How Investing in Your Employees Pays Dividends: Elly Colvin 😁

In the 8th edition of the JCR Journal, we speak to Elly Colvin about the importance of positive employee engagement.

"I'm Elly, one of the Founders of the employee engagement platform, eeda™ . After a long stint of feeling miserable at work, which was largely due to poor leadership and management, I felt that things could and should be better, and upon research I realised that I wasn't alone, as a shocking 90% of the UK workforce are disengaged at work; this presents a huge problem for both employees and companies, costing companies thousands every year in lost productivity, increased absenteeism and higher turnover."

All of Elly's thoughts and opinions are her own.

What is employee engagement?

Employee engagement is the dedication that employees have towards their work, their company and the commitment towards the goals of that company. It's how your employees feel on a Sunday night about the Monday morning coming up, it's what they say about their work life when they step away from it. 

How can you measure employee engagement?

Employee engagement contains many key factors to measure, such as the overall company culture, the leadership, the departmental teams and many more. There's a huge amount of research on the measurement of employee engagement from the likes of GALLUP and Deloitte, as well as new takes from trailblazers such as Pim de Morree and Joost Minnaar from The Corporate Rebels. Combining all of this research is key to understand how the modern workplace can truly measure employee engagement effectively.

The key considerations for companies when looking at measuring engagement is a combination of survey feedback, absenteeism, employee retention/turnover and the key metrics of profitability and productivity. In practise the way to measure is through giving your employees a real voice in the company on the key factors, actively listening and then acting upon the feedback. 

What are the benefits to a highly engaged team?

It's no secret that having a highly engaged workforce will benefit every area of your business, but also, who doesn't want a thriving happy team and workplace to spend their time every day? Companies who have highly engaged employees typically experience:

🔷 Over 23% greater profitability.

🔷 Up to 40% less absenteeism. 

🔷 Almost 60% reduction in turnover.

How can a disengaged team impact on recruitment & retention?

Disengagement not only comes with huge business costs, culture infections and morale impacts, it has a direct link with recruitment and retention. In the UK alone, the cost of replacing a single employee ranges from 50% to a staggering 150% of their annual salary, underlining the financial toll of high turnover rates.

In today's transparent world, where Glassdoor reviews and 'Best/Worst companies' lists are just a few clicks away, businesses no longer have the luxury of waiting for new hires to experience the company culture firsthand. The competition for skilled professionals is fierce, and organisations must prioritise engagement strategies to not only attract but also retain the best talent.

In essence, investing in employee engagement is a strategic play for long-term success in talent acquisition and retention.

Why are existing methods failing?

Existing methods are failing in the workplace due to their outdated nature. When the annual survey rolls around, typically after the flurry of bonuses or positive news, employees often find the experience boring and uninspiring. This format fails to keep pace with the modern, personalised tech experiences we encounter in our daily lives.

There's also often little incentive for employees to participate, as by the time their feedback is addressed, it's already too late, and a new month or quarter has commenced. Finally, there's an absence of rewards or recognition for employees who take the time to voice their opinions and provide feedback.

What is the best way of measuring employee engagement?

The best way to measure employee engagement is a more frequent and regular comprehensive approach, involving a combination of quantitative and qualitative methods. Utilising key performance indicators related to productivity, retention, and absenteeism can provide valuable insights into the effectiveness of engagement initiatives.

The best approach is a proactive mindset, your organisation is made up of human beings whose emotions and feelings fluctuate, so checking in on them once per year just doesn't cut it. Using a platform such as eeda™ , that captures disengagement in real-time will provide leaders with frequent and accurate data, and provides an experience that employees actually love. 

A huge thank you to Elly for her insight into employee engagement 😁

If you'd like further information regarding eeda™ , feel free to message Elly or email info@eeda.io. Alternatively, drop me a DM and I'll happily make an introduction.

If you'd like to get involved in future editions of the JCR Journal, feel free to DM or email james@jcrtalent.com 📧

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