August 3, 2012 | Author: PM Hut | Filed under: Leadership
Leadership Coaching: 3 Important Strategies To Increase Employee Engagement
By Mike Krutza
Take A Good Look At The Workplace
Take a good look at what’s going on in your company. How is the workplace? Are the employees engaged and committed in what they do? Consider as a reference the larger scale: 63% (almost two- thirds) of US employees are not fully engaged in their work. This does come as surprising, right? Such a figure can help you determine your employees’ engagement and willingness to contribute their effort to boost the productivity of your company.
It basically is bad news. With more than half of US employees not fully engaged in their work, employers face higher performance risk. Low employee engagement means a company becomes vulnerable. It’ll garner decreased productivity and inefficiency. The number of customers might be diminished because of weak customer service. Rates of absenteeism and turnover in employees are greater. The correlation between employee engagement and company profit is illustrated in the Global Workforce study conducted by Towers Watsons. Essentially, it means that higher employee engagement means higher profit. Among 50 global companies, Towers Watsons analyzed the engagement scores and one year operating margins. Companies with high sustainable engagement obtained three times higher operating margins than organizations with a significantly disengaged workforce. Shareholder value has to be boosted- it is imperative in surviving the current hyper competitive market. Companies that want to keep on growing and produce more profits should therefore focus on solving the disengagement problem in their business.
3 Strategies To Increase Employee Engagement
How can you address the disengagement problem in your company? You can, because according to the same study, employers do have the opportunity to engage more than half of their workforce using three important strategies:
- Analyze the problem. How is the problem affecting the health of your business? Core needs and priorities have to be changed as a business grows from year to year. A larger organization may need to adjust its culture, such as recognizing and rewarding their employees more to engage them. Do you need to set more ambitious goals? Smaller companies, on the other hand, may need to work more on fluidity and collaboration among its workers.
Communicate. Issues concerning worker engagement vary in different levels of the organization. Listen to the needs and frustrations of your employees. Do they share a common problem or are there different concerns between them? Effective communication will shed light on the true cause of the problem and how they hamper employee engagement.
Plan for a solution. You primarily need to understand the causes and areas of focus before planning for a step- by- step solution.
Approach the employee engagement problem in your company proactively and constructively so you can arrive at and implement better and effective solutions.
Mike Krutza specializes in executive coaching with individuals and teams. Visit Mike’s website here.