Nearly three years after the pandemic hit and the job market turned over its head, companies are still trying to understand the best way to engage and retain their employees. After all, A recent Gallup poll showed that only 20% of all employees were fully engaged at the workplace globally. The same study showed that companies with low engagement have a 37% higher absenteeism rate and lower productivity, costing companies across the globe up to $7.8 trillion annually.
So how can companies fix this? Can we create an atmosphere that makes employees jump out of bed all excited to get to work?
The answer lies in creating an Employee centric company. What does that entail? Establishing a work culture that enables the organization to run like a well-oiled machine – in other words, allows everything to run smoothly and efficiently.
Let’s see what it takes to create an employee-centric culture.
The Employee Centric Business Approach
Tech Giant Google conducted a multiyear research initiative in the early 2010s to understand engagement, productivity, and management across the organization, to help the organization scale.
The initiative ‘Project Oxygen’ focused on analyzing data on the factors contributing to the organization’s most productive, successful employees. The study found that the most influential factors were ‘being a good coach,’ ’empowering the team and not micromanaging,’ and ‘providing Constructive feedback -clean and actionable.’
These findings further highlight that management support and effective delegation can lead to better engagement and performance.
So what exactly is an Employee Centric Business approach? An approach that prioritizes the needs and well-being of employees by creating a positive environment, offering opportunities for professional and personal development and growth, and aligning the employees with the values and goals of the company.
A company culture developed along the above-mentioned approach breeds engagement and productivity, resulting in increased employee satisfaction, retention, better customer service, and a significantly improved overall business performance.
Visit Us to read our full blog on how an Employee Centric Culture benefits your business.
