Skip to main content

Enhance employee engagement or hire engaged employees ?



Profit being the key driver of any business, all its activities are necessarily aligned to achieving this goal. Employee engagement is one of the means being increasingly employed by businesses worldwide to maximize their profits.
The latest trends in employee engagement indicate that future companies would be driven by compassionate leaders, marked by greater flexibility and much greater influence of big data…all aligned to creating engagement rich organisational cultures.  
But regardless of the direction it takes in the future, employee engagement entails both monetary and physical costs. Companies typically spend massive amounts of money on incentives, benefits and reward programs. They must train and develop their employees and also spend on various supporting programs, physical and IT infrastructure. All of this plays a critical role in the success or otherwise of employee engagement. 
The problem


But despite such massive outlays Gallup’s poll shows that employee engagement has risen by a snail’s pace from 29% in 2011 to just 31% in 2017  in the US and this figure is all the more dismal at 13% at the worldwide level.
On top of it comes the bad news about attrition despite the enormous attention being paid to employee engagement, its increasing role across companies and the massive financial outlays that companies have earmarked for this initiative. 
The 2016 Deloitte Millennial Survey: Winning over the next generation of leaders, estimates that two in three Millennials expect to leave their employers by 2020 and 44% expect to leave in less than two years. It is pertinent to point out that this generation now represents the largest share of the US labour market.
According to a Glassdoor report, only 54% of employees recommend their company as a place to work and according to a Dice Tech Salary survey, two-thirds of all workers in the high-tech industry believe they could find a better job in less than 60 days if they only took the time to look.
The solution


In this scenario, companies must necessarily look for practical solutions that would help them in keeping their employees engaged. Clearly, it would serve their purpose if their expenditure on employee engagement is reduced.
One sure way to achieve this aim is to either entirely or partly outsource some core functions like finance, HR and marketing.  Many companies have also started to outsource their IT functions fully or partially.  Engaging companies like Outsourced CMO gives a four-fold benefit to the parent company. 
  • It ensures that the parent company gets a fully engaged team that is geared to work towards its goals as the outsourced team is driven by the pre-agreed KRAs and works with zeal and single-minded drive to fulfill its commitment.
  • It lessens the burden on the HR department of the parent company by reducing the number of employees that it is directly responsible for in terms of employee engagement.
  • Reduction in the number of employees frees HR to devote more time to other core and pressing areas.
  • It also naturally has a beneficial financial implication for the parent company. Lesser number of employees means lesser outflow of finances on employee engagement programs like training and on incentives and benefits.
Thus it creates a win-win situation for the parent company as it not only takes care of the vexed question of employee engagement, albeit partially but can also go a long way in making their businesses profitable as they take onboard experienced and tried and tested professionals who can hit the deck running.

Comments

Popular posts from this blog

Why sharing human talent is a good idea for businesses?

Yes indeed, these are exciting times. We are inching towards a fully digitalised world, all thanks to the rapid advancement in technology.But this comes with its own set of challenges that confront every part of the society and business is no exception.
Businesses have had to evolve strategies and embrace new technologies to keep pace with this rapid transformation be it the increasing use of AIand automation for a variety of purposes,the use of various software, 3 D printing, collaborative consumption etc.
What is the issue ?
But one issue that continues to remain steadfastly in the current fast moving digital era, is the issue of talent sharing across domains.
Even as the employment landscape and norms are changing with the emergence of the gig economy and businesses themselves are resorting to the contractual method of work on an increasing scale it is pertinent to ask how fair is it to restrict the natural flow of talent possessed by professionals and debar them from maximizing their …

“OUTSOURCED CMO” is now registered Trademark

Simplicity is the key in today’s brand world. Keeping it in mind along with collaborative consumption mindset, brandOutsourcedCMOhas helped companies gain recognition within various markets and continue to do so. And now, to protect our identity and exclusivity, we have registered our brand name ‘Outsourced CMO’ – Yes, Outsourced CMO is registered now! This means we at Outsourced CMO hold exclusive rights to use this brand nameand no person/firm can use it without our permission. The goodwill and trust we have built over the past years helps in differentiating and separating our services from other players in the industry and this step will protect it for us and companies who hired us. The registration process protects any infringement as per the Government of India and will bring on legal hassles for infringers.
Since Outsourced CMO strongly believes in the concept of shared economy, we at Outsourced CMO strive towards lowering marketing costs, strengthening communities, increased ind…

ENTREPRENEURS ARE NOT BORN, THEY ARE MADE....

An entrepreneur is an individual who sets up a business, assuming the risk and rewards of the venture. Now the question arises, are entrepreneurs born with business acumen or an individual can hone his skills to become a successful entrepreneur? It is a matter of nature versus nurture. A couple of decades ago we could have easily accepted the fact that entrepreneurs are born looking at the history of success stories of the likes of Dhirubhai Ambani,Ratan Tata and Seth Shiv Narayan Birla to name a few. Back then there was no lack of ideas or funding-rather there was a dearth of driven, capable and obsessional entrepreneurs.
But with the advent of digital revolution, learning and developing certain skill sets is just a click away. Sharp focus on objective and an insatiable desire to succeed can move an entrepreneurial venture to great heights. Truly, a burning desire has devious ways of transmuting itself into its physical equivalent.
The entrepreneur of today works backwards on his visio…