It all starts with people. Companies sink or swim by their employees’ talent, effectiveness, and dedication.
According to Kim Monaghan, founder of KBM Coaching & Consulting, employee engagement is more than a state of mind. As she states, “Engagement doesn’t happen on a whim. Discovering what drives engagement requires research and observation, and then carefully designing a plan to ensure its effectiveness.” Empowering and motivating your workforce has a tangible impact. This topic is near and dear to our heart given the critical importance to how we run our business, and to our clients.
Recognizing employee achievement – through a thoughtfully-formulated and clearly-defined engagement program – can be a powerful boost toward success. Here are four important considerations about employee engagement:
1. Analytics are key.
With the right technology, you can identify how to get the most bang for your buck, incentive-wise. Many companies needlessly invest precious resources on expensive rewards that lack significant ROI while ignoring the low-hanging fruit. Crunching the numbers can allow you to root out unjustified expenses and come up with more compelling replacements.
2. Engagement is strongly linked with retention.
Companies that invest in workplace satisfaction benefit from lower employee turnover and higher productivity. Also, if you have a positive reputation in this arena, it should be easier to attract new talent. As Soumyasanto Sen and Tej Mehta reveal in HR Tech Weekly, employees tend to stay with companies when they:
- Feel like their work is important and valued by the firm
- Receive regular feedback
- Understand management expectations regarding their performance
- Believe their opinions matter
- Have opportunities to do good and interesting work, both on a day-to-day and long-term basis
3. Ignore employee engagement at your peril.
The process of identifying and interviewing new candidates – as well as the subsequent onboarding and training – requires lots of time and money. Employee engagement is like insurance to protect those large investments in human capital. Failing to get that insurance in place can not only result in a quantifiable hit to your bottom line. There are often subtle, far-reaching internal and external ramifications to losing valuable employees who have cultivated relationships with important clients or serve as mentors within your sales team.
4. Streamline, streamline, streamline.
Whenever possible, eliminate manual tasks and reduce the amount of time spent on “drudge” work. Make your employees’ jobs more efficient by giving them the tools needed to complete necessary but not-so-stimulation items as quickly and painlessly as possible. Do what you can to boost the amount of time employees can spend on projects they consider exciting and connected to their own strengths and future goals.
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So, where does IncentViz come in? By incorporating the above tenets, IncentViz is designed to make a powerful impact on your organization. We were determined to create a solution that was intuitive, efficient, and user-friendly with the technical depth to reliably support a wide variety of tasks. Improving the day-to-day lives of individuals was our main goal, and our clients are pleased with the results.
Please contact us to learn more or request a demo!