Employee engagement is known as one of the most important KPIs when it comes to business growth. It is vital for all businesses, including cutting edge crypto ones such as Bitcoin x. But how is employee engagement necessary for growth? Read on to find out.
Increased employee satisfaction
Many business owners and managers often get confused between employee engagement and employee satisfaction. Although the terms are related, they are in reality quite distinct. Employee satisfaction is measured by a worker enjoying their job, whereas employee engagement is where workers understand the company vision, buy into it and work hard to achieve it.
If staff are unsatisfied with their job, employee engagement is going to decrease. Finding ways to increase employee satisfaction will encourage staff to work harder and be more emotionally invested in the success of the business.
Reduced absenteeism and increased staff retention
When employees are more excited and interested in the business, they care more about success. As a result of this, they are less likely to take days off. In fact, it was recently found that employee absenteeism was reduced by 41% when employees are more engaged. Obviously, while occasional days off are an inevitable part of business, when this turns to higher and higher absentee rates, it can create major issues. Missed deadlines, missed opportunities, and it can also negatively affect the morale of staff picking up the necessary work.
Adding on to this point, your retention levels will also increase with higher employee engagement. Everyone knows that it is so much cheaper keeping an employee than it is to hire a new worker.
If an employee isn’t currently enjoying their job and doesn’t feel engaged, they are going to want to leave for a better one, sometime down the line. However, by doing what you can to make workers feel more needed and motivated, you can increase retention and employee loyalty.
Improve your customer service
Customer service is extremely important when it comes to businesses. It can be the difference between having high-quality loyal customers and ones that ignore emails and slam phone calls down!
When you have engaged employees, they’ll go the extra mile and ensure their customers are looked after and satisfied. When customers are more satisfied, you are more likely to see these customers buying more of your products/services and even providing great word of mouth reviews to their colleagues, friends and associates.
Productivity is one of the most important metrics for any business, big or small. Companies always try to find new ways to make employees more productive, whether it is installing stand-up desks or allowing them to follow hybrid work/office working arrangements. Keep in mind that every employee is different. That’s why it’s best to find out what they need to help improve productivity.
One of the biggest impacts on productivity is employee engagement. Engaged workers will work harder and smarter, meaning they’re more likely to meet and surpass targets and contribute to great team morale. Your business will see quick benefits with a more productive, engaged team.