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Tracking these five key employee engagement KPIs will not only give you a way to measure your efforts and give valuable insights
Employee engagement is often overlooked when it comes to measuring a company’s success, but the benefit and impact it has on productivity, work culture, and employee retention should make it a priority for all companies. In the same way the companies keep a careful eye on revenue and growth, employee engagement should be measured with key performance indicators (KPIs). Tracking employee engagement KPIs will not only give you a way to measure your efforts and outcomes, but also valuable insights into your company.
There are different KPIs to track for employee engagement, but here are five that you should definitely track to grow a successful and healthy company for 2023.
Employee engagement is one of the critical ways to measure the health of a company so, like a regular doctor’s check up, you want to regularly conduct surveys to see how your company is doing. The survey should be structured to give you a good grasp on what your employees think is working and what could be improved in the company. A good employee engagement survey should also give insight into an employee’s well-being and participation.
Keep in mind that you need a high participation rate to get the most accurate insights from the engagement surveys. Integrate the surveys into your workflows and make them easy to complete. Make sure to create a consistent engagement benchmark for your company and compare it to others in your area and in your industry. To learn more about what an engagement survey should look like and can do, check out Assembly’s employee engagement template.
So, do you know if your employee would recommend your company to others? An eNPS (Employee net promoter score) is a quick and easy way to find out how employees feel about the company, its values, and internal cultures by determining how likely they are to recommend the company to others. The survey is centered around the question “Would you recommend others to work for your company?” Based on the answer from a scale of 0 to 10 (not likely to very likely), employees can be categorized as promoters, neutral employees or detractors. A high or low eNPS can say a lot about a company’s performance and morale.
To get the most out of eNPS surveys and scores, keep your survey simple and focus on the likelihood of the employee recommending the company to someone else. Keep track of historical data to measure growth and patterns. Most importantly, gather actionable results and share them with stakeholders so that the insight is being used. If your eNPS tool isn’t able to do all of that, check out Assembly’s eNPS Survey template and learn more about how easy it is to personalize to fit your company’s needs.
Don’t be afraid of feedback! Honest employee feedback can provide valuable and actionable insight that can improve the company’s work culture and productivity. Provide opportunities for anyone in the company, from interns to management to the executives, to ask questions or flag issues. If you enable your employees to foster direct communications in a non-stressful environment, you’ll have a stronger idea of what is going on and more importantly, what is and is not working in the company.
The best way to get honest feedback is provide a way for employees to anonymously submit their thoughts and questions. Consider the Ask Me Anything Flow from Assembly. This flow is totally customizable and can help create a culture of honest and open communication by providing structure on giving feedback and responding to them. Learn more about this feedback template here.
Another valuable employee engagement KPI is employee satisfaction, also known as job satisfaction. This is just as important to measure as engagement and eNPS. The amount of satisfaction an employee has about working in the company is directly correlated to productivity and retention. This makes a lot of sense. It’s hard to produce good work and stay in a company if you’re not satisfied with your job!
There are so many influences on employee satisfaction from work-life balance, benefits, pay, workload, and the list goes on. A regularly conducted employee satisfaction survey can gather the insights to see the areas that need improvement and the areas that are positively impacting work culture. Check out Assembly’s employee satisfaction survey template to see how you can customize the template to make it work for you and your company.
Incoming and outgoing employees can provide special feedback and insight into particular areas of employee engagement and work culture. New hire surveys can give insight into the recruitment and onboarding processes. Who better to tell you how the process is (and isn’t) working than someone who just recently went through it? The first days of a new employee can be fundamental in shaping the rest of the working experience, so make sure you have the insights to shape it into a positive experience. Try Assembly’s New Hire Survey to gather the information you need.
On the other end of things, exiting employees can provide valuable insight as well. There are a lot of reasons why an employee leaves the company, but regardless of the situation an exit interview and survey are helpful ways to learn why someone leaves but also what would make someone stay. The honest feedback provided from someone exiting the company can be used to improve retention and work culture. To get ideas on how to structure an exit interview, check out Assembly’s exit interview template.
As you measure employee engagement KPIs, there are a lot of steps you can take to improve employee engagement and satisfaction. You can learn more about how Assembly helps companies like yours foster engagement holistically by making employees feel valued and connected to their work. Contact us today and take steps into improving your employee engagement.
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