The critical elements fall into a category financial individuals like to call the “soft stuff” and it”s defined by elements such as:
Here is an example of what a change in engagement can mean to the bottom line.
The difference between the Figure 1 and Figure 2 examples is $900,000.00 that can directly impact the bottom line with only a 15% increase in the engagement level. This is a number that is hard to deny when it comes to budgeting season. So your next question is probably, “How do I determine the 15% increase in employee engagement”? It is no more complex to quantify this change than it is for many other areas that we run budgets for. A few initial ways to measure engagement are:
So step forward when you are in the next budgeting meeting and demonstrate how the “soft stuff” can hold the key to the success of your organization.
Business strategist and founder of IMPACTinsights.