Increase your productivity and profits in 2020

How?

Easy, increase your colleague engagement. I’ll tell you how here.

First, what is colleague engagement?

It’s a work based approach that creates the right environment for all colleague to give their best each day, be committed to the companies goals and values, motivated to contribute to the companies success and have a sense that the company is looking out for their wellbeing.

Something you want every colleague in your business to feel.

Sounds great right, but what will it deliver for you?

Because you’re in the results business and if your going to invest in this you need to know its going to pay off.

Well according to Gallup, highly engaged teams show 21% greater profitability. They drilled down into the date to find that actively engaged colleagues brought ￡2,400 more profit to the business annually than those who were less engaged.

Bain & Company detailed in their research that over a period of 7 years, companies with more engaged colleagues grew revenue 2.5x more than companies with less engaged colleagues. So it can also be sustained.

How do I create colleague engagement?

There are a few steps you need to consider and the first you may already have in place. 

Purpose

What is your companies purpose? What do you want to achieve that transcends money and success. What is you companies belief, culture, that all of your colleagues can look at and say. “I believe in that”?

Ikea is a good example of this. Their purpose is:

“To create a better everyday life for the many people.”

Something their employees rally behind.

Starbucks have an awesome one,

“To inspire and nurture the human spirit one person, one cup, one neighbourhood at a time.”

These are things your colleagues can believe in, which is important because your colleagues have to make your companies beliefs, their beliefs. It’s the only way they’ll go through brick walls for you.

Communication

Communication needs to be key, firstly you need to communicate your purpose. Clearly and consistently every day. It needs to be on mouse mats, mugs and screen savers. It needs to be the way in which you live your company life and it needs to start at the very top and filter down.

You also need to get better at other types of communication. It’s a known fact that if the human mind is left to draw its own conclusions it will quickly go to one extreme or the other. Which for companies is going to leave colleague feeling disappointed when they find out the truth or worried until they find out whats really happening. Neither are good situations to find yourself in.

The answer is to tell people the truth as quickly as you can. People like bad news that’s the truth more than they like silence. And way more than a blanket “we can’t tell you yet” speech

Motivation

Your colleagues need to see that they have a future with your company. That means having a clear career pathway and the training and development to support it.

Setting up regular 1-2-1’s and appraisals are vital so colleagues know exactly how they’re performing and what they can do to improve. They allow you to see who’s star is shining brightest and provide them with the support and development they need.

Think about it; if I can’t see a career path mapped out in front of me and I have no purpose or belief to get behind because no ones telling me whats going on. How am I going to be motivated to work hard for you?

Wellbeing

Finally, you need to support them as a human beings, not as human capital. By that I mean see they as a person, with family and problems and loves. Don’t see them as the amount of money they can make you.

Work with a wellbeing specialist to see how your company can make changes to better support your colleagues.

A genuinely caring workplace that promotes happiness at work is proven to be a more productive and profitable workplace.

So there you have it, Company Purpose, Communication, Career Development/Training, Motivation and Wellbeing.

Just some of the ways in which you can increase colleague engagement, create a more productive workforce and make more profit.

Article Written by Gary Norton

I have taken an L&D team to award winning heights and to number 22 on the Sunday Times Best Companies to work for list. I have a proven track record in leadership and management and an extensive knowledge of colleague engagement.

I can help you transform your companies colleague engagement so get in touch today via direct message.