Employee engagement, often referred to as employee journey, employee experience, workplace engagement etc, refers to the degree to which employees are invested in the company. Employees that are financially, emotionally, and mentally engaged with their employers contribute to positive business outcomes. Marsh reports show that enhancing employee engagement and experience is a top priority, according to 93% of HR professionals in India.
Traditionally, performance management refers to the ongoing evaluation process of employees where the manager monitors and reviews work performance based on previously established goals.
While employee engagement and performance management have traditionally been measured and tracked separately, there is a growing trend within organisations to link the two as the importance of employee engagement on business and individual performance becomes more apparent.
Organizations are moving away from the time-consuming annual rating and review cycle and towards more frequent performance check-ins and conversations between employees and managers. These more frequent interactions allow for real-time feedback, employee adjustments, and a chance for employees to establish and build a trusting relationship with their manager.
Optimise Performance Management Cycle
An efficient performance management strategy that is optimized to improve the systematic process will enable the employer and the employees to work together to achieve organizational goals. Usually, the performance management cycle has the following four stages:
- Planning – Managers discuss with employees about their current performance. At this stage, the supervisor must set clear and defined goals. Employees need to know measurable and achievable goals to focus on improving their performance to achieve the goal metrics.
- Monitoring – Once goals and objectives are set, the employees get to work. Managers should track their team's performance and ensure that the team stays on the right path to achieve the goals.
- Reviewing – Performance reviews are done using feedback, self-assessment and interview. Managers evaluate and communicate employee performance during the feedback sessions. Employees assess their own performance during self-assessment. Interviews help managers and employees come together to talk about their experiences during this journey.
- Rewarding – After performance evaluation and review, managers recognise employee achievements and reward high-performers. These rewards increase employee engagement as motivated employees want to contribute more to their roles.
Secure Talent Pipeline With Engaging Performance Management
The struggle to attract and retain the right talent has forced organisations to reconsider their approach to employee engagement. Companies are recognising the importance of tailoring their approach when it comes to providing training, career path opportunities, and workplace flexibility.
For far too long, employees have been content with jobs that do not adequately compensate them or provide them with a work-life balance. Now that they have the ability to choose where they work and to leave if the company does not value them, it is up to businesses to create a culture and workplace in which every top candidate wishes to work.
According to the Talent Trends 2022 report, 55% of Indian employers know that recognition, appreciation, and gratitude contribute to employee retention. So how are organizations rethinking employee engagement?
- Offering learning opportunities to bridge skill gaps.
- Providing employee rewards that promote work-life balance. Gift cards, redeemable reward points, gifts, company-sponsored lunches etc., will show the employees that their work is recognised.
- Showcasing recognition publicly to show appreciation. Companies can use their social media, notice board at the office etc, to recognise employee efforts and appreciate them publicly.
- Offering holistic employee perks and benefits packages that focus on an employee’s financial, mental and physical wellbeing.
Innovative Ideas To Boost Employee Engagement
It's difficult to imagine a successful business today without a happy and strong team. As a result, observing how engaged employees are is a clear indicator of a fantastic workplace. So, how can you create the ideal work environment, whether remote or in the office, by engaging your employees? Following are some innovative employee engagement strategies that will work across industries:
- Build rapport through communication – Communication is the key to effective employee engagement. There must be an open communication channel between managers and employees to discuss goals, feedback, and performance. Managers must take the lead in clearly communicating goals and objectives. The company must encourage effective team communication. Continuous assessment and feedback will lead the team on a constructive path.
- Career growth – Employees need a clear career growth path to thrive in their role. They should know how much their work is valued so that they can be motivated to acquire new skills to get ahead in their career. Employees crave professional development to adapt to the rapidly evolving market.
- Foster appreciation with recognition and rewards – Employee engagement can be improved greatly with timely recognition and rewards. According to a Glassdoor survey, 53% of employees want to stay in their current jobs if their bosses show appreciation. A simple way is to acknowledge and recognise team contribution during team meetings. Morale-building employee engagement activities can be arranged to celebrate success. Expressing gratitude for employees through personalised notes and messages will make them happy.
- Reinforce trust with every interaction – Employee engagement will increase if the employees feel that their managers trust them. They can share their ideas and opinions without feeling stressed. Employees who know their leadership trusts them will go above and beyond to reach their goals.
Achieve Greater Heights With Performance Management And Employee Engagement
Organisations can boost employee engagement with a healthy work culture and a positive performance management process. Employee skill gaps and employee retention are the key challenges that companies have to face in the current scenario. To make smart talent decisions, companies must work on creating an optimal performance management cycle to recognise, reward, and retain their top talents. It is imperative to appreciate the efforts of every employee and not just the high performers. This will encourage all employees to reach their full potential for the organisation's long-term success.
Organisations that have actively engaged employees perform 200% better than their competitors. Understanding the link between performance management and employee engagement will help organisations optimise both factors. Rewards and appreciation should motivate high performers to continue to deliver excellence. Efforts from other employees must also be recognised so that they can work on building their skills to become high performers. Nurturing a collaborative and supportive work culture will boost employee engagement, which can lead the business to success.
Overcome employee engagement roadblocks with Batik
One-size fits all approach is long gone. It all boils down to what companies have to offer and how they treat their employees. The benefits offered have become a significant differentiator in employee engagement.
With Batik's employee benefits& perks platform, businesses can opt for employee benefits programmes that can help them engage their employees the right way by providing benefits that employees actually use and care about. Employees can have access to a holistic benefits package that takes care of their every need.