A recent research study conducted by TNS Employee Insights shows that engaging employees at work through programs like incentive rewards and loyalty programs, can improve the overall functionality and performance of a company by 20% points. MolsonCoors found that engaged employees were five times less likely than non-engaged employees to have a safety incident and seven times less likely to have a lost-time safety incident.
Using these types of programs by giving small incentives such as a small denomination gift card, or larger gifts for bigger workplace milestones makes employees feel noticed. Employees who are engaged at work feel as though they have a meaningful voice within the organization, and recognize effective leadership more readily. They feel as though they are being noticed, invested in, and guided professionally. Employees who feel engaged are also more productive, which leads to greater company revenues and 87% reduction in likelihood of employee departure. Here are four ways to invest in employee engagement and increase performance.
1. Link employee engagement to business objectives and measures of effectiveness. The more substantial the direct connection the more clearly employees can view their role.
2. Invest in employee programs specifically designed to increase engagement by supporting business objectives.
3. Establish a system of measuring engagement and the effectiveness of these programs. Getting employee feedback about the programs is the best way to gauge their success.
4. Make adjustments based on the discernible results. Maintaining flexibility in employee engagement programming is key to a positive outcome for both employees and the employer.