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Engage for Success

Posted by denise on 28 February 2013 | 0 Comments

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Recent research out of the UK reveals  a renewed focus on employee engagement as the country digs itself out of the mire of the GFC. 

The business case for this is compelling and, importantly,  achievable : 94% of the world’s most admired companies believe that their efforts to engage their employees have created a competitive advantage (Hay).

As well as performance and productivity, employee engagement impacts positively on levels of absenteeism, on retention, on levels of innovation, on customer service, on positive outcomes in public services and on staff advocacy of their organisations

Imagine a future when your organisation was achieving the following results.  What would they mean for your business?

Twice Net Profit

Companies with engagement scores in the top quartile had twice the annual net profit than those in the bottom quartile

2.5 times - Revenue Growth

Organisations in the top quartile demonstrated revenue growth  2.5 times  greater than those in the bottom quartile

12% Higher Customer Satisfaction

Companies with top quartile engagement average  12% higher customer loyalty

18% higher productivity

Organisations in the top quartile had 18% higher productivity than those in the bottom quartile

40% lower staff turnover

Companies with high levels of engage show turnover rate 40%  lower than those with low levels of engagement

62% lower accidents

Organisations with engagement in the bottom quartile average 62% more accidents than those in the top

The research showed 4 key enablers of engagement:

  1. Visible, empowering leadership providing a strong strategic narrative about the organisation, where it’s come from and where it’s going.
  2. Engaging managers who focus their people and give them scope, treat their people as individuals and coach and stretch their people.
  3. There is employee voice throughout the organisations, for reinforcing and challenging views, between functions and externally, employees are seen as central to the solution.
  4. There is organisational integrity – the values on the wall are reflected in day to day behaviours. There is no ‘say –do’ gap.

Ready,  Steady, Go.  Your starting point? 

  • Survey your staff to understand how engaged, or not they are. 
  • Trust and act on the results.  Identify what you are doing well and what you need to do better
  • Pull  together an action plan that short and long term actions along with measures.   This is critical.  Many organisations focus on the engagement survey and do little around action planning.  The result?  Employees become cynical about the whole exercise
  • Deliver on your action plan.  Keep staff informed about what you are doing and why.  Tie engagement initiatives back into your engagement results and plan so they understand the connection.
  • Keep your foot on the gas.  This is a long term journey not a hop around the corner to the dairy.
  • Don’t celebrate victory too quickly.  I know of a number of companies who have stepped off the gas after an uplift in their scores only to find the scores dropped back down again, sometimes lower than the initial benchmark.

source:engageforsuccess.org



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