Everyone deserves to enjoy work. Building and maintaining a culture with a positive employee experience is not only the right way to run a business, ultimately it's the most profitable.
Numerous studies show that organisations with strong capabilities in engagement and other people-focused areas such as HR strategy, planning and analytics, show significantly better financial performance than companies which are weaker in those areas.
Independent research on Great Place to Work data shows:
2. Barrett, R. 2013. The values-driven organisation: unleashing human potential for performance and profit, Routledge.
3. Guiso, Luigi and Sapienza, Paola and Zingales, Luigi, Chicago University,The Value of Corporate Culture (2013). http://ssrn.com/abstract=2353486
If you end up having a budget [for employee engagement] then that would be quite sad and in some ways extremely limiting. We do what we need to do in line with our values; I don’t think you can put a price on that sort of thing. I don’t intend to add it up because we’re not going to stop doing any of the things that we are doing.
Being able to measure engagement is really only about making sure we get better at it. The £250,000 budget [for tangibles like surveys, rewards and milestone gifts] - is the tip of the iceberg. The time we invest in engagement will be the real cost - listening groups, presentations on engagement strategies, fundraising, actually having some fun, taking time to help someone out… the list is endless.
I can’t give you a pound figure for how much we invest in engagement. All I can say is that it is something that is of global importance to us. Our scorecard fits onto one page of A4.
Our profit growth since I joined in 2008 mirrors the trend in the growth of our engagement levels - proof that employee engagement is directly related to business performance!