Employee Engagement 2020: Strategizing, Planning and Implementing a Robust Engagement Program
- 1. The Link Between Listening & Doing Hosted By
- 2. GETHYPHEN.COM 2 Introductions Meet your Speakers t Ranjit Jose is a Co-founder of Hyphen and spends the majority of his time partnering with organizations across the world on their Employee Engagement strategies. Passionate about innovating in all ways how organizations can shrink the space between leaders and employees, he is a firm believer that the future belongs to leaders who can create trust within an organisation. Ranjit Jose Co-founder - Hyphen t Philip Vincent Head of HR – Third Bridge A commercially focused, proactive HR leader with a great experience working within the telecoms, e-commerce, start-ups, research, financial services and tech sectors, Philip heads the HR function at Third bridge, a company that provides private equity firms, hedge funds and strategy consultants with the information that they need to understand the value of their investment opportunities.
- 3. Today’s Agenda What we’re talking about today GETHYPHEN.COM 3 ❏ The importance of Employee Engagement – How to think of ROI ❏ Key Employee Engagement trends in 2020 and what these mean for HR Leaders ❏ The 5 step process in creating your Employee Engagement strategy ❏ Summing it up – connecting it all together
- 4. Employee Engagement and its Tangible ROI A Happier Workforce leads to Greater Impact Productivity Engaged employees communicate and collaborate more effectively with colleagues and managers. They are also more motivated to achieve their goals. Retention Engaged employees feel more connected to their peers, their leadership, and company values. Replacing one employee costs 30-100% of their annual salary. Profitability Engaged employees are willing to give their best at work and give discretionary effort. They are more innovative and drive higher customer satisfaction. GETHYPHEN.COM 4 +20% +24% +21% Harvard Business Review - How Four Talent Practices Add Up to Big Revenue Gains
- 5. Productivity GETHYPHEN.COM 5 Time t Get feedback anytime & Discover blind spots Act on opportunities & Track initiatives Fix high performer attrition Development & Retention tUnderstand attrition Limit spillage on Glassdoor Exit tImprove process Understand offer declines Recruiting t Accelerate ramp-up Improve recruitment profiling Help struggling individuals Onboarding Maximizing Employee Lifetime Value A Happier Workforce leads to Greater Impact
- 6. 2020 Employee Engagement Trends ❏ People First Culture ❏ Flexibility & Work-Life Balance ❏ Diversity & Inclusion ❏ Employees As Brand Ambassadors ❏ Data, People Analytics & AI GETHYPHEN.COM 6 What will drive Employees and HR Leaders
- 7. ❏ People First Culture § All the more important to check in often ❏ Flexibility & Work-Life Balance § Operate within employees’ flow of work ❏ Diversity & Inclusion § Ensure broad based feedback ❏ Employees As Brand Ambassadors § Engaging employees all the more important ❏ Data, People Analytics & AI § Flying blind is no longer an option What these trends mean for HR Leaders GETHYPHEN.COM 7 Keeping up with the expectations
- 8. Your 2020 Employee Engagement Strategy 5 Step Framework GETHYPHEN.COM 8
- 9. What is your biggest challenge in making employee engagement effective? Poll Question ❏ Collecting engagement data ❏ Meaningfully interpreting engagement data ❏ Formulating clear actions from engagement data ❏ All of the above ❏ None of these GETHYPHEN.COM 9
- 10. What to Measure – Key Drivers and Key Questions How Often – Frequency of Feedback Collection Your 2020 Employee Engagement Strategy 5 Step Framework How To Align your Organization How To Collect, Read and Organize Data How To Convert Data into Actionable Outcomes GETHYPHEN.COM 10 1 2 34 5
- 11. WHAT TO MEASURE – KEY DRIVERS & QUESTIONS GETHYPHEN.COM 11
- 12. What to Measure PLANNING AND PREPARATION q Do you and Leadership have specific Goals? q What do you hope to accomplish with the feedback? q What are the other departments that will need to be aligned? q What granularity of employee data do you need? q Will you use an automated Employee engagement solution or use a more low-tech higher manual approach? GETHYPHEN.COM 12
- 13. What to Measure DESIGNING THE SURVEY - 13 KEY DRIVERS GETHYPHEN.COM 13 Engagement Company Performance Leadership Management Collaboration & Teamwork Communication Workload Purpose Meaningful Work Environment Feedback and Recognition Growth Benefits
- 14. What to Measure GETHYPHEN.COM 14 ASKING THE RIGHT QUESTIONS GOOD QUESTIONS q My company’s financial situation is stable. BETTER QUESTIONS q I would recommend my company as a great place to work. q I like working at my company. q My company is dedicated to diversity and inclusion. q I believe that my company is in a position to succeed. q People from all backgrounds are treated fairly at my company.
- 15. HOW OFTEN – FREQUENCY OF FEEDBACK COLLECTION GETHYPHEN.COM 15
- 16. How often do you currently solicit feedback from your employees? Poll Question GETHYPHEN.COM 16 ❏ Once a year or less ❏ Every 6 months ❏ Quarterly or Monthly ❏ Occasionally/Sporadically
- 17. How Often WHAT IS THE RIGHT FREQUENCY? q Dependent on the organizational readiness q Factor in how quickly your business is changing q Important to capture trends within a year q Ability to action on critical issues GETHYPHEN.COM 17
- 18. How Often FEEDBACK– BEST APPROACH Quarterly or even semi-annual engagement survey coupled with polls to measure progress q Identifying Trends q Taking Consistent Action q Additional Feedback Channels q A Wider Range of Feedback An Engagement strategy should be able to help you in GETHYPHEN.COM 18
- 19. HOW TO ALIGN YOUR ORGANIZATION GETHYPHEN.COM 19
- 20. Aligning your Organization ALIGNING YOUR ORGANIZATION q Align organizational goals to your engagement strategy q Align all concerned stakeholders – leadership and managers with necessary training sessions, coaching and onboarding in case of using a feedback tool q Create trust and transparency amongst employees using open conversations q Assure anonymity and explain the process and strategy of analysing data despite the anonymity factor 70% of employees say they are most engaged when management consistently updates them on strategy.” Source : HBR GETHYPHEN.COM 20 “
- 21. GETHYPHEN.COM 21 HOW TO COLLECT & ANALYZE THE DATA
- 22. Analyzing Data DATA VISUALISATION - MESSY GETHYPHEN.COM 22
- 23. DATA VISUALISATION - NEAT GETHYPHEN.COM 23 Analyzing Data
- 24. Analyzing Data q Establish a small group of managers to create the most informative employee segments to gauge in order to narrow and identify the last mile impacts q Establish a checklist for reviewing the results to help create the structure to analyse data q Use Analytics, NLP and Machine Learning to identify emotions and other subtleties that wont show in the quantitative data q Turn qualitative data into quantitative data by transforming open ended responses into sentiment data DATA ANALYSIS GETHYPHEN.COM 24
- 25. GETHYPHEN.COM 25 HOW TO CONVERT DATA INTO ACTIONABLE OUTCOMES
- 26. How effectively does your organization channel feedback into strategy? Poll Question GETHYPHEN.COM 26 ❏ Very Effectively ❏ Somewhat Effectively ❏ Not at all Effectively
- 27. Unstructured Feedback + Action = Wrong Actions Taken Structured Feedback + Action = Trust. Structured Feedback + No Action = Employees Lose Faith (OR) GENERATING TRUST : THE RIGHT EQUATION GETHYPHEN.COM 27 Action Planning
- 28. q Choose the low-hanging fruits (2-3 areas) to concentrate on first q Use follow-up pulse surveys and polls to drill down further into those two or three items to uncover the issues driving them q For each plan, designate a lead person who will be responsible for checking progress against a timeline and milestones q Document each action plan in writing. Be as specific as possible, using actual dates on the timeline rather than general time frames q Communicate Plan of Action to the entire organization CREATING AN ACTION PLAN GETHYPHEN.COM 28 Action Planning
- 29. WHAT ACTIONABLE FEEDBACK LOOKS LIKE GETHYPHEN.COM 29 Action Planning
- 30. Key Takeaways In Conclusion GETHYPHEN.COM 30 ❏ The engagement gap is expensive for businesses ❏ Your employee engagement strategy is critical and must always be linked to overall organizational goals ❏ Establish continuous employee listening and feedback mechanisms to ensure employees feel heard ❏ Democratize your data to empower managers ❏ Feedback without action is meaningless ❏ Employee engagement is an ongoing process – Create, Communicate, Actualize and Repeat
- 31. What We Do About Hyphen GETHYPHEN.COM 31
- 32. Complimentary Content Offer GETHYPHEN.COM 32 UPCOMING CONTENT OFFER THE 2020 EMPLOYEE ENGAGEMENT PLANNING GUIDE
- 33. Thank You! Ranjit Jose: [email protected] Reach out to Us: Q&A Philip Vincent : [email protected]