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Turbocharging Employee Engagement

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  • 1. turbocharging employee engagement A Towers Watson Case Study
  • 2. a successful business is like a powerful sports car
  • 3. it moves quickly
  • 4. turns nimbly
  • 5. and handles curves without losing momentum
  • 6. but sometimes a business, like a car, will hit a speed bump
  • 7. go into a ditch
  • 8. or run out of gas E FUEL F
  • 9. regardless of the driving conditions, both perform best when they have strong engines
  • 10. for a Ferrari, the power comes from a 500 horsepower, V12 engine -6
  • 11. in a corporation, the engine is employee engagement
  • 12. employee engagement refers to the broad & trusting connections people have with an organization
  • 13. an engaged workforce gives an organization the power it needs to climb the hill to prosperity
  • 14. and to make that climb FASTER than the competition
  • 15. companies with a highly engaged employee population have significantly better financial performance... 3% 5% 3% 7% 1% 9% 5% 1% 6% 7% 5.75% 3.44% difference in operating margins difference in net profit margins ...than those with low engagement
  • 16. they also produced shareholder returns 9.3% higher than the returns for the S&P 500 Index from 2002 - 2006
  • 17. we found that employee engagement rises when people experience a combination of... ...effective and caring leadership
  • 18. appealing development opportunities,
  • 19. interesting work,
  • 20. supported by tangible and intangible rewards
  • 21. the Towers Watson research uncovered two elements that have a particularly strong influence
  • 22. 1 senior management’s sincere interest in employee well-being
  • 23. the opportunity an employee has for personal development of skills and abilities 2
  • 24. manager-delivered recognition of employee performance boosts engagement the way a turbo charger cranks up a sports car’s horsepower
  • 25. recognition from the immediate manager can give a powerful lift to the two principal engagement drivers: opportunity and well-being
  • 26. recognition from the manager boosts employee engagement an average of 38%
  • 27. departments and work groups, of course, are the supervisor’s home turf, the place where he or she has the greatest impact as a leader and as a source of appreciation
  • 28. these are the venues where a pat on the back,
  • 29. thank you! a sincere word of praise in front of the team
  • 30. and the presentation of an commendation award has great power to increase employee engagement
  • 31. most organizations have recognition programs or other mechanisms that managers can use to show appreciation for high performance
  • 32. failure results not from the lack of recognition methods, but from the execution of the manager
  • 33. effective recognition from managers, encompasses three basic requirements
  • 34. 1 inclusiveness 2 3 communication trust
  • 35. only 56% of survey respondents agreed their immediate managers recognize & appreciate great work
  • 36. manager’s need to improve their recognition practices of INCLUSIVENESS I frequently receive recognition at work 59 36% everyone has the opportunity to be recognized at my organization 47% percent responding favorably
  • 37. manager’s need to improve their recognition practices of COMMUNICATION my immediate supervisor communicates openly 59% my immediate supervisor encourages me to suggest new ideas and methods for doing things 56% percent responding favorably
  • 38. manager’s need to improve their recognition practices of TRUST I trust my immediate supervisor 58% management trusts the judgement of people at my level in my organization 53% percent responding favorably
  • 39. clearly there is room for improvement
  • 40. with the right tools and training managers have the ability to impact employee engagement significantly
  • 41. companies with higher engaged employees generate more marketplace power than their competitors
  • 42. APPRECIATE GREAT WORK 2010 Towers Watson, The Power of Recognition From Managers: The Engagement Engine