In one of last year’s posts we discussed the “engagement surprise,” which was identified as the measurable return-on-investment (R.O.I.) that many organizations were recognizing from their engagement efforts.
In other words, engagement can be a profit center rather than a cost center.
However, as presented in a recent Engagement Strategies Media article, the approach must be “intentional.”
Not only must leaders be strategic in their approach to engagement, but they must also stay-the-course with the intention of building a culture of engagement within their organizations — a culture in which people are engaged, highly-motivated, and highly-productive.
This is no small feat… but the data is clear, the R.O.I. can be significant. Typical objectives associated with this formalized approach to engagement include:
- Increasing sales or revenue.
- Increasing customer engagement and referrals.
- Engaging channel partners to provide more commitment to products and services.
- Improved recruiting and hiring.
- Engaging volunteers for not-for-profits.
- Engaging employees to achieve organizational goals, more consistently support the brand, work more productively, and exhibit greater loyalty.
- Engaging employees to place added focus on quality, safety, and wellness.
These results and many more have been documented time-and-time again by the Enterprise Engagement Alliance, which was founded in 2008. They provide members and other interested parties with a wide-range of resources and data, much of which is available at no cost.
As you may know, Engagement World is a conference and expo taking place this week in Orlando, Florida.
The event is “dedicated to highlighting the world of Enterprise Engagement in business and its many strategies and tactics.”
During a few of today’s presentations some simple yet important messages were shared and reinforced:
- More of the nation’s top organizations are documenting increases in financial performance as a result of increasing employee, partner and customer engagement.
- Employee engagement begins at the recruiting step – a great case study was presented by Northwell Health (61,000 employees) outlining how they revamped their recruiting and on-boarding practices. To truly engage customers the workforce must be engaged first.
- Among the key drivers of employee engagement:
- Clarity in roles and regular feedback
- Two-way communication with leadership
- Ability to impact the work environment
- Ongoing professional development and training
- Sense of connection with the organization’s culture and values
Over the past several years much has been written about the emerging field of enterprise engagement, which is a framework for achieving goals through people in a measurable way.
Organizations that have embraced this approach have found it is not only possible to achieve almost any goal that involves people—customers, distribution partners, employees, suppliers, and even communities – but also, to the surprise of many, to realize a return-on-investment in the process!
As a good example, possibly you are familiar with The Engaged Company Stock Index (ECSI)?
Read the full article…
Would you like to increase sales revenue, customer loyalty, and referrals?
How about motivating your channel partners so that they place added focus on your organization?
Would you like to implement and sustain a culture of continuous improvement? Or possibly increase the team’s focus on quality or safety, enhance overall wellness, or help them to work more productively?
All of the above-listed objectives are among the reasons organizations have chosen to proactively focus on engaging people; and all of the above-listed objectives can generate a measureable return on investment!
In fact, research from the Enterprise Engagement Alliance indicates that organizations will get the best results when they systematically:
- Develop realistic, achievable, and measurable goals and objectives
- Create a formal Engagement business plan outlining the desired outcomes, behaviors that lead to outcomes, key program components, roles and responsibilities, timeline, and return on investment.
- Effectively assess the people and the playing field to identify opportunities and obstacles to success
- Make sure people have the knowledge or skills needed to succeed
- Implement an integrated communication plan
- Foster an atmosphere of collaboration, innovation, and fun
- Reward and recognize so that people feel supported in their efforts
- Measure return on investment
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You’re probably hearing the word “engagement” more and more, and seeing troubling data indicating nearly 70% of the US workforce is disengaged, costing businesses billions. The challenge for most organizations has been how to foster and profit from engagement, whether it be with customers, distribution partners, employees, or suppliers.
As you may know, we have recently been certified as an engagement practitioner by the Enterprise Engagement Agency (EEA), and have structured an approach that is focused on results. While some are inclined to categorize engagement on the softer-skill side, the emerging field of enterprise engagement is based on 20 years of research, and provides a straightforward framework for identifying what people need to do to accomplish organizational goals, setting specific activity goals, and measuring ROI.
Common solutions to people-related challenges include:
- Engaging employees in a practical fashion to improve the workplace
- Increasing quality and productivity to improve the work
- Promoting wellness and reducing turnover
- Improving the customer experience
- Providing more proactive customer service
- Fostering more customer referrals or loyalty (retention)
- Enhancing the commitment of the distribution channel
Business leaders often think about “engagement” in terms of employee or workforce engagement, which is certainly a truly worthwhile pursuit.
However, emerging data shows that greater, even more sustainable gains can be made by engaging the full-spectrum:
- Channel Partners