IN DETAIL: WORKPLACE WELLBEING
Understanding Employee Engagement Compete for the best talent and help your business and your people to thrive. Here’s what you need to know about employee engagement and its new partner, employee experience. – By Victoria Coplans Hope
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great way to think about employee engagement is as a measure of someone’s attitude at work; how they think, feel and act towards helping their employer meet their goals – or how committed they are to their work. Fundamentally, when an employee is engaged, the company’s success is their success, and they are willing to work harder to achieve it.
Companies with the highest levels of employee engagement see a 23 per cent increase in profitability1, an 18 per cent increase in productivity2, 43 per cent lower staff turnover3, and 233 per cent greater customer loyalty4. It’s easy to see how engaged employees who have meaningful work, good career development opportunities, and feel respected, will care about their company’s success, work harder, stay longer, and focus on the things that matter strategically. While employee engagement is underpinned by factors such as pay and benefits, wellbeing and workplace environment, it may come as a surprise that many of the top drivers of engagement are actually about good quality communication, achievement, purpose, and personal contribution. These drivers include: 1. Open and honest two-way communication – Creating multiple channels for communication
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that flow up and down the organisation, allowing employees to contribute ideas and discuss issues, and leaders to share their thoughts; 2. Understanding of company strategy – Employees want to know what the company is trying to achieve and how their role contributes to that. 3. Meaning and purpose at work – This is twofold, employees want to do work that makes good use of their skills and experience, but they also want to feel that they are achieving something over and above making money for shareholders. You need a purpose, vision and mission that is uniquely yours, as well as a set of values which frame your culture. 4. Leadership visibility and integrity – Employees want leaders who are accessible, approachable, and who actively live the company’s values. 5. Quality management conversations – Enable line managers to have regular, high-quality conversations with employees about their work, but also about career development and progression. 6. Empowerment and psychological safety – We’re all adults and we want to be trusted to use our expertise and judgement without fear of negative
