Talent, Human Capital, Experienced Hire, Human Capital Trends, Retention

Perspectives

Meaningful work increases productivity

A Boston Business Journal series

​ In an era of heightened corporate transparency, greater workforce mobility, and severe skills shortages, employee engagement is a critical business issue, not just a topic for HR to debate.

Engaged employees are productive and profitable

An employer’s perspective, as shared by William K. Bacic, New England managing partner, Deloitte LLP

As I explained in my previous blog, engaged and productive people can be an organization’s greatest asset. When employees are engaged, not only are they more productive but they are also less likely to voluntarily leave an organization. Simply put, engaged employees are more profitable.

In an era of heightened corporate transparency, greater workforce mobility, and severe skills shortages, employee engagement is a critical business issue, not just a topic for HR to debate.

Research shows that today’s workforce is unengaged. In fact, according to the Gallup polling firm, in a 2013 study, only 13 percent of the global workforce was “highly engaged.” However, despite the engagement challenge; that same Gallup study found that 22 percent of respondents thought their organization has either a poor program to measure engagement or no program at all. These polling numbers indicate that organizations often find it difficult to implement policies and procedures that encourage employee engagement.

If you are looking to transform your organization and engage your people, unlocking an employee’s previously untapped potential could boost your organization’s performance a great deal. As I discussed last week, when an individual’s strong suits are incorporated into his or her daily role, the employee is likely more inclined to be engaged, happy, and productive.

It is also important to make work meaningful for employees; focus on leadership, learning, coaching, and being transparent about career development opportunities; reinforce the importance of a coaching and feedback culture anchored in learning and development; and teach leaders and people managers how to be authentic and transparent. Consider holding leaders accountable for building a strong and enduring culture, listening to feedback, and engaging and retaining their teams.

Lastly, measurement is a critical aspect of a successful endeavor. Leaders should consider putting in place real-time programs to evaluate and assess organizational culture, using models or tools to better understand where it is strong, where it is weak, and how it really feels to workers.

The old adage “culture eats strategy for breakfast” applies to organizations today. Companies should use 2016 as a time for change. By focusing on driving engagement through the right corporate culture, companies can improve execution, retention, and financial performance.

If you would like more information on employee engagement I encourage you to visit Deloitte’s Insight: Culture and Engagement.

HR today requires a new playbook

Read the full Human Capital trends report to learn about leading in the new world of work.

Global organizations today navigate a “new world of work”—one that requires a dramatic change in strategies for leadership, talent, and human resources. More than 3,300 organizations from 106 countries contributed to Deloitte’s Global Human Capital Trends 2015 survey, assessing the importance of specific talent challenges and their readiness to meet them.

Human capital trends

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