Wednesday, May 16, 2007

A Passion to Profit: Secret to Success

From the Incentive Newsletter

Do your employees love their jobs? If your answer's anything but a resounding yes, you could be losing money.

A new study on employee engagement from PeopleMetrics, a Philadelphia-based research firm, says that employees who are passionate about their work consistently perform—regardless of industry, gender or compensation. In fact, the survey found that the top performers are at least twice as engaged as their lower-performing colleagues.

Just as many companies have shifted their focus to delivering more meaningful, emotionally engaging experiences to customers, they must now do that same work in house.

While monetary compensation and other perks are necessary for keeping a workforce motivated, they cannot be the sole generator of long-term engagement. "[Pay, benefits and resources] are not sufficient to drive the highest levels of employee engagement and performance," says Kate Feather, executive vice president at PeopleMetrics. "We found that creating emotional connections to employees is what truly matters because this is where organizations can dramatically boost employee productivity and business outcomes."

Employee engagement levels are quickly becoming an important differentiator in the ensuing talent war. Feather says the key for retention in the coming years will be for managers to create an atmosphere of engagement by keeping open dialogue with their staff, maintaining a level of trust, and showing individual appreciation on a consistent basis with employees.


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