As employee recognition and rewards programs become more popular across a variety of industries and regions, especially amid predictions related to a talent gap and the high cost of staff member churn, it has become clear that employers are now focused on engagement.
As employee recognition and rewards programs become more popular across a variety of industries and regions, especially amid predictions related to a talent gap and the high cost of staff member churn, it has become clear that employers are now focused on engagement. Employee engagement is a tricky and complex matter that demands plenty of planning, attention and strategy, while many companies will struggle to adequately gauge returns on investment.
It is important to note here that only a decade ago, the methods of measuring engagement – as well as returns on investment that are directed toward these matters – were simply not ubiquitous or widely understood. In fact, one might be hard-pressed to find a company that actually measured its engagement and relevant investments adequately.
Now, though, this is no longer the case, as the support, guidance and tools necessary to adequately measure ROI for engagement are readily available.
Getting eyes on the prize
CIO Magazine recently recommended several ways in which companies can go about measuring engagement among staff members, as well as gave a few suggestions to ensure that evaluations of the relevant returns are accurate. According to the news provider, business leaders should first understand that employee retention will be far more difficult when they do not have a firm handle on the state of affairs and sentiments among their employees.
In many ways, not measuring engagement when running a business is like flying blind, simply hoping to reach the next stage of success without having a plan in place.
CIO Magazine explained that Gallup's recommendations for metrics to measure engagement are relatively straightforward, involving questions to the staff that revolve around their responsibilities, their perspective of the company and their relationships with colleagues.
It goes without saying that the most effective and accurate metrics will be entirely tailored to the specific demands and culture of each individual company.
Why leverage support?
As aforementioned, it is often difficult to accurately measure engagement, and many companies will even struggle to make the changes following the identification of problem areas. In some ways, it might seem as though keeping it all in house is the right way to go from a financial standpoint, but waste can rise more quickly than many would think.
Using a professional service provider to develop and manage engagement – as well as the metrics used to measure the various investments – is often a strong choice.
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