UK MPs are again preparing to vote on Brexit this evening, with just 59 days until that moment of truth. Indicative of widespread uncertainty, understandably protection of profits is now a major cause for concern among company decision makers. A recent study by Deloitte suggests that investing in employee engagement now could be vital for the unknown future.
Of course the obstacles and problems that may or may not lie ahead will need more than greater internal communications policies to overcome should they materialise. But, according to 2018 research, increasing your budget for employee engagement could ensure a better position going forward.
Hence what Sandy Lucas has said, Chief People Officer at global talent acquisition and management specialist Alexander Mann Solutions. In short, businesses must spend on effective, tailored employee engagement to safeguard revenue.
This is because firms that do are likely to see vital aspects of the company improve. For example productivity and innovation.
Don’t take our word for it
Deloitte’s Voice of the Workforce paper, which collected responses from 2000 members of staff, has some damning findings. 26% of UK employees admit to ‘not performing to their best’. 32% are ‘not stimulated by their job’. 36% did not view their role as ‘meaningful’.
The report also shows disparities between Britons and European counterparts. On the continent, 1/5 employees said they are underperforming, adding to concerns that UK companies are heading for tough times. European Commission research has also predicted economic growth in our homeland will be the global region’s slowest by 2020.
It doesn’t have to be (all) bad news
While potential fallout from the UK’s big goodbye could be far-reaching, some sectors may be more protected than others. Specifically those in which Britain has long held the position as worldwide leader.
Companies in specialist areas usually share on thing in common, regardless of industry. Often employee engagement is higher because teams have niche skillsets. By definition, staff cannot be treated expendably in these areas. Or if they are the company is heading into grave danger.
It’s good news for firms in such sectors, but the concept can be applied elsewhere. Just because a task isn’t specialised doesn’t mean we should see those performing it as less important.
Putting this into practice
Our blog has several useful posts if you’re looking to try and improve employee engagement— not least making sure your people feel valued, and actively valuing them. These include ‘How to improve employee engagement in 5 easy pieces‘, and ‘6 employee engagement tools you should be using‘. Our guide on ‘5 ways to better use your employee engagement survey data‘ is also worth a look.
