Employee Surveys That Boost Profit and Reduce Cost
By: Ripa Marina
How can employee surveys boost company profits and reduce costs and expenditures? Well-developed employee surveys do indeed aid in boosting the profit margin of the company while reducing the cost at the same time.
For a long time now, it has been a custom amongst firms and organizations to conduct employee surveys. However, the surveys that were conducted earlier gauged the level of satisfaction of the employees. Now, psychological experts, along with the corporate heads, have deduced that employers need to gauge the level of employee engagement.
Employee Engagement is a relatively new term and revolves around the relationship an employee holds with the organization. To be precise, an engaged employee is an employee that is emotionally committed to his or her work and emotionally committed to their organization. This emotional commitment results in a higher level of effort. This emotional commitment sets them apart from just being satisfied.
The description can be better understood when it is compared with Employee Satisfaction. How much satisfied an employee is with his job only denotes how happy he is with the work environment, with pay and benefits and with the returns that he or she is getting. Employee Engagement on the other hand means how much the same employee is concerned with the organization, the outlook of the organization and the success of the company as a whole. So rather than "what's in it for me" the focus of the engaged employee is "what's in it for the organization".
With this distinction, it is evident that both these terms and their connotation are completely different. An employee who is happy and content with the job will come to work in congenial mood and will have something positive to contribute to the environment. But that is about it; this employee is not going to work over time or go out of his way to improve the standard of customer satisfaction.
On the other hand, the employee who works extra hours because he believes that it will be better for the company without being guaranteed extra payment or an employee who serves to improve the outlook of the company even though no one is watching him for gradation. Such an employee, who is genuinely concerned about the firm, for which he works, is positively engaged.
Having such employees, is a great strength for any company. Businesses with highly engaged employees thrive, have a positive reputation in the market, and also enjoy superior financial results. Costs associated with advertising and other promotional programs can be reduced with a highly engaged workforce.
For all these reasons, the Employee Engagement Surveys are extremely important. Once a firm is able to establish the level of engagement of its employees, it is only then that they can develop a strategy to increase and maintain high levels of employee engagement over a long period of time. There are several reputable agencies that can help companies conduct employee engagement surveys.
Employee engagement surveys can have far reaching effects. Acting on employee results companies can take steps that will motivate employees raise levels of commitment, reduce absenteeism, reduce costs of health care and boost overall organizational performance.