In today's world, the need to attract and retain top talent is critical to a company's success. CEOs must have insight into the engagement levels of each of their employees and realize the impact highly engaged employees have on not only the organization, but on the balance sheet.
Engagement, growth, and performance starts with leadership and makes its way into each part of the organization. And, as CEOs work to continue to measure a company's operational profitability over time, they need to consider that while both strategic and financial perspectives play into the operation, talent also needs to be a key driver when evaluating organizational health. By being aware of the challenges in talent management, CEOs can play an intricate role in identifying how to tackle them and how it directly ties into the elements that feed EBITDA.
CEOs need to be able to champion a system that promotes employee communication and contribution to the organization where employees feel they have:
Too often, organization’s try to solve this problem with yearly performance reviews. However, this antiquated approach is only doing a disservice to the organization and employees. It is imperative that company and colleagues have real-time goal alignment that extends beyond yearly performance management to effectively align employees and the organization on daily work and business goals that matter.
More than ever, modern-day organizations see the benefit of setting aside time and budget for employee engagement platforms that provide both the employee and leaders more abundant opportunities to communicate and align strategic goals with the individual employee's goals.
An end-user designed and driven employee engagement platform allows employees to create and champion individual goals that cascade from the frontline right up to the CEO. This provides management with direct visibility into how engagement and individual contributions impact business outcomes. At the same time, employees have ownership and understanding into how their role has a direct impact on the organization.
Making upfront investments in more robust employee engagement platforms that provides your workforce fractional ownership of company goals that matter and share into the overall outcome of business objectives will lead to:
● Real-time alignment
● Increased productivity
● Lower turnover
● Increased profitability
● Increased employee loyalty
By placing emphasis on the employee experience and investing in people – the organization’s most valuable asset – CEOs are well-positioned in this competitive landscape to solve talent challenges that lead to increased productivity and profitability.
Want to determine learn more about end-user designed employee engagement? Want to measure your organization's hidden cost of attrition? Access TeamOnUP's attrition calculator to see what low engagement is costing your organization.
TeamOnUP is a data-driven, peer-to-peer coaching platform that unlocks hidden value inside companies by creating a new work-life experience for all employees.