Business and Finances

Significant employee engagement metrics

The corporates have been talking about employee engagement for the past few years. It is true that what gets measured also gets improved. Employee engagement metrics are the measurement of how much employees are engaged at their workplaces. If an organization wants to enhance its employee engagement rate, it should measure how its employees feel about the work and culture of the organization. These metrics try to bring out the soft part of the employee journey to know how motivated and engaged they are towards their organization. 

Employee engagement became a hot topic in the corporate world and gained popularity as businesses indulged in a new era of operating style, remote and hybrid where work hour flexibility became strong. Employee engagement enhances employee retention and influences personal and organizational goals. Moreover, it also impacts employee well-being, performance, communication, and collaboration. 

  • Optimum productivity level

Managing engagement levels for new hires during their first year of employment is important. When intrigued with appropriate training and tools, new hires are expected to become more engaged and productive. On the other hand, fewer or not engaged new hires reflect the discrepancy in the onboarding process and they may become early exits. 

Calculation- Total cost of recruitment, training costs, packages of trainers and new hires, and all other expenses incurred. 

  • Feedback frequency

Feedbacks are crucial for every organization to build a transparent working environment. Regular feedback sessions not only boost the confidence of employees but also makes them feel important. Feedback here does not mean a single way. The feedback policy and process should be two-way for both employees and managers. The feedback sessions should be not so regular and not so irregular, they should be designed in such a time frame that does not create a burden or pressure on employees. 

Calculation- It can be difficult to find out the right frequency of feedback. The feedback range can be decided based on past data from employees, managers, and all other teams.

  • Wellness programs' participation rates

Employee wellness and engagement can be considered related to each other. They are the two sides of the same coin. A physically and mentally healthy employee will engage more as compared to a disengaged and mentally stressed employee. Organizations although taking care of employee wellness should also measure the impact of wellness programs on the productivity of employees. 

Calculation- The wellness program participation rate is equal to the number of employee participants divided by the number of eligible employees * 100.

  • Revenue per employee

Engaged employees are the reason for organizational success. An employee who is engaged is bound to give the expected output which helps in achieving the goals and revenue for the organization. While a disengaged employee will negatively impact an organization and creates barriers to growth. Revenue per employee will outline an estimation of an employee's inputs and contributions to organizations in monetary terms. 

Employee engagement facilitates employee growth as well as total organizational growth. The ongoing crisis in the labor market and shortage of talent makes it important for every organization to retain and engage existing as well as new employees.