July 06, 2023
The COVID pandemic certainly has changed the future of work for us all in various ways, yet many businesses regardless of the industry have all felt the pressure of one common challenge: in the new normal, employee engagement is hard to come by. So how can businesses maintain proper engagement from employees so that productivity and profitability don't take a hit? Let's start with "what is employee engagement?" and "what are the barriers to achieving it?".
What is Employee Engagement?
Employee engagement is defined as the extent to which employees feel passionate about their jobs, are committed to the organization, and put discretionary effort into their work .
Often times employee engagement is confused with employee satisfaction, which is actually considered a measurement of workload tolerance and the accepted rate of compensation for the said workload .
Think of it this way: while an employee may feel satisfied with their current workload and compensation, leading to them showing up every day, but still may not be connected to or engaged with the work he/she is doing. This may lead to a lack of motivation to go above and beyond. To put it simply satisfied employees show up to work, engaged employees show up, are productive, and contribute to company success.
Why Employee Engagement Is Important
Organizations with highly engaged employees have shown operating margins three times higher than those of companies with the lowest levels of engagement. Productivity is shown to be greater by 22 percent.
What Effect Does this Have on Your Organization?
Aside from the increase in productivity, the other most common benefit of employee engagement is a higher quality of production. In other words, employees aren't just doing the work, they are going "above and beyond". An engaged employee will tend to do more than the minimum requirement of them, working more diligently to problem-solve and serve customers.
Another benefit for your business, regarding receptivity and employee feedback, is you'll find there is more insight to gain from an engaged workforce. Consequently, this helps you to learn more about your business as well as cultivate growth and success.
How to Improve Employee Engagement
Now that we've gone over what constitutes employee engagement and what it can do for your business, it's time to ask the question "Well how do I improve it?".
There is one, somewhat simplistic method to improve employee engagement and that's to implement modern HCM Software Technology.
What is Human Capital Management (HCM)?
Human capital management (HCM) is defined as a combination of processes & solutions that organizations, typically HR departments, use to strategically manage employee functions and values.
Employee Engagement and HCM Technology
In a recent study , it was found that 88% of businesses across the world mandated or encouraged employees to work from home at the start of the pandemic. With the remote workforce seeing minimal to no decline even as the world moves on from the pandemic, most organizations are still adapting to the new normal and contemplating what can be done to improve their business with the way the future of work depicts.
What an evaluation of this approach will uncover is: while you maintain the ability to work on existing initiatives and projects — you lose the valuable connections that your human capital share when they can collaborate in person. So h ow can you drive employee engagement in a world where virtual connections are coming much more common than in-person? The answer is Human Capital Management (HCM) technology.
Through HCM software, companies can improve the following aspects of employee life and experience, ultimately promoting healthy employee engagement.
Communication
HCM technology can allow managers and employees to connect in real time. Should an employee need to make a request such as time off, administrators will receive prompt notifications, and each user can perform the required responsive actions instantaneously and at their convenience using any device, anywhere. Managers can forget about having to track each other down and execute documentation.
Transparency
A great HCM solution can break down the silos of the employee and administrative experience. With TruPay's Inspire HCM—payroll, HR, and time management are all accessed and managed with one single HCM platform , meaning no more multiple logins. Real-time data collection makes it possible to show every user all they want to know when they want to know it. An employee could view their accrual balances and benefits eligibility the same as an administrator—aligning all parts of your organization with efficient self-service tools.
Experience
To optimize any kind of engagement, whether it be with an organization, a web page, or a video game—it's all about the experience.
With HCM technology, give your organization and employees a hands-on and pleasant experience that turns employee data it into insight. It's easy for employees at all levels to view their data at glance, from any location using any compatible mobile device. Tasks are simplified at every level within the organization, reducing time spent and increasing efficiency.
Final Thoughts on Employee Engagement and HCM Technology
Employee engagement is something that most companies should desire to increase. Yet it can be difficult to know where to start assessing engagement levels and the barriers to optimizing it.
To learn more about how HCM technology can help create a healthier engagement for employees and your business, contact us TruPay today. Or listen to our podcast to learn more about Employee Engagement and the Future of HR .
