Want to increase profitability?
OK. We all know it. Creating true employee engagement in large organisations is no mean feat. True engagement (which doesn’t just come from a nice looking newsletter as we all know) depends on the combination and balance of many factors – leadership skills, communication, reward, development, culture and environment, line of sight, sustainability and so on….the list is a long one. Yet if an organisation gets it right – or as near to right as it can, profitability increases. I’ll say that slightly louder. PROFITABILITY INCREASES. By up to 20 per cent according to the Corporate Leadership Council. Which, unless we’re just here for the ride, is the whole point of an organisation’s existence (at least, in the private sector).
So why then do so many organisations procrastinate when it comes to making that leap of faith? Why do so many of them still see employee engagement initiatives as a cost rather than an investment? Why do they invest so little in internal communications and often HR, compared to external marketing, when with half decent measurement the results speak for themselves? Time and time again research demonstrates the financial benefits of increasing levels of engagement. We’ve seen dramatic results from our own work. To be fair, one could argue that many engagement initiatives don’t work – or there are so many of them the eyes start to glaze over. But it’s time the big white chiefs started to wake up and smell the coffee. There’s no time to waste. Invest in your people, do it right, and the £££’s will look after themselves.