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The Contribution of Employee Engagement to the Bottom Line

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What separate great companies from the crowd are employee engagement programmes. When these programmes are correctly designed, implemented, and operated, they can boost revenue, align the behaviours of employees with the company’s objectives, decrease a range of business costs and create a positive workplace, which will provide happy customers.

When a company’s employees are aligned with its objectives and values, they can easily see their impact and how their work increases the company’s chances and ability to succeed. Consequently, employees see themselves as stakeholders and take accountability and responsibility for service delivery that resonate and delight clients.

Aberdeen Group performed a study on employee engagement, which highlights that businesses with a formal employee engagement programme show a 233% likelihood of customer retention. Moreover, the businesses have a 26% yearly increase in revenue, and they’re seven times likelier to attribute success to the customers’ experience by finding which competency skillset affect the employees’ performance. Aberdeen Group also shows that employee engagement affects customers’ loyalty by more than 7% with repeat business at a rate of 7% yoy (year over year).

Businesses must understand how their employees affect customers’ satisfaction levels for customer loyalty to exist. Premium service delivery requires empowering employees with correct training, technology and knowledge to provide and receive feedback, to collaborate and offer ideas.

Successful companies leverage employee and customer feedback to find which skills and competencies are influencing employee and customer satisfaction and loyalty. Successful businesses create profiles for every employee to find common behaviours amongst high performers. The identified behaviour patterns can be used to assist other employees who might require the development of skills and to set expectations for behaviours in new hires. They may also be used to develop a programme for identification and reward based on the data into what type of reward fits the identification for sought-after behaviours.

In the past, it’s been challenging to gather this information as it would have been stacked away in separate appraisal documents or separate customer feedback systems. But intuitive tech powered by AI (artificial intelligence) can collect real-time big data and develop a unique professional DNA for every employee with an engine to find opportunities for the improvement of skills. This way, a real-time feedback and follow-up loop is created, to and from the worker and the business, including recommendations for personalized training and development for the employee.

Moreover, tech can find and administer quantifiable competency skills connected to the performance of each employee. An employee can ask the manager for feedback. The manager can reply quickly with an evaluation of how the employee has reached the KPIs linked with the competency skills, which result in improved customer service delivery. The manager can offer meaningful rewards and guide the company to relevant training courses, which improve the performance of the employee and improve customer service.

Attempting to manually manage an employee engagement programme creates a backlog in the programme. Intuitive and streamlined tech allows employees to offer and receive feedback and obtain coaching and training for performance enhancement, works in parallel with premium customer service by increasing the speed at which required data for improvement of the process must be implemented.

Businesses looking to create an employee engagement programme must consider the form it will take. Setting up a tech-based platform requires

  • Surveying the company’s employees to understand the business’ pulse. Consider what value the programme will bring to them and to your customers.
  • Measuring the employee engagement programme connected to customer outcomes using tech, which allows real-time data analysis, with results connected to the performance of the employee.
  • Find brand ambassadors whose performance and behaviours align with those of the business. The model employees are performing actions, which allow them to lead the charge for communicating and organising the advantages of engagement. They know how to convey the value of every employee’s performance and the impact on customers’ success in addition to the success of the business.
  • Recognizing a job well done. It sets the foundation for building role models who’ll be followed by other employees in the company, creating an informal peer-learning for other employees to observe and copy.
  • Building a smart rewards programme and identifying what qualifies as rewardable results and behaviours.
  • Introducing networking and collaboration tools, which allow engaged employees to collaborate and interact internally and externally by using new methods of communication, interaction with customers, and resources outside of the business, and to provide knowledge. This way, employees can become power contributors, stakeholders, and problem solvers adding to the daily progress and support of the business’ objectives.

Businesses, which fully leverage comprehensive, real-time data-powered, and intuitive technology can develop an efficient and powerful employee engagement system, which in turn, offers real advantages.

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