A recent study by the Society for Human Resource Management has put some hard figures on the effectiveness of tracking employee engagement.
The study (of 770 HR leaders) had some very interesting outcomes. 76% of companies with a formal recognition programme report an increase in productivity. Where employee engagement levels are tracked, companies reported:
“their employees were satisfied with their level of recognition for a job well done; thought managers and supervisors effectively acknowledged employees; and, that employees are rewarded according to performance. Those respondents at companies without a recognition program agreed with each of those statements at much lower rates.”
What’s more, the 15% of HR leaders in the study that go further and track the effectiveness of their recognition programmes stated they could clearly see an increase in productivity, engagement, return on profit margins, and employee and customer retention.
Worryingly however, less than 50% of respondents track levels of employee engagement, this is a major concern.
We’ve long been advocates of using surveys to track and monitor employee engagement, it is such an easy, inclusive way to gain feedback and track and monitor levels of engagement within an organisation. In fact, we advise many of our clients to monitor on a more regular basis. When implementing change as a result of survey feedback – you want to make sure that the changes you are implementing are having the desired effect. The last thing you want is for the changes to have a negative impact!
The above are clear illustrations why we strongly advocate that an employee engagement survey be ‘part’ of your engagement strategy – allowing you to gain a benchmark of where you are now and then track and monitor the effectiveness of change over time. Surveys in isolation are not always helpful – it is so important to track and monitor how your company is doing from survey to survey.
As Peter Drucker stated “What gets measured gets done!”