Employee engagement metrics is the level of emotional commitment employees feel towards a company, its vision, goals, and other employees. It’s mostly a problem with human resources, but it can also be a business issue. Engagement has nothing to do w/ satisfaction and salaries. Leadership and policies that foster relationships and provide the foundation for long-term motivation are more important.
It’s important to first understand the reasons for it and how it has changed. Next, you should start to look at the metrics that can help you measure employee engagement. This is more than just having happy employees and good working relationships with their managers. Engagement is directly linked to profitability, productivity and turnover as well as a company’s ability to weather tough times.
How COVID has shifted employee engagement metrics
This past year was a wild ride that has provided invaluable lessons for businesses around the world. Employee engagement metrics is an important aspect of business. It’s now more important than ever. Employee needs are changing as businesses across the globe reopen and adjust to the seismic shifts which have rocked many companies.
Leaders have the opportunity to redesign and rethink the employee experience. The foundation for that future is built on the solid foundation of engagement metrics. Supporting engagement requires creating experiences for employees that respect individual needs and differences, while being able to adapt quickly to changing circumstances.
The disruption of COVID in March 2020 caused Americans’ overall well-being to plummet, but engagement remained constant. Signature Workspace’s research found that COVID was a time when employees felt they received more meaningful feedback from their managers. The highest levels of engagement were reported by those who work from home and those who work in the office part-time. The highest levels of burnout were reported by those who work remotely full-time.
Leadership has become more complex and vital despite difficult circumstances. Employee engagement actually increased as managers and business owners tried to keep in touch with their employees. Signature Workspace data showed that employee engagement increased from 36% to 39% in January 2018 to 39% in January 2022.
What Metrics are Important in 2022 and Beyond
Everything has been turned upside down in the past year. Both employers and employees have been under immense stress and pressure. These factors will continue to increase as businesses reopen and offices reopen. You can better position your company to attract and retain talent, and keep your competitive edge by measuring engagement. There are many metrics that you can use, but these could be the most important.
Employee Net Promoter Score
Based on the Net Promoter Score, which was created to evaluate customer loyalty
You can get a good idea of engagement levels by using the Employee Net Promoter Score (eNPS). It is a simple question that employees answer anonymously. The scale ranges from one to 10. What is the question? What would you recommend to someone who is interested in a job at this company? The answer reveals that employees can be divided into three categories:
- The detractor (answers 1-6): These employees have the lowest engagement levels. Leaders need to communicate with employees and find out their concerns. Employers can increase employee engagement by listening to their concerns and addressing them.
- Passive/neutral (answers 8 and 9): These employees won’t be raving about the company, but they won’t say anything negative. Leaders must work with them to make them promoters.
- Promoters (answers 7-9): This indicates high engagement but leaders shouldn’t ignore them. These employees will be more positive and engaged if they are given support and asked for suggestions.
Voluntary turnover rates
Engagement is a better indicator of a person’s willingness to stay. Low engagement is indicated by a high rate of employees leaving. Each employee leaving costs businesses in lost productivity, knowledge and skills, as well as the cost of training and hiring new employees. This can also impact morale of those who remain.
This is an easy metric to calculate. Divide the total number of employees who left the company during the year by their average annual employee count. For the voluntary turnover rate, multiply that number by 100.
Resilience of Employees
After COVID-19, the business world was turned upside down. Many workers had to make do with their home offices to be able to take on full-time work, while also managing spouses and children. Simply put, resilience is how employees adapt, adapt, and move on from difficult situations and challenges.
Employees’ resilience is a key factor in their emotional well-being and happiness. This can have a significant impact on engagement. This can provide valuable information that can help you offer new resources such as stress management workshops or mental health support.
There are many ways to measure resilience. One option is the Resilience Scale For Adults. This self-reporting scale measures five key elements that contribute to resilience: personal and social competence; social support; family coherence; personal structure. The Scale of Protective Factors is another measurement tool that measures individual resilience. It uses 24 items to measure social, interpersonal and cognitive factors as well as individual factors.
Without healthy employees, it’s impossible for a business to be healthy and thriving. This metric is also intrinsically tied to engagement. Employees who are well-being is linked to excellent performance in their job and the organization. They are also more likely to adapt to change and to be resilient, as well as to fully recover from injuries, illnesses, or hardships. They are also less likely to apply for jobs at a different company within the next year.
Employee well-being is now more important than ever. It should be a top priority for employers. Asking employees to give honest and open feedback is the best way to measure this. You can do it as easily as a weekly check in. You could also measure it with advanced technologies like sentiment analysis. This technology allows you to collect data from any communication made to or received by employees, both at work and on social media. Wearable tech can be used to track wellness metrics and provide data that will help you determine basic wellness.
How to improve employee engagement metrics
Employee engagement metrics can be boosted by providing support, positive work environments, and building trust between leaders and employees. Employees will feel included and informed about the company’s progress through open, transparent conversations. Regular check-ins with their leaders are a great way to foster trust between them and their leadership.
Some people need the office to be able to take a break from working remotely and work on focused projects or collaborate with others. This feedback can be combined with the support of employees and a supportive culture to improve engagement.
Contact Signature Workspace
Signature Workspace, owned and operated by Cantor Fund Management, offers services and amenities such as private/ traditional/ studio offices, virtual offices, meeting/conference rooms, and more. Locations ranging from offices in Tampa on Dale Mabry and Northdale and one office in Clearwater offer great physical office space amenities. Contact Signature Workspace for more information today and check out our 5-star reviews!