Why Employee Engagement Matters for Your Company

Employee engagement matters. I get it; if you're sitting as a manager and see the unemployment rate hovering at around 6%, it's easy to think that you could have your pick of the best talent. But, here's the thing, the knowledge economy has shifted things away from the industrial age. Therefore, you must engage your team and boost morale when times get tough.

 For generations, managers could make the rules and, often, have their pick among people who needed work. However, the knowledge economy means that expertise and knowledge could get taught, but you need qualities for each team member you won't know for sure they possess until you see how they work.

In short, what I’m thinking about are the essential skills that today’s workers need to possess for success in the digital age. A few of those qualities you want team members to have are the following.

·     Curiosity to learn and experience new ideas and things.

·     Resilience for when things fail. Failure is part of the learning process.

·     Flexibility so they can pivot and make accommodations necessary.

·     Enthusiasm for technology because almost everything’s going digital.

·     High emotional intelligence for working with other remote team members.

State of Employee Satisfaction

In the United States, as we know, employee satisfaction has been up and down for years. But, smart leaders know that they have to keep employees engaged, especially in the knowledge age. In 2020, employee engagement reached a high of 38%, according to a survey by Gallup. After the murder of George Floyd, it dropped to 31%, only to boost up to 40% in July 2020 in Gallup surveying.

Why Does Employee Engagement Matter?

While it’s great that we’re at about 40% in employee engagement, it still means that approximately 60% of workers aren't engaged. That's a problem. It's a big challenge for business leaders and managers. You see, in the knowledge economy, experience doesn't so much matter as do those qualities that I mentioned earlier in this article.

Unfortunately, when employees aren't engaged, they don't produce enough. And that has real financial costs. One study suggested a lack of employee engagement created a combined loss of $7 trillion for companies. That’s a tough pill to swallow for business owners who want to make a profit and lift their companies toward sustained profitability.

As a global entrepreneur, I've had to make the final decisions in hiring my team members. And, more often than not, I've gone with the one who has the qualities necessary for the knowledge economy with no experience over those who have brought expertise. Experience comes with training and doing. However, I can't train someone to be curious or quickly adapt to change. That's something that each member of a team has to bring with them.

Essential Aspects of Employee Engagement

At its foundation, employee engagement encompasses purpose and belonging with their work and within the company. Remember, people want to be part of something, and they want their work lives to matter and have meaning. So, even if you sell widgets, engaged employees understand that those widgets make technology essential for other businesses and the economy. See how that works?

So, what are the essential features of employee engagement?

1.    Work has meaning to workers. As I mentioned above, it doesn't matter what you produce or your company services; the work has to count. People have to know they work for the best company producing your product or service. Engaged employees come to work and know that what they do is vital and matters to the company's overall success. And because your business succeeds, so do they.

2.    Engaged employees believe in something more significant. When leaders and managers offer a clear vision, understanding, and team pride, it matters. Think of softball teams made of work colleagues. When team members feel connected to something bigger or are a part of something larger than themselves, it matters. That's why it's essential to foster a collegial and productive company culture. You want to create opportunities for people to come together out of work, and you want to ensure your team knows your vision during worktime.

3.    Making a difference isn’t only for nonprofits. Finally, people want to know that what they do makes a difference to someone. It could be to other businesses or colleagues in their work teams. The bottom line is that your team members want to do good because people care about positive results and not all the negativity that seems to be everywhere. So, remember, your marketing team has to message not only your external audience but also your internal group. As a leader, you want to give people that path to be part of something good, including corporate social responsibility.

? 2021 Wayne Elsey. All Rights Reserved.