How do you measure impact when it comes to employee engagement? What does it truly mean for an employee to be contributing to the success and the growth of your business? During his time on Business Growth Café, Tim Silvera, President of Optimum Comp Advantage, discussed the importance of aligning your workforce with the success of the business, adding that if you don't have an incentive plan, it's hard to communicate alignment. Incentives are important, for large corporations and mid-market companies alike, to reward team members for the company’s performance. But how do we as leaders ensure that our goals and objectives are being translated to the bottom line?
The answer: set short-term milestones. By focusing on current, achievable goals, we increase the measurability of success, and also reduce the impact of turnover. While it is important to have a strategic mindset when it comes to future business growth, we need to set up a current, step-by-step plan to get there and bring those visions to fruition. Leading in the here-and-now increases employee engagement and holds departments and team members accountable for bringing results to the table.
Once you know what performance goals you have for your team, it is then important to identify metrics for measuring success, whether it be financial, revenue, etc., as well as how you wish to incentivize high-achievement.
A staggering percentage of American employees, as many as 85%, are disengaged or unhappy in their jobs. While much of the employee engagement focus is on “extra” things, it is important to look internally as well, and consider the baseline for what is preventing your team from not being an engaged employee. The biggest, strongest engagement strategies aren’t necessarily the “fun”, external engagement strategies, but rather, the personal things that your team is doing on a day-to-day basis to drive the success of the business. While additional engagement opportunities can only help the business as a whole, engagement in the job itself, and how it is driving the success of the company, should always be the primary focus. For more insight on this topic and much more, listen to my recent interview with Tim Silvera, President of Optimum Comp Advantage, on my radio show, Business Growth Cafe, here:
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