Some CEOs and HR professionals believe that the labor market is still an “employer” market. However, constant research has pushed many experts to accept that the labor market is eventually the inverse, which means that CEOs must recruit and retain applicants for top and mid-level positions, as well as available jobs.
Meanwhile, every business owner dreams of employees who work with full dedication, strive to do their work faster and better, are responsible for results, improve their professional knowledge, and are ready to share their experience with others. In order to find the right candidate in the corporate world, HRs have to make more efforts. Due to the high degree of staff engagement, such companies have higher profits, a bigger number of regular customers, demonstrate a high quality of service, etc. So, how could the employer boost personnel engagement? Here are some tips to follow.
Why Invest in Staff Engagement?
As the labor market has shifted from an employer to a candidate, HRs must use a wide array of tools to ensure effective recruiting. So, the first step is to understand that the involvement of each individual employee, recognition of his contribution, and role in achieving the company’s success is the source of true productivity. To support these conclusions with numbers, Gallup Inc. has conducted research in which 1.8 million employees from 73 countries were surveyed. Businesses with better staff engagement are characterized by the following:
- 21% higher profit;
- 20% more effective sales;
- 17% higher productivity;
- 70% fewer injuries at the workplace;
- 41% less absenteeism;
- staff turnover is 24-59% lower!
It is not enough to hire a great specialist – he still needs to be attracted and retained. Thus, according to SHRM, 41% of workers directly associate their interests with professional growth opportunities. At the same time, only a third of the respondents were happy with the career prospects in their organizations. So, how to start building an effective employee engagement system? Start with the survey.
Determine the Goals
The engagement of each worker is influenced by many factors. These factors can reduce or increase engagement, allowing to achieve better financial results and general labor efficiency. Survey what really matters to your people:
- Career and individual growth. Companies with a high engagement level provide their workers with chances to acquire new skills and reveal individual potential;
- Effective talent management. Engaged personnel know that their CEOs appreciate them, know their talents, and create all the conditions for their development;
- Clarity of corporate values. Employees need to know that the company’s values are unambiguous and clear;
- Understanding the personnel. Successful businesses show respect for all employees and their individual qualities, regardless of their position;
- Corporate standards of ethical behavior. Ethical behavior of the company in relation to customers and competitors contributes to increasing the level of employee involvement;
- Workers need to be able to make decisions about issues that may affect their work. Leaders create a trusting and work-stimulating atmosphere in which employees are encouraged to move away from traditional ideas about hierarchy and boldly offer their innovative ideas;
- The willingness of personnel to recommend and promote their company’s products and services largely depends on their own perception of the quality of these products and services. Staff engagement is directly related to customer loyalty.
Once you’ve received your engagement survey results, it’s time to move on to particular actions.
In order to increase the level of staff engagement, it is important that CEOs are available and open, as well as that the employee always has feedback, understands the company’s strategy, and shares its values. Personnel who do not understand their role in the company are less engaged.
Most engagement problems are the result of poor leadership. In most cases, those who already have a lot of experience and subject skills in the industry plus they have already worked in the company for a long time are appointed to top positions. However, if you can’t manage people, your expertise is useless. It is essential that people who really deserve recognition receive it from the majority of employees in the company – both their colleagues and chiefs.