Employee Engagement Matters
More and more studies are showing increased employee engagement programs across the Enterprise resulting in higher operating income and earnings per share. Crowdsourced idea generation tools like IdeaScale are growing in popularity as the most viable technique to increase both customer and employee engagement. In this two-parter, we’re going to look at 1) why crowdsourcing is so important and 2) five steps you can follow for a successful employee engagement project.
Running the Numbers
In a 2003 Towers Perrin/ISR survey, the finances of 50 international companies were analyzed over a 12-month period. After surveying 664,000 employees, it was found that three financial indicators (operating income, net income and earnings per share) consistently increased for organizations with high levels of employee engagement, and decreased for those with low levels.
A 2006 Gallup survey polling 4.5 million employees from more than 300 different companies showed a similar trend: the earnings per share growth rate of organizations with the highest levels of employee engagement was 2.6 times higher that of organizations with lower levels.
The key is that organizations treat employees as their most valued resource. This involves investing sufficient resources in areas such as professional development and workplace wellness. But even more importantly, employees need the opportunity to provide meaningful feedback. And when these ideas are received, they need to be responded to and managed effectively.
Using Crowdsourcing to Increase Engagement
In recent years, crowdsourcing has made it easier to involve employees and manage the data that is gathered so that organizations get the answers they are looking for. The “crowd” in this case is the employees themselves, who are given the opportunity to both share their own ideas or vote on other ideas. In the context of employee engagement, crowdsourcing can be an effective method for gathering suggestions on how to improve internal operations.
Build Your Own Feedback Platform
Anyone can build an employee feedback community using simple to use, turn-key platforms like IdeaScale, which allow organizations to enable employee engagement by collecting ideas and giving them a platform to vote. As employees vote, the most important ideas bubble to the top. Before getting started with IdeaScale or any crowdsourcing platform, it’s important to realize that with these simple tools comes great power and responsibility. In our next post, we’ll look closely at 5 crucial steps for running an effective crowdsourced idea community.
UPDATE: Read Part 2 here.
- Create a private IdeaScale community: http://support.ideascale.com/faqs/ideascale-moderation/private-community
- IdeaScale – private identities: http://support.ideascale.com/faqs/communities/hiding-your-identityanonymous-posts
- Ascentum: www.ascentum.com
Ascentum is a Professional Services and Technology firm that specializes in public participation and social media services. Ascentum has been involved in numerous citizen and employee engagement initiatives in the public, business and not-for-profit sectors. Visit http://www.ascentum.com for more information.