The success of a business can be measured in many ways, from units sold and financial success to client satisfaction. But perhaps in these times of labour scarceness and rising costs of living forcing salaries higher, employee engagement may be the most important measurement for many businesses today.
Here’s why you should be measuring employee engagement and how it can signal success in your business.
What is employee engagement?
Most simply, employee engagement is the enthusiasm and connection your staff holds for your business. It is the determining factor of motivation, effort, and commitment; three elements all business owners and managers should want to see in their staff.
The benefits of employee engagement on the business
Typically, companies with a highly engaged team see the following five benefits:
- Increased employee performance and higher productivity
- Improved relationships between team members and clients
- Greater profitability
- Higher employee retention
- Dynamic teamwork
Without a doubt, the employees who are engaged in the business are also energised by working there and have a passion that is obvious to those around them – including customers! The most engaged staff member raises the bar for those around them, going the extra mile and delivering outstanding service to teammates and customers alike.
Measuring employee engagement at Quantaco
At Quantaco we have just completed our latest employee engagement survey. We asked a series of questions to our teams across both our Sydney and Hyderabad offices to assess their views on Quantaco and our future together.
The results showed:
● An 85% participation rate – a great result to have so many people want to contribute their feelings towards the survey. This statistic by itself shows a degree of engagement across the team.
● 90% feel Quantaco is really placed to succeed over the next three years – it’s fantastic to have such enthusiasm for the work we are doing and support for the investments we are making.
● 89% of our team feels connected to the company goals – meaning they see a link between the job they do and the company strategy.
But we have some work to do:
● Work-life balance – is an area that many of our team would like to see improve. As we adjust to post-covid life we must continue to find a balance between working in the office as well as at home and fitting everything into our busy schedules.
● Social connection – is another area our colleagues felt strongly about and something that will be a focus for us in 2023. We will be ensuring we invest further into sustainability and other social responsibility projects.
We look forward to putting these things into practice during 2023 and continuing to ensure the high engagement and enthusiasm of our global team here at Quantaco.
Ultimately, regardless of the metrics, asking for people’s opinions and learning from the feedback is critical for taking steps to build a happier and more engaged workforce. And this is key to retention, development and ultimately business success.