HCM Technology’s Bonus Benefit: Increased Employee EngagementFebruary 25, 2016 Blog Post
Increasing employee engagement should be an important consideration when looking at your organization’s overall HR strategy.
The term “employee engagement” is one that HR professionals and business leaders are intimately familiar with. Research from countless surveys illustrate the importance of employee engagement on productivity, retention, and even bottom line results. Fortunately, for organizations using, or planning to use, human capital management (HCM) technology such as Paylocity’s Web Pay, boosting employee engagement is an added benefit.
One of the most common challenges for an organization is effectively and transparently communicating with employees. Organizational goals and strategies. Corporate structure and policies. Payroll and benefits information. These are all things that highly engaged employees know and understand. However, according to a TINYpulse Employee Engagement Survey, an alarming 58 percent of employees don’t know their organization’s vision, mission, and cultural benefits.
Organizations can address this gap by utilizing tools that effectively communicate important information. Paylocity’s self-service portal, for example, helps improve communication between HR leaders, executives, and employees. The self-service portal provides the ability to post and manage company news, create custom web pages, add training documents and videos, and much more. The self-service portal was designed to keep employees informed and engaged.
Another often overlooked employee engagement-boosting benefit of utilizing HCM technology, is enhanced performance management tools. Paylocity’s performance management tool allows employees to actively participate in the review process by setting goals and soliciting feedback from peers and other departments. This helps drive engagement by making the employee feel more like a contributor than a spectator.
In addition to better communication and more effective performance management, peer-to-peer recognition is a key factor in truly promoting employee engagement. In fact, according to TINYpulse, “peers—not money—are the #1 influence on their colleagues, and the source of 20 percent of all employees going the extra mile. Compensation is now viewed as just the baseline reason for taking a job. Camaraderie plays the true motivating role in encouraging employees to outperform expectations.”
With Paylocity’s peer-to-peer recognition tool, Impressions, employees can provide colleagues with timely, meaningful recognition for a job well done. Paylocity’s Impressions also helps promote collaboration among employees by providing an intuitive tool that resembles popular social media type networks. And the Impressions tool is also completely mobile friendly – meaning employees can provide or receive meaningful recognition from their personal mobile devices.
The most successful organizations recognize the value of a highly-engaged workforce. As more and more of these organizations embrace HCM technology to streamline payroll and HR-related functions, employee engagement is likely to see an unintended, but welcome, boost.
To learn more about how Paylocity’s solution can improve employee engagement at your organization, click here.