IS YOUR WORKFORCE SLIPPING AWAY?
Global human capital trends show the importance of creating a unique workforce ecosystem as a key differentiator to compete in the future economy. By creating an emotionally connected workplace, employees, contractors (freelancers/ gig workers), leaders, managers, and teams will increase positive behaviors, effort in work-related activities, and excel.
According to Gallup, elevating engagement in the workplace resulted in the following significant improvements:
10% increase in customer loyalty/engagement
21% increase in profitability
20% increase in productivity — sales
24% less in turnover for high-turnover organizations
59% less in turnover for low-turnover organizations
Gallup's "State of the American Workplace" report in 2017 revealed that just 33% of American workers and 13% worldwide are engaged at work, which costs the nation $483 billion to $605 billion per year in lost productivity. That includes the price of absenteeism, workplace accidents, and increased health care costs.
Many work environment pressures that individuals face can impact overall employee engagement at your company. These slowly decrease employee performance and engagement until the employee barely delivers the minimum job requirements and eventually leaves the organization. According to Predictive Index, a “Talent Optimization” software company, the four forces that destroy engagement are poor job fit, poor manager fit, poor fit with the people on the team, and poor organizational fit. Let’s expand on each of them:
1) Poor job fit
Misalignment between someone's natural tendencies and their essential job responsibilities. Have you ever worked a job that didn't match your skills or personality?
2) Poor manager fit
Misalignment between manager and employee. If a manager isn't focused on inspiring their employees to be their best, they're not managing. They're managing tasks—not people.
3) Poor team fit
It happens when an employee doesn't fit in with the team members— for instance, lack of trust among co-workers, uneven distribution of work, or dysfunctional team meetings.
4) Poor organizational fit
When employees don't align with the company's culture or senior leaders, there's misalignment if an employee doesn't share your organization's mission, vision, and values. And even if they do, if they don't trust senior leadership, they'll quickly become disengaged.
So, how do you counteract these forces of disengagement?
You can successfully improve engagement when you address disengagement at the individual level. Once you understand an individual, you will realize how the employee fits into the workplace, on the team, and in a specific role. This situation is where using a “Talent Optimization” software platform would be beneficial to any organization.
In addition to relying on software tools, a company must consider individual coaching or executive coaching at the leadership level to help employees flourish in an organization. According to Shane Crabb, Senior Consultant at A&DC, in his research study, “The use of coaching principles to foster engagement” published at the Coaching Psychologist Journal in 2011, stated that through coaching dialogues, individuals and teams in an organization can work to utilize their signature character strengths, positively manage their emotions and align their values to those of the organization more effectively, ultimately serving to enhance their happiness, well-being and engagement, and thus be more likely to achieve peak performance.
If you are a leader who wants to improve employee engagement in your company, contact AlliancesHub to learn more about our “Talent Optimization and Analytics” and “Executive Coaching” services.
About Joe
Joe Bacigalupo, MBA, MPEC, ACPEC is a Managing Partner and an Executive Advisor at AlliancesHub International, LLC. AlliancesHub offers Change Management and Strategy Consulting, Talent Optimization and Analytics, Leadership Development, and Executive/ Leadership Coaching services.
Email: info@allianceshub.com, Phone: 469-287-2086, https://www.allianceshub.com