First Things first, engaged employees are more productive, focused and more loyal towards the organization. Also according to a study by Hay Group, organizations with high employee engagement bring in 2.5 times more revenue than companies with lower employee engagement.
What are its implications in the pandemic, the economy is already struggling?Well read on.
Employee Engagement- Understanding the buzz word
“When people are financially invested, they want a return. When people are emotionally invested, they want to contribute.” – Simon Sinek, Author, Start With Why.
Employee engagement in a nutshell is the emotional commitment the employee has towards the organization and its goals.
It is just not, the employee satisfaction or happiness, but the extra mile they are ready to go for the organization.
COVID-19, Productivity and Employee Engagement: A Juxtaposed View
Employee engagement is directly proportional to productivity.
Reviewsnap,a common software tool, found out that the companies with engaged employees outperformed those which did not by about 202%.
These propositions were built in ordinary circumstances, but the times now are unusual.COVID 19 has sent the world home and economies are struggling to breathe
Aon Hewitt in their Trends in Global Employee Engagement survey noted:
“ In general we see an odd trend that as GDP goes down, engagement goes up. Likewise, as unemployment rates go up (an economic indicator highly correlated with changes in GDP), we also see engagement go up. This seems puzzling on the surface, as one might guess that engagement would fall under scenarios of economic stress and worries of job security”
So, what is the relationship between employee engagement and economic volatility?
It was a rhetorical question, but the point of consideration here is that this could be because of the global panic and employees might be just thankful to have a job in the wake of low employment opportunities available.
Before the bubble bursts,the top management needs to intervene in order to bring a sustained and balanced cycle of employee engagement and productivity.
Crisis is a short term scenario but employee engagement is a long-term function of productivity.
.The hard truth is that the premise here cannot be built solely on economic parameters.
Economic unstability sure is one of the points of concern in COVID-19 crisis, social distancing and shift to work from home are yet another important variables.
Work from Home(WFH) is an inevitable measure of social distancing to keep ourselves safe from virus.
But work from home under these circumstances has a whole new set of challenges.
Some of these challenges include isolation anxiety, strained work-life balance, global panic and its undisputed effects on employees, sudden changes in lifestyle, disturbed routines and etcetera.
But, then how to boost employee engagement?
Communication: Keep in touch with your employees, communicate openly and empathically. With remote employees and virtual teams, effective communication is the key. Leaders need to make their presence felt in times of crisis,that they stand one with their employees.
Counselling sessions: Engage in programs which help your employees tackle anxiety, maintain work-life balance and reduce stress, Opt for counselling sessions for your virtual team.
Fitness Focus: Encourage your employees to focus on their fitness also, because only ten minute of daily exercise can enhance mood,supply oxygen to your brain,relieves stress and brings better concentration, thus contributing to overall happiness.
And studies suggest happier employees are 12% more productive than the rest.
Executive Presence:A recent study showed that roughly 50 percent of how employees perceive their organization’s environment is due to the influence of their leader. Teams working under individuals with strong executive presence have greater productivity because they trust and respect their leader. Now is the time to step in with your wow factor shoes and calm some aching nerves.
Honour their space: WFH also brings teams to share a part of their personal space, take in consideration to their availabilities, respect their privacy and maintain the office hours decorum.
Let us help!!
These are different times for business and leadership. Business continuity and digital transformation have gained a prominence. These initiatives are important and need engaged people and teams.
We understand this need and to support you we offer:
10 minute daily fitness program.
Specialised and confidential one-to-one interventions for anxiety support.
We can also help to build in some executive presence while your employees are engaging themselves in maintaining themselves physically and mentally.
We offer a LIVE in app sessions on our Twelve week challenge app.
With our certified counselors and fitness coaches take the tide by stride and invest in your employees.
There is a tide in the affairs of men, Which taken at the flood, leads on to fortune.
The tide therefore needs to be taken seriously and managed tactfully.
Till then Stay Safe and stay at home.