How Employee Engagement Can Impact Profitability and Revenue

April 27, 2022

 

Employee satisfaction and engagement are finally taking their place in the world. The last decade has seen a slow shift toward prioritizing the employee. But, in the last two years, and since COVID-19, it has now shifted to center stage. Employee engagement is about protecting your most valuable asset, your employee. And for most companies, this means a significant shift in the management of the employees.

So, we asked, what exactly is employee engagement and how does it actually impact your organization? How can a more engaged, and more satisfied employee be more productive and generate more revenue for your organization? Let’s take a look.

 

Appreciated and Valued Employees Are More Productive

Statistics have shown that a more valued and appreciated employee is far more likely to be more loyal to the brand and will take pride in their work. Employee appreciation has been shown to directly impact the willingness to work and has directly contributed to up to 21% increases in profitability.

Remuneration aside, employees who are recognized for their work and who receive bonuses, benefits, and public appreciation are going to be more productive and loyal. So, things like monthly awards, thank-you gifts, bonuses, and recognition are vital to keeping your employees motivated and satisfied in their jobs.

Another consideration is the review process. In a lot of cases, the monthly or annual review process is a dreaded encounter. However, if you use the opportunity as a useful communication tool and a time to recognize and thank your employees, you might see a significant shift in profits.

 

 

Open, Transparent Communication is Key

Let’s stick to that topic. Engagement is centered around communication. And some of the more demotivated employees in the world are the employees who do not feel like they are included and part of the organization. So, transparent, open communication is certainly preferable to keeping your employees in the dark at all times. In fact, statistics show that highly engaged teams show 21% greater profitability.

So, re-look at your company’s communication and engagement policies. How often and how easy is communication for your company. When it comes to one-on-one meetings and training, how open are you to listening to your employees’ ideas and contributions? How much are you providing them when it comes to useful tools and skillsets to do their jobs properly?

It is also worth your while opening up communication in your organization with various online tools and platforms. Look at tools like Slack and Trello or monday.com, for example. Slack provides real-time communication solutions for your entire company, with access to individuals, teams, departments, or company-wide. Trello or monday.com, on the other hand, are great tools for collaboration, and having a deep insight into various tasks and projects.

 

Health and Wellness Play a Large Role

Over the years, more and more emphasis has been put on the workplace’s responsibility for employee wellness. Engagement and wellness are inseparable. The truth of the matter is that healthy employees are happier and show higher rates of job satisfaction. So, it has become more and more necessary for workplaces to provide a place of wellness to their employees.

There are a number of options for you to choose from. From healthy eating programs to providing them with gym memberships, exercise incentives, or even setting aside hours during the day to practice meditation or yoga collectively.

Some companies have integrated health and wellness spaces into their office space. Whether it be a harmonious chill-out room, a games area, or even a healthy eating nook with fresh fruit instead of a vending machine. Healthy lifestyles can also be incentivized with days off, bonuses, or recognition in the company.

 

Work-Life Balance is Critical

Similarly, work-life balance has also become more and more mainstream. More satisfied employees have come from companies that take an active interest in work-life balance. More emphasis has been put on flexibility in the workplace, an understanding of family needs, and mental health. In fact, 96% of employees believe showing empathy is an important way to advance employee retention.

Across the world, the four-day workweek is being tested out and is showing significant results. Employees are showing higher levels of productivity and loyalty when they are able to balance work and their life.

So, whether that includes health and wellness, family, or just time to relax, unwind and mentally prepare themselves for the next work shift, this balance has proven itself to be key in heightened employee engagement.

 

The Bottom Line

In wrapping up, the simple question that more and more companies should ask themselves is “how would I want to be treated?”. It is important to point out that not everyone is the same, however, open, respectful communication is key.

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