Want to reduce turnover and make more money? Of course you do! That’s why we all are in business; to make money and help people is what I hear most often. Unfortunately, making that happen is the challenge nearly all businesses face. If you’re one of the businesses where money and people are thriving, congrats! But also realize, keeping it that way is key.
Enter Employee Engagement and Experience, what I like to call E3. What may seem like an “out of the box” concept here in Greenville is nothing short of common practice in larger cities and businesses across the country. Those businesses understand the power and importance of making sure your biggest asset, your employees, are having a positive workplace experience and in return you reap the benefits with higher productivity.
It makes perfect sense. You spend countless hours and money recruiting, interviewing, testing, deliberating, selecting and training that perfect employee. Now what? How can you ensure all that time and money doesn’t go to waste? You have to engage your people, plain and simple. Almost like a dating relationship, “courting” them during that recruitment phase needs to continue past the initial offer. It’s day two and on that really matter and will make or break the longevity of that employee with your company.
By keeping employees engaged in what they’re doing, who they do it for and why they do it, your business can literally launch to the next level. Especially when it comes to reducing turnover, improving customer relations and ultimately increasing that bottom line.
According to Forbes magazine, employee engagement is the “emotional commitment the employee has to the organization and its goals.” It’s when the employee truly cares about what they do, the team they work for and the overall mission/vision of the company. It’s that employee who goes above and beyond, not because they’re asked to, but because they want to.
A 2016 Gallup study drew the connection between consistently low engagement and team performance and suggested that when an employee’s engagement needs are not met:
- Higher likelihood of turnover
- Employers pay 1.5 times the employee’s original salary to bring on a new employee
Conversely, engaged teams:
- Have lower turnover
- 21% greater profitability
- 17% higher productivity
- 10% higher customer ratings over disengaged teams
Realizing the importance of those working for and with you is the first step. Are you engaging your employees? Do you even know where to begin to turn things around? If you haven’t already, now is the time to take that first step.
At E3, our mission is to create a game plan for businesses to thrive by improving employee engagement and experience. We focus on the input of the employees, because they matter! We take time to interview each employee, listen to their suggestions/ideas/concerns, and then format strategies that can generate engagement almost immediately. We realize there isn’t a “one-size-fits-all” answer. We handle each company individually to assess your needs and best ways we can help you reach your goals.