It is often observed that an organization that pays high remunerations and other benefits to employees is still unable to retain them and constantly losing its team members to a competitor. There is no apparent reason that can explain this phenomenon. Though employee turnover is imperative in any organization, a company that pursues employee engagement should not be losing its staff members at a rate higher than expected. Most organizations are aware of the fact that monetary benefits and other perquisites are very important for its employees. However, only a few understand that in order to retain a qualified and skilled staff member, only monetary compensation may not be enough. This brings us to the topic of employee engagement.
How does one define employee engagement?
The term employee engagement is simply defined as the extent to which an employee is committed to the vales of his / her organization. This may, however, be noted that employee engagement is a two-way process that involves both the employee and the employer
Importance of Employee Engagement
The overall performance and profitability of any organization are closely linked to the way it manages its employees. A content and properly engaged employee will stay with the organization, hold its products in high regard, and contribute towards the success of the company. Such an employee will be more motivated.
Employee recognition as an Engagement Factor
Although Employee Recognition programs are created and implemented in order to reward & recognition high performers, several of these programs also hope to strive towards better engagement and motivation of all staff members. Communication is the most important aspect of recognizing performance and bestowing rewards.
It is imperative that every employee knows what is expected of him / her. They must also know the value of their input in the overall performance of the company.
In most companies only the efforts of the sales team are recognized and rewarded since sales can be tracked very easily. An effective employee engagement program must also recognize the efforts of the support staff and be inclusive of all positions. This can only be achieved if roles of every individual are clearly defined.
It is not necessary that every reward is bestowed in monetary form. A deserving employee can earn a day-off. They could be awarded gift hampers, car leases or concert tickets. A company has endless options for rewarding good performers. A simple letter of recognition can also boost the morale of the employees.