As I was preparing for a leadership development program, I came across a research report from the Corporate Executive Board entitled, “Driving Performance and Retention Through Employee Engagement.” I was pleased to see the authors refer to the “voice of the workforce” as a methodology to be used to protect against unwanted attrition and safeguard productivity.
The top 10 findings of the study reiterated the similarities between consumers and employees:
1. Successful engagement strategies begin with an outcome-focused definition of engagement.
2. Employee engagement has a significant impact on both employee performance and retention.
3. The majority of employees are neither fully committed nor uncommitted — they’re on the fence.
4. Organizations exhibit dramatic differences in the engagement levels of their employees. I would bet there is a strong positive correlation with engagement levels of employees and client/customer satisfaction.
5. There is no high-engagement or low-engagement “group.” There is no correlation between any key demographics and levels of engagement,
6. Emotional, rather than rational, engagement is most important to performance. Just as consumers buy based on emotion and then rationalize their purchase after the fact.
7. Compensation and benefits are much more important to retention than effort.
8. The manager is the enabler of other, more important, forms of employee commitment.
9. Building a culture of communication, integrity and innovation is most critical to engagement.
10. To create and sustain a high-engagement workforce, organizations must focus on four critical leverage points: the business, key contributors, engagement barriers and the culture.
Do you see the similarity between employee and consumer engagement in your business?