you need one?
It is no secret that a disengaged workforce is simply bad for business. Have you ever walked into a store where the employees look bored or are on their phone? It is not an inviting, productive atmosphere and leaves a bad taste in customer’s mouths. In a world where more options and substitutes for services exist, first impressions, word of mouth and reputation are crucial to your brand value. The benefits of an employee engagement strategy extend way beyond those and make an impact across all KPIs:
Improved Project Success
Where an employee feels respected and heard, they take ownership of the success of individual tasks. By taking this responsibility, they feel empowered to see the task through and personally responsible for the achievement of a goal. Disengaged employees display an indifference to the success as they view their employment as solely generating an income.
Boosted Exposure and Sales
Most businesses still gain the majority of their marketing exposure through word of mouth and nobody speaks louder than your own employees. They are your ambassadors and promote your business within their individual networks. Healthy culture and engagement leads to employees proudly sharing their positive stories with their networks far and wide.
Companies with low engagement scores report up to 20% lower productivity. However, happy, engaged employees are willing to go the extra mile for an employer that treats them positively. A 20% boost in productivity is a major advantage to any company for the year ahead.
A healthy, engaging work environment empowers employees to safely absorb further responsibility in their roles. A strong sense of loyalty and commitment results in team members actively looking at ways to improve their contribution to success. Employees welcome extra responsibilities and develop leadership skills allowing in-house promotion and a reduction of hiring costs.
High staff turnover costs companies millions each year. It is estimated that replacing an employee can cost up to 20% of that employee’s salary between recruitment and training costs. By creating a positive empowering work atmosphere, employees become committed to your company and stay longer.
Reduction of Sick Days
In a large study by HR Advance Australia, it was revealed that out of the 5 main reasons for sick days in Australia, only 1 is actually related to illness. The other four main reasons are due to disengagement, sick day entitlement culture, management practice and work stress. It is costing the Australian economy $44 billion each year and individual employers up to $3500 per employee each year. The numbers are staggering but avoidable by developing a culture that employees feel protected within.
Recruiting Better Talent
Engaged workforces who are positively contributing will often look to recruit people from their networks to join them at your company. Furthermore, prospective talents can access reviews online of what it is like to work for different companies. Fantastic reviews left by your team leads to more applications from better candidates giving you the best talent pool to pick from.
These are just a handful of the benefits making a huge difference to the clients of Provectus due to improved employee engagement. Henry and Provectus have developed engagement strategies that have elevated companies beyond what they thought was achievable.
What Henry and Provectus can do for you?
Most companies are aware that offering employees benefits and perks boosts morale. However, what many don’t realise is material benefits are less effective than creating a positive engaging culture.
Having worked with many different organizations, Henry recognizes the need for individual solutions for individual businesses. A Friday happy hour or introduction of birthday cakes is not the long term solution for everyone.
Provectus dives into the company culture assessing what influences and motivates your team, what they may be lacking or causing insecurity and what is working. Adding a review of different internal elements to a deep understanding of group dynamics and the intricacies of employee engagement, Henry is equipped to create easy to understand steps tailored to your company to bring long-lasting results.
As the new financial year comes into view, inquiring with Provectus could be the difference between a disconnected, distracted workforce and a fully committed, productive and deeply motivated team capable of thriving beyond the pressures of 2020. Feel free to give Henry a call or send him an email to get advice on how to create the engaged team you know your workforce could become!