How Improving Employee Engagement Can Increase Revenue for a Business

[aa_subtitle_display]Happy and engaged employees are something that all employers should strive for. The performance of a company can be directly linked to employee engagement. The AON Hewitt survey suggests that high levels of engagement help improve employee performance. The survey reveals that businesses and employers with high quantifiable levels of employees outperform most companies by 4% in operating margin, 6% in sales growth and 6% in total shareholder return.

Employee engagement results in higher service, productivity and quality, leading to enhanced customer satisfaction, resulting in higher sales, which leads to higher levels of profits and higher shareholder returns. This clearly shows how employee engagement can increase revenue for a business.

When all employees of an organization give their very best each day and are committed to the goals and values of the organization, then nothing can stop the organization from achieving phenomenal success.

Benefits of high employee engagement

• Higher productivity
• Better sales
• Better customer satisfaction
• Increased team performance
• Lower absenteeism
• Increased retention
• Safety
• Revenue growth
• Higher shareholder return

5 Simple but Effective Ways to Boost Employee Engagement

1. Start at the very top – One of the most effective employee engagement strategies that any company can implement is to “start at the top.” Employees should see that the top management is demonstrating the behaviour and characteristics it asks everyone else to display.
2. Genuine Relationships – Businesses and companies are made up of people, and not software or property or machines. Authentic relationships between management and employees help foster trust and build team spirit.
3. Positive Work Environment – Employees should feel comfortable at their workplace. They should feel free to express themselves. A workplace that is comfortable encourages productivity. As employees tend to spend a lot of time at the workplace, a positive work environment can create wonders.
4. Show Appreciation – Employees work harder when their effort is appreciated and rewarded. The appreciation should not be restricted to annual reviews. A simple “thank you” can be a great way to show an employee that their effort has been noticed and appreciated.
5. Provide Growth Opportunities – Employees may not be motivated to perform if their career growth is stagnant. Managers should show employees the clear path to growth (greater responsibility and higher compensation).

The benefits of building an engaged workplace is undeniable, yet most businesses have failed to make the connection. This has stopped them from making an investment in the employee engagement strategy.

You may be surprised to know that only about 20% of companies invest in programs related to employee engagement. This disconnect represents a perfect opportunity for companies to get a strong competitive advantage of over 80% of the companies that do not have a strategy.

Businesses and employers all over the world have started understanding that employees are its most valuable assets and investing in programs, initiatives and tools to boost employee engagement can result in growth and revenue. PEO can give your business better tools and resources, so that you are able to improve employee engagement in the quickest possible way.