Employee engagement is crucial to the success of any business. Compared to disengaged workers, engaged employees tend to be more productive, more loyal, and even more careful on the job. This provides organizations with a key advantage required to stay ahead of competitors.
This is a guest post from our dear friends at 15Five.
That’s why taking steps to boost engagement is essential. However, it’s also important that you know how to properly measure whether your workforce is fully engaged or if they’re teetering on the edge of burnout.
While performance evaluations are a great way to measure your current employee engagement, staying on top of Key Performance Indicators (KPIs) is how you’ll maintain it . There are hundreds of relevant KPIs that can be worth focusing on, but we’ve gathered the most significant ones you should continually keep high priority.
As previously mentioned, when a worker is truly engaged, they are more loyal to their employer. That means they’re less likely to seek employment elsewhere and more likely to produce meaningful and efficient work right where they are.
This isn’t just a minor benefit. One recent study indicates the average cost of turnover per employee is $15,000. This takes into consideration a lot of factors. After all, when you lose an employee, you need to find a replacement, which costs both time and money. During the transition period, productivity will likely suffer due to bandwidth issues or even the drop in morale. These are definitely problems you want your organization to avoid.
It’s important to regularly keep track of your retention/turnover rate. Some industries have higher turnover rates than others, but if you find employee churn is presenting more headaches than opportunities, odds are your company may not be doing enough to promote employee engagement.
Vacation Day Usage
We live in a competitive society where most people choose to revolve their lives around their jobs. Many employees feel the pressure to work harder than anyone else just to keep a job, and stretch themselves thin to get ahead. That’s probably why half of American workers don’t use the vacation days granted to them.
In the moment, employees may seem to be more productive by skipping breaks, but in the long run, working too hard is a direct path to burnout. Allowing for intermittent breaks gives your employees a chance to recalibrate. These breaks can often boost creativity or strike inspiration that motivates them to be far more productive. If you find your workers aren’t using all their vacation time, give them the nudge to take that well-needed break.
Glassdoor Ratings & Reviews
Glassdoor ratings can be useful for hopeful employees looking for their next job, or current employees looking to share about their experience. Unfortunately, many of these reviews can be negative. A former employee who was satisfied with their experience working for your organization may not feel the impulse to write a Glassdoor review, but someone who had a negative experience may find Glassdoor to be a great place to vent complaints and frustrations.
Although bad reviews can be upsetting to sort through, it’s still important to periodically check them. This can give you insights into what you’re company can be doing better and help with future recruiting efforts. Knowing how you’re contributing to employee disengagement is key to addressing company weaknesses. Executives that are open to feedback can proactively get to the root of problems rather than ignore them or pretend they don’t exist.
Most business owners tend to find there is a clear correlation between employee engagement and client satisfaction. When employees are engaged, they’re more likely to deliver better quality work, and clients recognize this. Employees are their company’s biggest advocates, and without their support, chances are the brand will lose potential customers.
To have a better understanding of where you stand with your current customers, it’ll be worth your time to distribute client satisfaction surveys. These surveys will help you not only see if your clients are satisfied, but can uncover what it is your company is doing right, and especially what it is doing wrong.
As closely as you monitor your customers, you should be doing the same for your employees. There is plenty of value that can be found through employee satisfaction surveys. Distributing these regularly helps you understand how your workers feel about the company. Some cultures are open and transparent, but for those that operate differently allow workers to submit their answers anonymously. An employee might be reluctant to make a complaint if their name is attached to the survey.
Learning and Development
Equipping your employees with resources like books or seminars to grow and develop, is an easy yet effective way to boost engagement. Surveys reveal that managers who prioritize giving their workers regular opportunities to advance tend to see engagement levels rise accordingly.
These L&D opportunities don’t just have to be about business. You can provide continuing education around personal finance or fostering healthy relationships. When you have occasion to reward an employee for stellar performance, sponsor their attendance at a class that will further their personal goals and hobbies.
This is a win-win for an organization. Not only are you showing your employees that you care enough to invest in their personal development, but you’ll help them become more skilled and knowledgeable in their role.
Through closely measuring these specific KPIs, you could discover a lot of opportunities for better engaging your workforce. By keeping a close eye on Glassdoor reviews, or by regularly offering employee surveys, you’ll get a glimpse into what is and isn’t working. But don’t wait for the answers before making changes. Start by encouraging your employees to make use of their PTO days, and find out which learning and development opportunities would interest people the most. Taking these steps could help keep employees from burning out for years to come.
Author: David Mizne. David is Marketing Communications Manager at 15Five, continuous performance management software that includes weekly check-ins, objectives (OKR) tracking, peer recognition, 1-on-1s, and 360 reviews. David’s articles have also appeared on The Next Web & The Economist Blog. Follow him @davidmizne.