There is a lot of buzz around the words “employee engagement” and “recognition.” C-suite level directors are being called and emailed every day from various thought leaders and vendors all pushing out different twists on the common concept of engagement. So why should these busy executives spare a second to care? Here are the top 10 reasons why it is essential to have an
engaged workforce:
1.
Align employees to core values: “Core values” are established by senior leadership as a standard of
conduct for the employees. However, many people don’t even know the core values of the organization they work for. Creating a culture of recognition upon the core values will align employees with the organizations goals and mission, and engage them to live those values on an everyday basis.
2.
Create a community among global employees: In today’s global economy, organizations have employees scattered across the world. Creating a unified culture of recognition and
employee engagement will connect the employees on a deeper level to share successes and drive business results.
3.
Revenue Growth: Studies completed by several reputable agencies reveal that organizations with an engaged workforce experience revenue growth higher than those with lower levels.
4.
Retain top talent: The top performers in an organization need to feel valued and know where they stand. These people are sought after in any organization, so in order to keep them around and performing at their high level, a company needs them to be engaged and fulfilled in the workplace.
5.
Bridge HR with the rest of the business: While the HR department understands that people are the company’s greatest asset, the rest of the organization can lose sight of this sometimes. Creating a culture of engagement and recognition will celebrate the achievements of the employees on an ongoing basis, which will reinforce their importance within the organization.
6.
Motivate employees: Sometimes it’s hard for employees to feel connected to the purpose of the business and to be motivated on an ongoing basis. However, creating an engaged workforce will link employee behaviour with the success of the organization, and thus motivate employees to contribute at a greater effort and feel completely committed to their career.
7.
Build employer brand: The internet and social media are a prominent part of the way people communicate and share information today, so it is very important to ensure anything that is communicated relating to the business is done in a positive light. Having an engaged workforce will naturally draw favorable impressions of the company and build up the company’s brand as a top employer.
8.
Organizational Profitability: Numbers don’t lie. Analyzing the Fortune’s “Best Places to Work” reveals that the financial return of these organizations are 233% higher next to overall market returns over a 6 year period of time. Also, organizations with a high satisfaction score have shown shareholder return 700% higher than those with low/mediocre scores.
9.
Enhance the link between customers and employees: Having an engaged workforce that is aligned to the success of the organization will translate into the service that is provided to customers, which has a direct impact on business results.
10.
Management coaching: Managers who feel engaged in the workplace and aligned with the core values of the organization will be great role models for everyone else in the company and especially their subordinates. It is paramount to have managers who understand the value of recognition and know how to implement it effectively within their teams.
