How Engaged Employees Affect the Bottom Line
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This webinar discusses how engaged employees affect the bottom line. It defines employee engagement as similar to customer loyalty for HR. Research shows that only 30% of employees are engaged, with millennials being the least engaged. The webinar covers how to improve engagement through building an employer brand across social media and digital experiences, focusing on referrals, onboarding, growth opportunities like coaching, and measuring engagement. It emphasizes that engaged employees are less likely to leave, work more effectively and help improve the organization.
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How Engaged Employees Affect the Bottom Line
- 1. Start Time: 2:00pm EST Live Webinar: Webinar Audio: You can dial the telephone numbers located on your webinar panel. Or listen in using your microphone or computer speakers. Welcome! Employer Solutions Fast and Focused: Human Resource Topics Explained
- 2. | Employer Solutions Some Housekeeping Items • This presentation is about 1 hour long • All phone lines are muted • Please use the GoToWebinar Question box to ask questions • Copies of the slides are available under Handouts • An on-demand video recording of this session will be available at www.netatwork.com
- 3. | Employer Solutions Today’s Presenter Mark Boutilier Senior Solutions Engineer Net@Work Employer Solutions Practice Email: mboutilier@netatwork.com Phone: 207.480.4805 (direct) LinkedIn: https://www.linkedin.com/in/mboutilier/
- 4. Today’s Topic: How Engaged Employees Affect the Bottom Line This Photo by Unknown Author is licensed under CC BY-SA
- 5. | Employer Solutions What do we mean by Employee Engagement? Employee engagement is to HR what customer loyalty is to marketing and sales. Does your organization know its employees as well as it knows its customers?
- 6. | Employer Solutions How Important is Employee Engagement?
- 7. | Employer Solutions Source: http://www.gallup.com/poll/181289/majority-employees-not-engaged-despite-gains-2014.aspx
- 8. | Employer Solutions The problem That means 70% of employees do not feel engaged in their employment Source: Gallup Poll Millennials are the least engaged (only 28%)
- 9. | Employer Solutions Employee Engagement Points •Digital Natives •Employer Branding •Recruitment Marketing •Referrals •Onboarding •Planning for Growth.
- 10. | Employer Solutions Generational Shift 50%50% Up to 2010 Silent Generation (1925-1945) Baby Boomers (1946-1964) 40% 10% 45% 5% Since 2010 Baby Boomers 1946-1964 Generation X 1965-1980 Millennials 1980-2000 Silent Generation 1925- 1945
- 11. | Employer Solutions So ? ……. • Two-thirds of Millennials expect to leave their organizations in the next 4 years. • 63% feel their leadership skills are not being fully developed • Millennials in management (25% of all managers) rank personal values (64%) over meeting company objectives (56%) in making decisions at work. • Employee Satisfaction is believed to be the key to long term business success http://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html
- 12. | Employer Solutions Bridge the technology gap with consumer-like experiences Cloud MobileSocial Data Analytics Location AIContentApps Video Images Voice Text
- 13. | Employer Solutions Old HR apps built for transactions not engagement Old HR Apps New HR & People Apps Intranet ! Ticketing BI Learning management Recruiting ATS Performance Management HRMS $$ Payroll Onboarding portal Career site Spreadsheets “There is an error on my paycheck. Who can help me?” “Are there any good trainings to help me serve our clients?” “Who are our high performers and how do we learn from them?” “How do we enable our people to do their best work?”
- 14. | Employer Solutions Building the Employer Brand
- 15. | Employer Solutions Tailored View for All Aspects of Employment
- 16. | Employer Solutions Dashboards for Instant Access
- 17. | Employer Solutions Power to all your people Connect to your people in a whole new way Connected apps and products 50% better performance from companies with engaged employees than those without* Connected employees Connected contractors Connected communities Connected partners Connected customers
- 18. | Employer Solutions Where do your new employees come from? •Employee Referrals? •Social media? •Recruiters? •Walk-ins? •Job Fairs?
- 19. | Employer Solutions Building Company Brand with Recruits
- 21. | Employer Solutions Employer Social Responsibility 60% of millennial employees ranked employer social responsibility as very important in their employment decision.
- 22. | Employer Solutions 29% of job seekers use social media as primary job search Source: https://www.themuse.com/advice/job- seekers-social-media-is-even-more- important-than-you-thought
- 23. | Employer Solutions Employee Referrals Save Money According to an Undercover Recruiter study employee retention rates after 1 year are 46% for referrals versus 33% for career sites. http://theundercoverrecruiter.com/employee-referral-program/
- 24. | Employer Solutions Onboarding • “First” Impressions • Communicate Employer Culture • Reinforce Employment Choice • Establish Goals • Plan for Employee Growth • Oh yeah, and get the “paperwork” done
- 25. | Employer Solutions A Great On-boarding Experience Retains Employees • http://blog.octanner.com/editor-picks/an- onboarding-checklist-for-success-infographic
- 26. | Employer Solutions Planning for Growth • Continuous Performance Evaluation • Social Recognition Employee Rewards • Mentorship and Coaching • Targeted Learning and Development Plans • Succession Planning.
- 27. | Employer Solutions 360º Performance Appraisal
- 28. | Employer Solutions Managing Succession Planning
- 29. | Employer Solutions The ROI of Mentorship and coaching Source: http://chronus.com/blog/tips-revealed-employee-development-program-best-practices
- 30. | Employer Solutions Measuring the ROI of Mentorship and Coaching Return on Investment – (Proceeds-Cost)/Cost For Example . . . . . Assuming the cost to replace and train an employee is 150% of their salary Retained employee wages x 150 /cost in time and money of mentoring plan Cost in time and money of mentoring plan In a 2008 study, Sodexo found that after 4 years, their mentoring programs returned $2.28 in employee retention and increased productivity for every dollar invested or an ROI of 128%
- 31. | Employer Solutions Using Software to Manage Mentoring Programs
- 32. | Employer Solutions Targeted Learning and Development Plans Source: http://www.softwareadvice.com/resources/case-study-software-improves-employee-engagement/
- 33. | Employer Solutions Succession Planning •Identify potential internal candidates •Focus training and development efforts •Identify productive employees at risk of leaving.
- 34. | Employer Solutions Succession Planning
- 35. | Employer Solutions How do we measure Employee Engagement?
- 36. | Employer Solutions People Analytics •The amount of work that occurs outside of normal working hours
- 37. | Employer Solutions People Analytics •The number of network connections and time spent with people outside of their immediate team
- 38. | Employer Solutions People Analytics The percentage of participation in ad-hoc meetings and initiatives vs. recurring meetings and processes.
- 39. | Employer Solutions People Analytics •Time spent collaborating directly with customers outside of normal scope of work.
- 40. | Employer Solutions Pulse Survey
- 41. | Employer Solutions One-On-One Meetings
- 42. | Employer Solutions “Stay” Interviews
- 43. | Employer Solutions Employee Net Promoter scores
- 45. | Employer Solutions Engaged Employees • Less likely to leave • Work more effectively • Find ways to improve • Share Information with colleagues • Develop creative solutions • Provide suggestions • Speak up for the organization • Try harder to meet customer’s needs, leading to customer loyalty.
- 46. Webinar DetailsThank You For Attending! Mark Boutilier | Net@Work Senior Solutions Engineer (P) 800-719-3307 Ext 4805 mboutilier@netatwork.com | Employer Solutions 800-719-3307 www.netatwork.com netatwork.com/blog Net@Work YouTube Follow us on Twitter: @netatwork_corp Follow Net@Work on LinkedIn Follow Net@Work on Facebook Connect with