Employee engagement is a broad term in the context of the workplace environment. Over the years, it has become relevant and increasingly popular among organizations across different sectors. With rapidly changing staff preferences and the rising adoption of remote and hybrid models, workforce engagement management has become an essential part of HR policies.
There are several ways to keep modern workforces engaged and involved. However, organizations with an established work culture and proper rules and regulations are more likely to achieve employee engagement. Moreover, having a system of staff input and feedback can also contribute to active engagement in core activities.
So, what’s workforce engagement management and how can this lead to higher corporate growth? Let’s answer these questions in this article.
What is Workforce Engagement Management?
Workforce engagement management refers to the process of maintaining a positive and productive work environment to keep employees engaged. It involves designing and implementing strategies, programs, and initiatives for staff well-being and professional development.
Besides, staff engagement management is aimed at increasing employees’ participation in decision-making and strategic planning. For this purpose, key executives establish a system of recognition for outperformers and provide ongoing feedback to promote better work-life balance.
Additionally, they need to understand the basic needs, preferences, and aspirations of their personnel. Based on these assessments, staff members should be provided with the necessary support and resources they need to succeed in their roles.
Difference Between Employee Engagement and Employee Satisfaction
Some employers believe employee engagement is similar to employee satisfaction. But in reality, both are completely different terms with distinct implications on organizational performance.
Employee engagement has nothing to do with making staff happy or satisfied. In fact, employees working in flexible hours might be happy with their jobs that suit their personal and professional goals. However, when we talk about workforce engagement, it is an emotional connection with an enterprise’s vision and mission established on the strong foundation of trust, loyalty, and compassion.
In simple terms, a happy and satisfied worker will complete his/her assigned responsibilities professionally. On the other hand, an engaged employee will go the extra mile to bring out-of-the-box solutions and exceed the employer’s expectations.
Why Workforce Engagement Management is Essential?
Employee engagement management lays the foundation of a loyal, productive, and innovative workforce. It can lead to higher job satisfaction, increased team productivity, and lower turnover rates. Companies with effective workforce engagement management policies in place are more innovative and always come up with unique solutions that yield positive results.
To better understand the importance of workforce engagement management, let’s look at some stats.
Harvard Business Review published a report in 2013 to analyze the impact of employee engagement on performance. The findings of this survey indicated that over 71% of professionals consider employee engagement key to achieving organizational success. However, only 24% of respondents said they are highly engaged in their respective organizations.
Another study conducted by Gallup revealed that engaged workforces are 21% more productive and contribute to corporate growth. Besides, workforce engagement results in lower absenteeism, higher retention rates, and commitment from teams to deliver impeccable results.
Top Benefits of Workforce Engagement Management for SMEs
Here’s how workforce engagement management can help SMEs grow and stay competitive:
1. Encourages Workplace Innovation
Modern problems need innovative solutions. Businesses having teams with innovative mindsets and growth-oriented approaches outshine their competitors and achieve their desired goals with success.
And when we talk about encouraging workplace innovation, employee engagement management plays a key role. When your personnel is happy and engaged, they work hard to solve complex problems and find innovative solutions. Besides, a strong emotional connection with the organization pushes its employees to reinvent traditional practices to deliver better results.
2. Lowers Turnover Rates
The second benefit of workforce engagement management is that it helps companies reduce employee turnover rates by improving employee engagement and job satisfaction. When employees feel valued and supported, they are more likely to stay with the company for the long term.
Eventually, the costs associated with recruiting and training new employees are significantly reduced with effective workforce engagement policies in place. Eventually, companies can save the costs associated with staff recruitment and training while maintaining team performance.
3. Improves Staff Productivity
Employees want their voices to be heard consistently and professionally. And when a company establishes a culture of support and reward, its employees tend to perform even better and contribute to business success.
Moreover, SMEs can also improve employee productivity by using tools such as performance tracking and employee feedback. Robust workforce engagement management policies can keep workers motivated and focused which leads to increased productivity.
4. Boosts Corporate Growth and Development
Workforce engagement management improves the customer experience by ensuring that employees are well-trained, engaged, and motivated to deliver high-quality service. This results in a more satisfied customer base which in turn helps to increase sales and revenue.
Similarly, businesses can foster a positive workplace culture by encouraging employee engagement and involvement. This leads to improved job satisfaction and boosts corporate growth and development.
Workforce engagement management is a complete process of keeping employees engaged at all levels to achieve higher productivity. Studies conducted by Harvard Business Review and Gallup indicate that workforce engagement significantly contributes to business success.
Some of the key advantages of having an engaged workforce are workplace innovation, reduced turnover rate, and improved staff productivity. Besides, implementing workforce engagement management policies contributes to corporate growth and development and helps companies stay ahead of their competitors.