If a CEO is asked about their company’s competitive advantage, a major percentage of them would say it’s their employees. Whether you sell a product or service, if you do not have a stellar team to build and deliver it, your company is doomed to fail.
A Quantum Workforce 2015 Employee Engagement Trends Report states employee engagement to have declined to its lowest in 8 years to 65.9%.
When employees do not feel engaged or have easy accessibility to the data they need, they are left with a feeling that the organisation does not trust them. This decreases their morale, affects their productivity and eventually the overall business success. Disengaged employees are 80% more likely to quit and join your competition if you do not take steps to turn them around.
Although organisations quote “increasing employee engagement is their top strategic priority”; most often they are not taking the necessary steps to understand the driving factors that adversely affect employee engagement.
Having an appropriate employee knowledge management system helps drive employee engagement, improve staff performance and quality of services provided. An intranet employee knowledge management portal also assists organisations foster team collaboration, dole out important news / announcements, improve intra and inter departmental communication and share company data with their employees.
Companies can use an optimised employee portal to create discussion boards where employees can come up with collaborative ideas to tackle a project. Rewards and benefits associated to such discussions go a long way in improving employee engagement and boost staff morale.
Actively involving staff in projects, listening to their feedback and acknowledging their hard work determines if they will stay in the company or move to competition. Companies that create a culture of continuous learning and investing in their staff have seen a significant reduction in employee turnover and improvement in business ROI.
Invest in resources such as an employee knowledge management solution that can convert your normal staff into a strategic asset to the company and gain that competitive advantage you have always been seeking.