Employee Engagement Metrics and KPIs
Every business requires customer satisfaction and loyalty. Customers expect a unique service to stay loyal to a company. Employees are the ones who ensure that customer satisfaction through consistent interaction and focused engagement.
To keep the employees engaged and productive is one of the prime goals as companies with well engaged workforces are found to outperform the peers by 147%.
A company that suffers from poor employee engagement ends up losing more. Poor employee engagement can be identified by analyzing the activity trend in the employees, some of the notable being:
Absence of a team-member: Absence of a single employee affects the other team members who need to cover for his work. This leads to a bad employee experience.
Unsatisfactory Working Environment: Unhappy employees simply look for other workplaces where they find interest, or in other words, makes them happier than before. A company might incur a loss as a result of losing the best of its workforce.
Low Profitability: Low engagement can be considered to be a possible cause of the slow sales and low production.
Unengaging Working Environment for New-Hires: If new hires start leaving in the first 90 days, either the company program was not engaging enough or they were not the right hires from the beginning.
Low Employee Net Promoter Score (NPS):
NPS is about finding out if an employee would recommend a job at the company to a friend or family member. Studies reveal that, a positive score in the NPS represent that employees are most likely to recommend a job at the company to a family whereas a negative score represents the exact opposite. So, by improving employee NPS, a business can reduce employee turnover and keep the labor costs down too.
Low Customer Net Promoter Score:
Customer feedback helps a company in determining its financial performance. So, loyalty and ensuring customer satisfaction is very crucial yet a significant area of focus for any business. Low customer net promoter score can be taken as a consequence of low employee engagement.
Thus, potential engagement of the employees is a must-have in a company to mark its way to success. Employees who are engaged rather invest themselves in the broader success of the company instead of showing up only during the paychecks.
Here is where the managers play the greater roles. The best of managers measure the satisfaction of their teams for ensuring productivity. Managers can improve the employee engagement levels by a number of ways, some of those being:
Base-line Determination: By determining the baseline of employee engagement, the managers can find the areas of improvement. Employee engagement survey could be one of the ways of determination.
Making them feel privileged: Every employee wants make himself heard and know that his opinions matter rather than just being a puppet working day and night for the company. Making sure that an employee’s opinions are taken into account with adequate respect will eventually turn out to be in the favor of the company itself by reducing voluntary turnovers.
Taking their suggestions into account: While working, employees might have a suggestion oriented towards the benefit of the company. By creating a platform for employees to share their ideas, managers can somewhat measure the efficient engagement of his team members.
In a nutshell, employees are the foundations of success of a company. Their active engagement and dedication is indeed necessary for the potential growth of a company.