Increasing workforce engagement to help improve customer service standards and productivity
Performance improvement specialist P&MM has launched an Employee Engagement Calculator to help organisations assess the financial impact when engagement levels change.
The calculator will benefit anyone responsible for engagement initiatives including HR professionals, internal communicators, finance directors and line managers. It will help build the business case for engagement activities, helping to identify, “How much should we spend on engagement initiatives?”, “What measures and targets should be in place?” and “What return I can expect?” The analysis resulting from the calculator will help to steer strategic initiatives and improve staff productivity.
The Engagement Calculator offers two levels of analysis. The first level identifies different staff engagement levels and calculates an estimated cost to the organisation in terms of productivity, absence and retention. The second level enables the indicators to be adjusted and therefore quickly identifies the positive financial impact that different increases in engagement can have, helping define measures and ROI criteria.
Adrian Duncan, motivation engagement specialist at P&MM Motivation, said: “Employee engagement continues to be a big issue for many organisations. Our own research shows that four out of ten staff (40 per cent) are not engaged at all and while 95 per cent of business leaders believe that workforce engagement is important, only a quarter (25 per cent) have actually done anything about it. Part of the reason is the multiple definitions of engagement, drawing on a wide variety of research and evidence, making measurement difficult. This tool uses the published evidence within a practical tool to help organisations build a more specific business case for engagement initiatives – and establish measures and targets to drive commercial success.”
According to Great Place to Work, there are four leading indicators that will create a “high trust environment” and are the basis of high engagement: Values, Empowerment, Recognition and Innovation.
Duncan added: “Although only one of the four leading indicators, Recognition is a core engagement driver through its impact across all the others. Executed effectively recognition embeds values, by empowering people to recognise & seek out what’s good, supports senior leadership integrity, fosters employee voice & can be used to encourage innovation.”
The calculator can be accessed here: http://staffmotivationmatters.co.uk/employee-engagement-calculator/