Employee Engagement. Listen Coach Take Action. Presented by: Andrew Park and Sandra Tamburino

Transcription

1 Employee Engagement Listen Coach Take Action Presented by: Andrew Park and Sandra Tamburino Employee Engagement August 21, InMoment, Inc. 1

2 Employee Engagement Employee Engagement: Listen Coach Take Action. Understand how developing talent requires laser focus on the right behaviors. Come see how best-in-class brands are leveraging engagement insights, pulse surveys and prescriptive analytics along with powerful Coaching and Action Platforms to drive engagement and help management focus on the behaviors that can transform your employee and customer experiences. 51 % Overall Engagement Index InMoment Benchmark 2014 Employee Engagement August 21, InMoment, Inc. 2

3 Agenda Why Employee Engagement Listen Coach Act Impact Employee Engagement August 21, InMoment, Inc. 3

4 Does employee engagement matter? It should! The big truths are... Engaged employees are more productive, customer-focused, and profit-generating. Employee Engagement August 21, InMoment, Inc. 4

5 Does employee engagement matter? It should! The big truths are... Full value of employees is underutilized. Employee Engagement August 21, InMoment, Inc. 5

6 Does employee engagement matter? It should! The big truths are... Disengagement is everywhere not just concentrated in one area or manager. Employee Engagement August 21, InMoment, Inc. 6

7 Does employee engagement matter? It should! The big truths are... Within the U.S. workforce estimates, this cost to the bottom line to be more than $300 billion in lost productivity alone. Employee Engagement August 21, InMoment, Inc. 7

8 Internal Service Quality Profit & Growth CUSTOMER Loyalty Satisfaction Expertise/ Capability EMPLOYEE Value Satisfaction Loyalty Productivity External Service Value Employee Engagement August 21, InMoment, Inc. 8

9 What is Employee Engagement? The relationship between an organization and its employees such that: 1. Employees understand and are committed to achieve the organizations objectives 2. The organization respects the personal aspirations and ambitions of its employees Employee Engagement August 21, InMoment, Inc. 9

10 The Engagement Journey LISTEN ACT LISTEN Allow employees to provide feedback throughout their career and in all environments. COACH Deliver critical and in the moment information to all levels of the org. COACH ACT The good employees care about their Brand. Make sure to take action on suggestions. It will go a long way in building loyalty. Employee Engagement August 21, InMoment, Inc. 11

11 LISTEN Employee Engagement August 21, InMoment, Inc. 12

12 Engagement Nexus Organizational Pride Employee Commitment Job Satisfaction Likelihood to recommend company Proud to say I work for [BRAND ] Likelihood to remain Willing to expend effort to get job done Support and serve communities Satisfied with my job Work atmosphere energizes me These are the key outcomes of employee engagement Employee Engagement August 21, InMoment, Inc. 13

13 Is this partnership easy to understand? No think of all the different relationships My Job My Boss The Company My Career The Brand Employee Engagement August 21, InMoment, Inc. 14

14 Engagement is multi-faceted Organizational Health Program Effectiveness Work-Life Balance Compensations & Benefits Vision Alignment Basic Needs Effectiveness of Shared Services Teamwork Work Climate Growth Opportunities Market Perception of the Brand Training & Development Culture Employee Morale Pride Commitment Job Satisfaction Profitability & Growth Rewards & Recognition Management Relations Customer- Focus Retention Employee Engagement Employee Engagement August 21, InMoment, Inc. 16

15 Engagement has many touch points Post-Training Pulse Surveys Onboarding Feedback Engagement Studies Exit Interviews Employee Suggestion Employee Engagement August 21, InMoment, Inc. 17

16 Listen everywhere. Best Practice Phone Website Leverage open-ended comments to understand employee suggestions and concerns in their own words. Audio and Digital Use technology to improve the quality of your openended comments Smart Meter Mobile Text Social Media InMoment Experience Hub Mine data using Text Analytics - Discover QR Code Other Data Employee Engagement August 21, InMoment, Inc. 18

17 COACH Employee Engagement August 21, InMoment, Inc. 19

18 Listen, Integrate and Share Phone Website CEO CMO CXO Mobile Text InMoment Experience Hub VP CX Touch point VPs Human Resources CC Directors Field Managers Social Media QR Code Other Data Field Supervisors Location Mangers CC Agents Employee Engagement August 21, InMoment, Inc. 20

19 Data at your fingertips Engagement Most Dissatisfiers Employee Engagement August 21, InMoment, Inc. 21

20 Learn from Best Focus on Risk Employee Engagement August 21, InMoment, Inc. 22

21 Show how they compare Employee Engagement August 21, InMoment, Inc. 23

22 Location focus on the right behaviors Coach - Engagement Employee Engagement August 21, InMoment, Inc. 24

23 Recognize your All-Stars inmoment.com :37am 2014 Employee Engagement August 21, InMoment, Inc. 25

24 Software Updates Finance Journey: Finance system update, improve, invest, implement, work, set, replace 26 Able to Work More Efficiently Bottom 3 Box Job Category Finance Shared Services/Claim Management Employee Engagement August 21, InMoment, Inc. 26

25 Who is at Highest Risk of Leaving? Most Risky Marketing Risk of Leaving Index 42% Unsatisfied; Unsecure; Pessimistic 39% Who? IT Customer Service 33% 30% What could motivate them? Monetary Incentives 1. Bonus do not motivate them strongly. Salary most important followed by vacation 2. Want 60% of bonus be based on employee performance against SIs/KPIs 3. The majority prefer $300/person recognition payment Functional Incentives 1. Training and career advancement: Half disagree promotion process fair and do not get required training but do find their current work challenging and 2. Focus on half glass full theory: They are hopeful that there are adequate opportunities for professional growth as only a third disagree lack of opportunities. Employee Engagement August 21, InMoment, Inc. 27

26 ACT Employee Engagement August 21, InMoment, Inc. 28

27 Best Practice Prescribe unique areas of focus based on performance, impact on driving, and peer comparison. Action Plan Development 1) Review Focus Areas 2) Assess Resources / Capabilities 3)Set Realistic Targets 4) Set Timelines PLAN Best Practice Engage team members to set timelines and establish tactics. Employee Engagement August 21, InMoment, Inc. 29

28 Implement Action Plans ACT Employee Engagement August 21, InMoment, Inc. 30

29 Ongoing Communications - Quarterly updates - Team/Dept meetings - Bulletin boards Action Plan Monitoring - Measure progress - Make needed adjustments - Culture of accountability Employee Listening Posts - Focus groups - Pulse surveys - Free form feedback (text analytics) FOLLOW UP Employee Engagement August 21, InMoment, Inc. 31

30 Pulse Scenarios.. Who: Locations + Corporate Survey: Core Engagement (~25 Q s, ~2 Open-ends) Who: Locations Survey: Dynamic/Smart Survey (5 Q s, 2 Open-ends) Annual Survey Pulse Survey Scenario 1: Best Practice Q1 Q2 Q3 Q4 Scenario2: Popular Today Annual Survey Pulse Survey Pulse Survey Pulse Survey Employee Engagement August 21, InMoment, Inc. 32

31 IMPACT Employee Engagement August 21, InMoment, Inc. 33

32 The Problem. What is the link between employee engagement, loyalty and profits? Client finds no correlation Employee Engagement August 21, InMoment, Inc. 34

33 CUSTOMER ENGAGEMENT The Challenge. +/-YOY Sales change HIGH +5% +18% -3% -7% +8% +18% -9% -2% -3% +2% LOW -2% +4% -3% +11% EMPLOYEE ENGAGEMENT +7% HIGH Employee Engagement August 21, InMoment, Inc. 35

34 The Solution. Financial Linkage Model Application of advanced statistical techniques (GLM, Time Series) to solve this problem. Employee Engagement August 21, InMoment, Inc. 36

35 Job Satisfaction Gross Profit Commitment Customer Loyalty Extra Effort Guest Focus Atmosphere Food Mgmt Relations Team Work Team Members Drink Quality Work Hours Facility Appeal Parking E M P L O Y E E M E T R I C S C U S T O M E R M E T R I C S Employee Engagement August 21, InMoment, Inc. 37

36 Engagement does matter +4% Job Satisfaction Commitment Commitment +2% CSAT Revisit Advocacy Financial Impact 3% Increase in Gross Profit We expect lift in GP to fall between 1.8% to 4.3% To achieve this growth, you need to create great employee and customer experiences Employee Engagement August 21, InMoment, Inc. 38

37 Impact driver simulation E.g., Changes in Employee Experience Drivers Scenario +4% +3% $ Scenario 2 Scenario 3 Mgmt Relations +0% +5% Team Work +2% +3% BP hiring the right talent is critical Gross Profit (p. unit p. month) $450 $3000 Employee Engagement August 21, InMoment, Inc. 39

38 We all want to love where we go I love this brand and will recommend them to my friends/family I like this brand and will go out of my way to use them LOYAL ENGAGEMENT CREATES ADVOCACY I love my job and want to contribute to make it a better place to work My functional needs are met I had a good product/service delivery experience DELIVER I come to work and do my job SATISFIED I like working here, I m getting everything I need out of my job I care about my job and want to do well Employee Engagement August 21, InMoment, Inc. 40

39 Thank you! Employee Engagement August 21, InMoment, Inc. 41