When we begin to realise how an engaged workforce can radically transform a company, from delivering on exceptional customer experience to reinforcing sustainability, it is then that we begin to see why the space for employee engagement is so obvious. The implications are both short term and long term, both financial and personal. Employee engagement is hardly an option, it’s an imperative. And implementing a program does not have to be a tedious process. 8 weeks is what you need.
It’s a war for talents out there
And companies serious about attracting and retaining the best are most certainly aware of this. Human Resources professionals who have shown leadership skills and ventured beyond the job contract and the fixed expense line, in the direction of what it means to have an engaged workforce, have developed another grasp of corporate value.
Intuitively, it makes sense. Engaged employees stick to their companies. But from an investment perspective, it does too. If salary and employee benefits on statements of income often make up a sizeable chunk of fixed costs, this is likely saying two things:
1. The best of investments is in your people.
2. You have to think smart, and perhaps differently, when it comes to your best investment.
The benefits of a solid engagement program
Business leaders recognise that a highly engaged workforce can increase innovation, productivity, and bottom-line performance while reducing costs related to hiring and retention in highly competitive talent markets (The Impact of Employee Engagement on Performance, Harvard Business Review, 2013). Research results can point to some evidence:
- 71% of executives say that employee engagement is critical to their company’s success (Fast track 360).
- Companies with a highly engaged workforce are 21% more profitable (Gallups meta analysis).
- 28 years of stock market data have shown that firms with high employee satisfaction outperformed their peers (Alex Edmans, Academy of Management Perspectives, 2016).
- Absenteeism was 37% higher in organisations scoring in the bottom 25% on engagement (Harter et al., Journal of Applied Psychology, 2009).
So, What’s Next?
Once you’ve realised that survival and growth highly depend on the commitment of your employees, you can now prepare to go into action. There are in fact very systematic ways of implementing employee engagement solutions.
Bondfire has actually devised an 8-Week Employee Engagement Program designed for business leaders. The Program has been developed with Human Resources experts, based on the methodology of award-winning expert Kevin Kruse. Kruse is the author of the best-selling book “Employee Engagement 2.0: How to Motivate Your Team for High Performance”.
Unlike other employee engagement programs which do not set a time frame, Bondfire’s Program sets a target with deadlines and measurable objectives. The Program includes understanding the needs and expectations of the team, feedback cycles, individual and group meetings, close interviews, developing habits of recognition, and sharing the company’s strategic plans using proven communication skills.
Business leaders assign value to investing in their workforce, from recruitment, to retention, and motivation. Like all investments, the strategy has to be well designed and the implementation effective. There’s no set way of going about developing an engagement culture. True, a journey of a thousand miles begins with a single step, but the right destination requires it to be in the right direction.