When it comes to adding people to grow a business, many owners are reluctant due to the increased cost, and then are frustrated and confused on how they can drive revenue and profitability higher without adding to staff. Further, owners don’t understand that when they don’t focus on building a culture based on the company’s core values, employees often become disenchanted and leave. It shouldn’t be so hard to build a business that can grow and build a culture where people are actively engaged.
Peter Drucker said, “Culture eats strategy for breakfast.” You can have the greatest strategy in the world, but if the culture is toxic or employee engagement is low, your strategy will fail.
I have a client that hired a new CEO about 6 years ago. This firm built their culture around the 3 legs of a stool: 1) talent development, 2) business development, and 3) talent management. They reframed their vision to one of collaboration, not only between employees but also with clients and prospective clients. This increased employee engagement because the firm was investing in their people. In addition, it also increased client interaction which has created significant revenue growth for the firm. This CEO reframed the vision of the company and is reaping the reward of collaboration and employee engagement.
I have another client that has been in business for a long time. They have been successful, but for the last six years the company has struggled. Accountability is low; therefore, execution suffers, and employee engagement is low. This company has strong core values and lives up to them. But, they have not successfully built a culture of employee engagement around those core values.
Employee engagement is often confused for job satisfaction, but engagement has much more to do with an individual’s connection to their organization. Employee engagement is defined as the degree to which an employee is motivated and passionate about their work. So, how do you motivate and create passion in the workplace?
I would hold up these 5 strategies:
- Uphold your company’s core values. Don’t just talk the talk, walk it.
- Carve out career paths. Collaborate on career direction.
- Provide opportunities for growth. Higher achievers like to be stretched.
- Recognize top performers.
- Promote transparency.
If you’re just getting started, pick one to start and build it from there. There’s a war for talent out there. It’s time for a change in how you attract and retain your employees.
