09 Aug What Are Some Employee Engagement Initiatives That Really Work?
Many employers are concerned about employee engagement, and for good reason: Gallup confirms that employee engagement has a direct correlation with profitability, productivity, customer ratings, and turnover, among other key business outcomes. At this point, there’s no denying it; better engagement leads to better performance.
Yet, Gallup also reports that a staggering 87% of employees are not engaged across the globe. To remedy the issue, many organizations are seeking creative employee engagement initiatives. One thing many fail to realize is that there are tools already in place within every organization that can be used to drive engagement.
Compensation and total rewards, in particular, can be strategically leveraged to boost engagement outcomes. Let’s explore how:
- Appealing to the Generations: Taking an individualized approach to communication is essential, but with more generations in the workforce now than ever before, that can be a challenge. The secret lies in identifying the factors each generation values most. Measure participation in options like 401(k) programs, childcare, tuition reimbursement, and other benefits to see which are most valuable to each generation. Then, position your total rewards communications accordingly (read more about how to do that in #3).
- Clearing Up Compensation: SHRM states that organizations using pay-for-performance models can drive employee engagement by getting teams focused on incentives. For instance, you can adopt competency-based pay to encourage skill development, which will take a two-pronged approach: not only will employees be excited by the prospect of making more money, but they’ll have the opportunity to gain new skills, which is an intrinsic motivator. (To really drive engagement, you need both intrinsic and extrinsic factors.)
Most importantly, however, you’ll need to develop a pay philosophy and communicate it to all employees. That way, you’ll clarify expectations and avoid any questions of fairness.
- Total Rewards Communication: com calls communication “the cornerstone of engagement.” Your total rewards program is a viable engagement-boosting tool you already have at your disposal, but are you using it to its fullest advantage? In order to get employees to see the full value of employment (and potentially become more engaged as a result), your communications surrounding total rewards should be strong. Send timely reminders about enrollment, policies, and benefits options, keeping your messages succinct and accessible by everyone.
As with any issue in the workplace, low employee engagement scores will need to be using an ongoing approach. The good news is you can use the resources you already have available to their greatest advantage to make a long-term positive impact on strengthening engagement.
HRsoft is a leading provider of strategic talent management software that improves manager effectiveness and business results. Our full suite of cloud-based HR software solutions includes applicant tracking software, compensation planning software, total rewards software, stay interview software, performance management software, and content management software. To learn more about our Compensation Management Software, COMPview, click the button below!