Engagement levels go hand in hand with higher performance.
According to the latest Qualtrics Employee Pulse report, which surveyed more than 4,500 workers, those in the UK are one of the least engaged. Of nine regions surveyed some including France, Australia, USA only Hong Kong and Singapore scored lower than the UK for employee engagement.
So, what is employee engagement? Employee engagement is possibly the most important factor for organisations who look for high employee performance and output. Engagement is not a matter of enticing employees to work harder or longer hours, but it is about developing productive working relationships and an environment where they are willing to give their best for the benefit of both the employer and themselves.
Running a successful business involves more than generating sales and profit, and yet many organisations exist as if it doesn’t. For your business to stand out, you must have an engaged and motivated team behind you. Building an engaged team requires the fundamental understanding that any investment made in your people means investment in your business.
The idea of employee engagement focuses on mutual gains in employment relationships, seeking the well-being, job satisfaction and development of employees and their performance and commitment to the organisation they work for. Employee engagement brings together older concepts, in particular work motivation, organisational commitment, passion and enthusiasm and job satisfaction.
It is increasingly clear that unhealthy and unengaged employees are a drag on productivity, innovation, and the organisations bottom line. Underperforming employees cost UK SMEs £39,500 each a year on average according to a research into the skills challenges faced by UK SMEs by the growth consultancy, The Sunflower Group.
96% of employees believe showing empathy and support is an important way to advance employee retention according to a recent work state empathy report in the US. At the same time a finding by Gallup shows that highly engaged teams show 21% greater profitability.
Employee engagement is the fuel of an organisation. Employees who have good quality jobs and are managed well, will not only be happier, healthier and more fulfilled, but are also more likely to drive productivity, better products or services, and innovation. And if an organisation is good at it, they can always get better at it.
Successful engagement strategies will make use of a range of employee benefits, good people management and development practices. They should be focusing on employee motivation and well-being, and helping employees understand their contribution to the organisation.
Employee financial benefits such as flexible wage apps could form a very strong part of the employee engagement process as the effects of financial stress on employees are greater than any other. Staring down the barrel of money worries can leave people feeling undervalued, distracted and hopeless. It’s a constant worry that can lead to serious conditions like anxiety and depression.
Users of advanced or flexible wage apps such as fastP.A.Y.E have been found to be 73% more motivated at work. You can take advantage and enhance employee engagement by helping your staff with our flexible wage app fastP.A.Y.E now offered free during the crisis. Organisations can also learn if employees have financial trouble or are struggling should an employee rely on the app regularly to cover their outgoings.