Organizations struggle to quantify the impact engaged employees have on business results. Intuitively, it’s a no-brainer—engaged employees cost less and produce more. It’s that simple.
Many studies and reports support this hunch: Engaged companies have stronger levels of profitability and retain their employees.
So, why do most organizations have difficulty quantifying this? It’s primarily because of the process. Here is how we (unfortunately) see an employee engagement survey process play out in many organizations:
An organization conducts an employee engagement survey. The corporate communications or HR team presents the results to the executive team. The executive team asks, “How does this tie to our business results?” (Say this in your best CFO voice.) The communications/HR team scrambles to find data and metrics to make comparisons. The team realizes the process was not designed to make effective comparisons. The team can’t share any comparisons.
This is certainly not the best return on your survey investment.
There are many reasons why comparing employee engagement survey data to business metrics is difficult. Here are four ways to overcome these difficulties to show valid comparisons:
Digital media is growing.
That may be the overarching theme of Pew’s latest State of the News Media report. It also revealed that most Americans now get their news through a digital platform, with 82 percent using their desktop or laptop and 54 percent saying they get news from their mobile device.
Daily newspapers shouldn’t be discounted quite yet. Subscriptions make up 70 percent of audience-driven revenue for media outlets, totaling $10.4 billion last year.
Inkhouse and GMI conducted a similar study recently, and found that 73 percent of news consumers turn to TV for their news, followed by news websites (52 percent), print sources (36 percent) and radio (25 percent), which barely beat out social media (23 percent).
When it comes to sharing news, email and social media are tops, with email representing 34 percent of news media shares and social right behind at 29 percent.
Click to continue reading and see infographic
National Public Radio recently ran a piece with an attention-grabbing headline: “Physicists, Generals And CEOs Agree: Ditch The PowerPoint.”
Like similar stories before it, the argument went as follows: PowerPoint prevents two-way engagement, PowerPoint makes the speaker go on autopilot, PowerPoint prevents people from reducing their points to their essential core.
As one Rutgers University professor said, “The main advantage of forgoing PowerPoint is that it forces both the speaker and the listener to pay attention.”
The story—and the people quoted in it—are blaming the wrong problem. PowerPoint isn’t the problem. It’s a tool that’s only as good—or as bad—as its users. The problem is the misuse of PowerPoint by far too many speakers.
Don’t buy into articles that suggest PowerPoint is all good or all bad. It’s true that the pendulum swung too far in the direction of ubiquitous and poorly planned PowerPoint presentations, and it’s good that it’s swinging back in the opposite direction. But these articles are suggesting a pendulum swing to an opposite—but still problematic—extreme.
Move over, Baby Boomers. A new generation of consumers is shaking up the marketplace. The new market segment, millennials, represents Americans ages 18-33. Millennials have some distinctive characteristics that are unlike any other age bracket.
A Boston Consulting Group study focused on how Millennials are changing consumer marketing. As marketers, it’s key to understand their values, motivations, communication styles and preferences.
Pew Research Center just released a report that examines millennials. Here’s an overview from the research that highlights the unique characteristics of this up-and-coming generation, and how businesses can meet their needs: