KPI Examples to Gauge Employee Engagement
Teachers can often gauge student engagement by how many are looking at the clock, waiting on a bell to ring. Your employees are likely no different. Your managers and team leaders can likely measure employee engagement by how eager your team is to leave at lunch, at the end of the day, and on Friday. While no doubt most of us look forward to our non-work lives, the most successful businesses are the ones with employees who have buy-in. Employees who are invested in seeing that a company succeeds are focused on tasks and objectives more than the clock. In fact, 71% of executives say that engagement is fundamental to their success.
That’s not to say work-life balance isn’t essential (and a contributing factor to employee happiness), but employees who are engaged in business can have a significant impact on profitability, customer satisfaction, recruitment and retention, innovation and a number of other factors that help build business success. Because these metrics are so important, monitoring valuable employee engagement metrics can be vital to making sure you’re leveraging your employees’ energy and investment and turning it into a boon for your business.
- How the remote workforce shift impacts employee engagement
- KPI examples for monitoring employee engagement
- Using data dashboards to gauge employee engagement
- How to use insights from data dashboards to boost employee engagement
How the remote workforce shift impacts employee engagement
By now, we’ve all come to the realization that the workplace changes instigated by the Coronavirus pandemic may be more permanent than originally anticipated. Certainly this shift presented multiple challenges to businesses well beyond human resource concerns, but those cannot and should not be ignored.
It’s always been far easier to welcome new employees into organizational culture when they had daily touch points with other employees and integration into an office environment. Similarly, team building and mustering alignment on key objectives was also easier when everyone was in the same place. Team building opportunities and familiarity with co-workers and business goals, from working together on projects to casual office banter, facilitated employee engagement in ways that often cannot be recreated in remote work situations.
That said, there is definitely an argument to be made that, on smaller teams, video conferencing has opened a window into our co-workers lives that helps team building and fosters relationships. Further, workers report being happier working from home as well. But can that, does that, translate into employee engagement? It might. In May of 2020, a study found that 62% of employees said remote work was actually beneficial to their engagement.
KPI examples for monitoring employee engagement
Regardless of whether remote work continues, there’s no debate regarding the positive impacts of employee engagement. Whether from home or from the office, employees invested in your business improve your bottom line, so it’s in your team’s best interest to understand the best ways to gauge employee engagement.
One KPI example used to measure employee engagement is productivity. Workers who are engaged are driven to perform. They see value in their work. In turn, they are 21% more productive than disengaged employees. There are multiple ways to measure this, including revenue/employees, but there are other factors worth considering.
Another KPI example for monitoring employee engagement is absenteeism. When your team wants to be in the office, feels connected to your organization’s mission or vision, and feels driven to deliver on tasks and projects, you’ll see a decrease in absenteeism. In fact, in a study, 63% of U.S. employers report a direct connection between attendance and engagement. In this regard, you can track and monitor team absences as well as employee churn. Engaged employees want to be at work.
Another metric to consider when looking at employee engagement KPIs is efficiency. While productive workers deliver a lot of work, effective workers complete work correctly and with as little wasted time, effort, and resources as possible. You can gauge this by looking at trouble tickets, customer satisfaction, resource management, and the time it takes to complete standard tasks.
A final KPI example for measuring employee engagement is customer satisfaction. Engaged employees want to support the businesses they work for and contribute to their success. Naturally, many of them will make the connection between customer experience and satisfaction and the success of a business. In response, engaged employees are more likely to extend themselves for customers and clients, reaching beyond expectations to ensure that coveted customer satisfaction. In turn, your business has returning customers who cost less to serve and sing your praises providing valuable word of mouth referrals.
Using data dashboards to gauge employee engagement
While we’ve highlighted a few of the key KPI examples to gauge employee engagement, there’s actually quite a bit you can be monitoring in terms of your employees to fully measure their engagement and satisfaction. In addition to their individual performance and customer response, you can also be monitoring revenue, customer acquisition, and HR metrics like successful hires and internal promotions. In short, there’s a lot to look at.
One of the best ways to track all of these different KPIs is through a data dashboard. Particularly when you use BrightGauge’s customizable dashboards, you can tailor your view to include all the metrics you’ll need to fully understand how engaged your employees are and how that’s impacting your customers and business’s bottom line.
A visual tool to monitor all of these items gives you and your team a great overview of where you’re having success and helps you measure when engagement may be waning so you can respond quickly and effectively.
How to use insights from data dashboards to boost employee engagement
Employee engagement not only ensures business success, but it also helps your organization hire and retain the best people for the job. Considering these two very important elements, it’s critical that should you notice employee engagement KPIs waning, steps can be taken to reinvigorate your team, increase their feelings of connection to the business and teams and to their work.
Data dashboards and their visual display allow you to draw connections between an employee’s task and business growth or success. Your ability to share this data with teams or individuals helps establish a connection between them and larger goals, making them feel valuable to your organization. Additionally, if you notice issues, scheduling meetings with team members or whole teams, depending on the metrics and encouraging their feedback allows you to address issues before they start to impact other aspects of your business.
Finally, the ability to see and share all of this information with your employees fosters trust in your organization. Transparency is valuable because it’s inclusive and that inclusion translates to buy-in.
If you’re looking for a data dashboard that’s fully customizable, providing filters that allow you to organize information the way you’d like it to be seen, that provides a bird’s eye view as well as a drilled down inspection of the metrics you care about, that allows you to monitor the engagement, productivity, and retention KPIs you care about, get in touch with our team today. Let’s see how we can help you turn or keep your team into one of your business’s best assets.