EISA’S INSIGHTS BLOG
Always measure engagement, and performance levels – fundamental #4
Published by EISA – March 20, 2023 – 2 minute read
If I asked a business owner or C-level leader if their business has financial statements, they would respond, of course we do. If I asked them to show me their formal process for measuring employee engagement and innovation, at least 95% would respond we don’t measure that. This failure to measure engagement and innovation levels is inconsistent with the need to have financial statements and a highly successful company.
“Without data, you are just another person with an opinion.”
W. Edwards Deming
“If you can’t measure it, you can’t improve it.”
All empirical data shows that employee engagement leads to greater productivity, lower turnover, fewer safety incidents, and significantly greater levels of innovation. Employee engagement and innovation are two of the greatest contributing factors to highly successful companies.
According to Gallup’s State of the Global Workplace: 2022 Report, in the U.S. and Canada, 67% of employees have little to no engagement, and 50% of employees experienced a lot of stress. Where do you think your people would fall into these categories ?
In 2018 a research paper titled, Innovation By All, was published by Great Place To Work. Their research found that conventional approaches to innovation used by business today is failing to keep up to today’s rapidly changing market. Great Place to Work discovered that companies that have an innovation by all culture generate more high-quality ideas and have 5.5 times the revenue growth of peers with a less inclusive approach to innovation. Do you have an innovation by all culture?
Adopting and practicing fundamental #4 – always measure your engagement and innovation levels provides the important data required by leaders to make informed decisions. Practicing fundamental #1 -possessing a zero tolerance for waste, and fundamental #2 – habitually overcoming your limiting paradigms, helps prevent a root cause problem for many businesses: Personal responsibility.
The bottom line: If your business isn’t achieving the success it needs, evaluate the fundamentals of your business culture. You are what you repeatedly do! The performance-centric thinking fundamentals are part of EISA’s program that is helping business leaders of SME companies to reach the intersection of business and career success: The location from where high-performance teams operate.