Three Reasons Engagement Matters — For Your Bottom Line and an Empowered Workforce
Monday October 5th, 2015
Estimated time to read: 2 minutes, 30 seconds
“Our most important asset is our people.”
How often have you heard that phrase before? Yet, when it comes to living up to that promise, companies still aren’t doing enough. In fact, engagement survey provider Quantum Workforce found that overall employee engagement is at its lowest levels in eight years! Confirming this, a 2014 study by Towers Watson showed that just 4 in 10 employees are highly engaged.
So what? Well, here’s an eye-opening statistic for you: According to the Workplace Research Foundation, highly engaged employees are 38 percent more likely to have above average productivity. That means there’s a big opportunity for companies that do take care of and engage their employees.
The engagement status has to change, and the reasons are too big for organizations to ignore. Here are three reasons every business leader needs to have engagement on their agenda now:
- Increasing engagement means better business. Engaged employees lead to higher service levels, customer satisfaction, profit and shareholder return on investment — by up to 202 percent according to Dale Carnegie. It can even affect absenteeism. Companies that are highly engaged have 60 percent fewer instances of unplanned absenteeism.
- Engaged employees stay and do better in their jobs. According to Gallup, organizations that engage and communicate effectively with their workforce have 15 percent lower turnover than those who don’t. When employees feel unengaged, they can’t give their best. In a 2015 survey of millennials by Bersin by Deloitte, just 28 percent of them felt their organization was making full use of their skill set.
- Engagement is the key to an empowered workforce. Employees who say they feel valued by their employer are 60 percent more likely to report that they are willing to do their very best for their organization. When employees are engaged, they feel more confident in decision making and are more likely to take the initiative to succeed in their role.
Striving for higher employee engagement is not just about taking care of your employees because it’s the right thing to do. It’s also good for your business.
We believe that behind every great company is a great group of people who help make it all work. Those people need technology to help them get it all done, too.
iSolved helps promote employee engagement and autonomy by providing powerful tools for “employee self-service.” Self-service allows the employees to manage their own information, make informed decisions and communicate more easily with HR when necessary.
Managers can set the amount of access employees are given, and there are no third-party products to integrate or add on to the unified solution. iSolved lets employees directly:
- Access important documents concerning company policies.
- Enter and manage personal information for direct deposit, dependents and W-4 forms.
- Review and print check stubs and W-2s.
- Enroll in benefits at any time during periods set by company policy.
- Communicate better with colleagues and managers.
The iSolved Mobile app provides even greater flexibility, letting employees take the power of iSolved Human Capital Management with them almost anywhere. Employees have more access to the information they need, when they need it, without having to constantly consult with HR about every little detail. iSolved Mobile includes the following functions:
- Stored logins are saved securely in the app, preventing the need to enter user name and password every time.
- Mobile punch lets employees quickly punch in and out for work, meals and breaks.
- Department and job lets employees drill down three levels in the department and job hierarchy with the Mobile app. Employers can more efficiently allocate labor to various departments.
- View pay stubs provides a detailed look at earnings, deductions and taxes on a single screen.
- Request time off with a phone, using a built-in calendar and time balance feature.
- PTO balances display current, pending and year-to-date amounts with a detailed breakdown.
Additional features in iSolved Mobile allow:
- Updating address and phone.
- Changing federal and state tax withholdings.
- Supervisors create punches for groups.
- Employees easily view their schedules from the app.
- Users log in and create punches offline.
- Centralized control over the application.
- Employees punch in with their badge number, using a supervisor’s phone.
- GPS coordinates of the phone to be captured and attached to the punch where available.
Go to iSolvedHCM.com to learn more about how you can enable, engage and reward your workforce today.
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