David MacLeod OBE
Co-chair
Engage for Success
We have known for some time that the UK has an engagement deficit, with as few as a third of workers saying they are engaged at work. Over recent times there has been a focus on how engagement links to business performance and how it could help organisations through the tough economic times. We now face a new challenge; engagement is no longer just about driving income, profit, productivity, customer satisfaction and innovation. As the recovery continues we must look to engagement as a way of attracting, retaining, nurturing and developing our people. Retaining our most talented people enables businesses to not only keep performing now but to be ready for the future challenges of an increasingly changeable climate. They will be the people who drive our businesses forward in the future, they will be the people who ensure that organisations grow and deliver profit. They are the people that organisations must engage now, for the bottom line of the future.
info@engageforsuccess.org
Frank Horwitz
Chair, exec development committee
Association of Business Schools
Employee wellbeing, job and organisational commitment are all improved if people are involved in decisions which directly affect them and if they have a voice in how their work is planned, organised and performed. Workplace flexibility is also linked, and if properly implemented to the mutual advantage of the individual and organisation, performance is enhanced. Recent research highlights the important challenge of enhancing employee motivation and retention with resultant performance improvement through engagement. Research shows that engagement has positive effects on key aspects of performance such as customer service, organisational commitment, reduced staff turnover and absenteeism. It also confirms that satisfied employees are more likely to create satisfied customers. Studies also show a strong link between culture with high employee engagement and voice, and higher productivity and profitability in comparison to competitors.
associationofbusinessschools.org
Sheila Parry
Managing director
Theblueballroom
Countless studies have shown that disengaged employees cost companies – and the economy – millions. Employees are often described as a company’s biggest asset but, unlike depreciating assets, engaged employees appreciate, so companies need to invest in them. If they are engaged – committed, motivated, and able to act – they will be more in tune with objectives and likely to contribute to success.
Key engagement outcomes:
Increased productivity and lower absenteeism: engaged employees have the energy to drive success
Increased customer value and service performance: service protects reputation and correlates to higher net promoter scores
Higher staff retention and loyalty: employees with purpose and direction have a stronger commitment to the company
Engagement strategies must be integral to company culture to truly impact the bottom line.
www.theblueballroom.com
Simon Bloom
Strategic alliances & sales director
Webtrends
It would be a poor employer who didn’t want their workforce to feel empowered to play their part in the business. Engagement now needs more than a “feel-good” culture. Numerous stats show the impact of engaged employees on a business’s bottom line. According to Gartner, organisations with high levels of engagement outperform the earnings of their peers by 57 per cent. Gallup found that businesses in the top-quartile in employee engagement significantly outperform bottom-quartile units in profitability, productivity and customer ratings. Engaged companies also see lower employee turnover and absenteeism. But how do you achieve this enlightened state of engagement? One of the most effective ways is to ensure your employees can communicate and collaborate easily through an internal platform. The use of analytics to measure and understand utilisation of these systems will enable companies to drive greater efficiency and innovation, delivering better results.
www.webtrends.com
Frazer Rendell
Director of employee engagement
E-Trinity Consultancy
The greatest return on employee engagement will be seen by firms where it has become part of the organisation’s culture. The impact of engagement on finances is twofold; cost reduction and revenue growth. To fully achieve this, we promote the use of a balance scorecard that includes employee turnover, absenteeism, customer satisfaction and other related areas. This helps inform both short-term decisions and longer-term strategy when viewed alongside KPIs of revenue and costs. Is there a financial impact to doing nothing? With research showing that around 20 per cent of employees are looking to change employers this year, this will be costly for recruitment and productivity. According to research, pay awards are not the main driver for employees, with development opportunities and fulfilment more prized. In future, engaging employees will be a minimum requirement to stop the bottom line shrinking and to retain your talent.
020 3131 0062 www.e-trinityconsultancy.com
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