Redefine Employee Engagement Today for a Prosperous Tomorrow
March 18, 2015 | Posted in Blog, HR Management, What Employees Want
Whether it’s improving employee engagement, increasing growth opportunities, achieving greater efficiencies or expanding skill sets, organizations across the country have similar goals. That means they also face many of the same challenges. With the correct learning management system (LMS), organizations can better meet these demands, while also creating a more nimble and productive workforce.
Before diving any further into the benefits of LMS, we must first look at one of the largest problems facing organizations today: the engagement crisis.
Employee engagement can’t be an afterthought anymore. It has too much impact on a company’s bottom line. According to research firm Bersin & Associates, companies spend nearly $720 million a year on engagement, and forecasts predict the amount soon will grow to about $1.5 billion. If companies are spending roughly half of what is estimated for the near future, what do they have to show for it now?
Deloitte’s global study of human capital trends paints a clearer picture of companies struggling to engage our 21st-century workforce. Only 13 percent of employees worldwide are actively engaged at work. Furthermore, when asked to evaluate their performance-management practices, only six percent believe their current process is worth the time, while 58 percent called their process “weak.”
When thinking of this new world of employee engagement, consider it a commitment to achieve an organization’s overarching goals and motivation for employees to contribute to overall business success.
But herein lies the problem: Today’s workforce has evolved; its members want and expect more out of the companies for which they work. Previous views of engagement have to change if organizations want to address the issue at hand.
Engagement isn’t something you can just “fix.” Organizations have to make a long-term commitment to continuously help employees learn and grow. Successful engagement is typically measured through one-on-ones and surveys, which could be conducted annually, quarterly or monthly, depending on your preferred frequency.
Time for innovative engagement strategies
How long does it take your new hires to reach full productivity? Is your employee training consistent across your locations? It pays to find out.
As business demands evolve, professionals at all levels have to continuously re-skill themselves to stay current and relevant. Corporate training programs should evolve as well to provide employees long-term development paths, up-to-date content and a more engaging digital learning experience.
This is the first post in our four-part series. Stay tuned to learn how your company can utilize a learning management system to drive organizational capability.