Wondering if your company is OKR ready?
Facts About Employee Engagement Every Team Should Know
Employee engagement is a pretty broad thing. There are many aspects to it, some are more abstract, like the work ethics, and some are tangible such as fair compensation.
You can find specific facts about employee engagement based on the information you collect from observing your staff and getting direct feedback. And to start working on implementing more effective worker engagement practices, you can also look at the research data that is already there on the web.
In the following part, you will see the trends and state of employee engagement at certain companies. You can use these insights to make your company a better place for your people, and when you care for them, they are happier and inspired to achieve essential business goals.
Nine employee engagement realities you should know about
1. Clear vision, and work expectations boost employee engagement.
We often see that people put in a lot of hard work and still cannot achieve their targets. The problem here is not the amount of work being done but the lack of focus on the efforts that make a difference.
For example, an Outbound Marketing guy may be working 10 hours a day sitting at the desk and sending emails to potential clients, only to find out they are not getting enough leads.
The main problem could be the specific type of individuals getting those emails. The marketing guy needs to refine his list and only send emails to the relevant target audience.
These details come with experimentation and learning from failures, but having a goals-based (or OKR-based approach) guides team to correct their course quickly.
OKR are clearly defined and measurable, removing confusion regarding what the business and the individual must achieve. In short, they lay the foundation for employee engagement.
2. Disengaged employees increase the burn rate and costs to the company.
Employees that don’t feel connected to their work cost around $450-$500 to US companies each year.
In startups, where the team is generally small, it can cause business failure as they cannot achieve the desired outcomes.
It may not be just about the cash; when disinterested employees leave the company, they can spread bad word about the company.
3. Continuous performance management and feedback enhance employee engagement.
Workers are three times more engaged at work when they get frequent feedback from their leaders.
People are generally more productive when they know their leaders care about their work.
Regular discussions about the work remove any confusion about the business priorities. It also strengthens the alignment between team members, leaders, and the company goals.
4. Accountability and problem-solving ability make the staff more involved with the team.
Your people become accountable when they realize that their work makes a difference in the business. They are responsible for their part in the teamwork and business outcomes.
When people are enabled to solve issues for themselves, they become better at problem-solving and implementing innovative solutions.
Everyone knows the vibes they get when they enter a room where a group is seamlessly collaborating and functioning like one perfect system.
The zeal to contribute to the team and achieve successful outcomes makes the employees more engaged at work.
5. Effective recognition and rewards result in higher employee motivation.
A study says employee recognition is the most encouraging factor.
Employees are happier at companies where the leaders appreciate the excellent work and give constructive feedback. Acknowledging individual and team contributions openly inspires people.
Money is a significant motivating factor, but it’s not the only one; employees also report greater satisfaction at companies where the praise comes from their peers.
6. People may leave if they are not engaged at work.
We all know people who are looking for a new job while they are working at one.
Nearly 33% of the workers decide to leave their current jobs when they are not engaged well.
A high employee turnover is not okay anywhere. Companies that do not invest in better employee experience also report higher costs.
Organizations do many things to enhance employee satisfaction, such as providing flexibility in working, giving them more freedom and responsibilities, providing paid vacations, etc.
7. Career growth opportunities help in improving engagement
About 41% of the workers say that career development opportunities are very important at a company.
People are more confident when they are skilled and do their job well. Companies that encourage their people to advance their skillset and learn new things report a happier workforce.
8. Not a lot of companies monitor employee engagement
Only 16% of organizations use technology to monitor employee progress and engagement.
Companies cannot escape the use of technology now; their competitors are using technology products, making specific business operations more efficient.
The world recently saw employees work from home full-time, and that is when companies felt the need for practical employee engagement tracking tools.
9. Ditching ‘all work, no play’ and having fun makes people happy.
You don’t have to be an all-time serious manager to the employees. Having some humor and fun sometimes lets your people be at ease.
It’s been observed that highly engaged work cultures include fun activities at work. Taking recreational breaks occasionally also helps in reducing stress and strengthening work relationships.
People are happier and feel more valued when the company invests time and money in the fun time, which is essential for engagement.
For example, a study mentioned that happy employees are 12-20% more productive.
If you want to engage your employees more and boost alignment between them and the business priorities, register for a free demo today.