As businesses adapt to the constraints of social distancing and stay-in-place orders, the importance of employee engagement has never been greater. Leaders can no longer rely on casual office conversations to gauge employee sentiment.
A concerted employee engagement strategy sees positive outcomes for three parties - the individual employees, the customers and the business. The benefits are outlined below:
Engaged employees are 3x more likely to be thriving in their lives overall.(source - Gallup)
Engaged employees enjoy what they do. And because they enjoy what they do, they tend to get more work done, in a more efficient manner, and with less chance of burn out. On the other hand, disengaged employees tend to be less productive and are more likely to get sick. Businesses who prioritize the wellbeing of their employees at work, are playing a critical role in the health and wellbeing of their employees overall.
79% of companies with engaged employees have a significantly better customer experience than those who don’t.(source - Temkin Group)
Employee experience and customer experience are intrinsically linked. You cannot have one without the other. As outlined in The Six Laws of Customer Experience by the Temkin Group, ‘unengaged employees don’t create engaged customers’. Employee behavior is driven by the metrics a business tracks, the actions they reward and the activities they celebrate. Employee satisfaction directly impacts customer satisfaction. And customer satisfaction directly impacts customer loyalty.
Highly engaged business units result in 21% greater profitability.(source - Gallup)
Employee engagement has a direct impact on the bottom line of a business. Disengaged employees result in higher levels of absenteeism, reduced productivity and increased staff turnover. On the other hand, research by Bain proved that companies with highly engaged employees grow their revenue 2.5x more than those with low employee engagement.
And the bonus fact…
Engaged employees are 4x more likely to do something that is good for the company even if it is not expected of them.
When businesses show employees that they care, employees will be driven to do the same for the business and its customers. They will give more feedback because they know they are heard. They will collaborate more with their colleagues because they have a shared appreciation for each other’s work. They will show their commitment to the business and achieve results. And they will go the extra mile without being asked.
Local Measure understands the challenges being faced by businesses suddenly working remotely. Click here to find out more about our digital solutions for Employee Experience.