Compensation may be worth considering when it comes to employee engagement.
This blog has previously mentioned the issue of employee engagement, and how many businesses today are familiar with the problem of employees feeling unsatisfied in their careers, and as a result are not engaged in their work.
If employee performance has become an issue within your organization, it might be time to consider how to increase engagement. Forbes contributor Josh Bersin suggests that it's time to reconsider the concept of engagement because it is "one of the biggest competitive differentiators in business." HR has traditionally measured employee engagement, but instead of approaching the task of measurement from looking at it at the end of the year, the author suggests that it should have a continuous approach.
Measuring engagement on a continuous basis would allow companies to keep the pulse of how employees are feeling, and how it is affecting their productivity, in real-time. This way, HR can take steps toward pursuing change as-needed along the way.
What can companies do to improve employee engagement? An article from Talent Management questions whether salary could play a role. According to the article, The Container Store decided it would pay its frontline retail staff an annual salary of $50,000. The thought behind this move is that one productive individual will "easily do the business productivity of three good people." The idea, explains the company's founder and CEO, Kip Tindell, is to compensate people according to their contribution. The bottom line is that people are working for a paycheck, and making it worth their while will create a higher level of engagement.
A comprehensive HR software program can be a useful tool for companies seeking to determine how well HR initiatives are working, in addition to other important employee considerations, such as compensation.