Beyond the Office Party: How to Increase Employee Connectedness (and Profits)
Do either of these images look familiar?
Chances are if you work in an office environment you have witnessed one or both of these scenarios – the holiday party that got a little out of control or the boring birthday “bash” consisting of cardboard cake in a conference room. While the planners had the best intention of getting co-workers to bond, most of the time, these events are a bust.
IMO, one of the best ways to increase employee satisfaction and connectedness is through social! Social tools have made it easier for people to communicate with others that are important to them in their personal lives and better maintain friendships. I found this also to be true in the world of social business.
In an independent survey of Jive Software customers, respondents reported an increase in employee connectedness by 39%. The survey respondents also reported that social business tools increased employee satisfaction by 30%. All of this adds up to higher level of employee engagement. This is a critical metric that translates into real, hard-dollar ROI.
At consumer electronics retailer Best Buy, a .1% increase in employee engagement survey ratings at a store translates into a $100,000 bump in annual revenues at that location, according to research published in the Harvard Business Review.
A 2007 study by polling and research company Gallup Organization found that publicly traded companies rated in the top 25% in employee engagement metrics posted earnings per share (EPS) growth nearly 9% higher than EPS growth of comparable companies rated in the lower half of the study. According to other research from Gallup, more satisfied employees equates to higher levels of all manner of related KPIs including: customer loyalty (+56%), productivity (+50%) and employee retention (+50%).
In summary, higher engagement = higher profits.
Plus, it keeps remote workers like me from feeling too isolated. Just check out the extreme I went to with my “office mate.”
(Yes, this really is MY dog Bailey in a tie).