Increasing Employee Empowerment Translates To A Stronger Bottom Line
Until recently, the main goals of HR technology have been to increase the efficiency of HR processes and to help ensure compliance with government reports and regulations. But there is another goal that may be just as important in the current business climate – supporting employees in the organization to increase employee satisfaction and retention.
Investing In Employees
The employees of your organization may be your largest asset. Two companies may appear to be very similar in terms of products and services, but one is much more successful; what is the difference? In many cases the critical success factor has been that the company actively engages and supports their employees. The best way for a company to increase employee satisfaction and retention is to invest in its employees. Here are some compelling statistics:
- Disengaged employees are estimated to cost $350 billion per year in lost productivity, accidents, theft, and turnover.
- The Society for Human Resource Management estimates that it costs on average $3,500 to replace an $8.00 per hour employee.
Investing in employee engagement increases employee retention and thus decreases employee turnover costs. An employee will be motivated to stay at a company when they feel comfortable, well respected, fairly compensated, and see possibilities for growth and personal development.
How To Engage Employees
There are three main ways you can engage your employees:
- Provide information to your managers and employees regarding their job performance.
- Communicate the company’s values, vision, and mission to all employees. Help each employee understand how his or her job contributes to the whole.
- Provide a supportive work environment; employees want to be self-sufficient and be able to do their jobs more efficiently. An organization needs to provide the environment, tools, training, and information necessary.
Sage Employee Self Service
Deploying Sage Employee Self Service (ESS) can give your organization a big boost in employee satisfaction and engagement. This add-on to Sage HRMS and is a powerful Web tool that automates your company’s business processes and promotes workplace satisfaction. Employees have access to and can take ownership of their personal information. Managers can become more self sufficient because they can easily access information about their employees and the organization. ESS runs in any Web browser and can be made accessible via the Internet or company intranet depending on how you choose to deploy it.
With ESS, employees have access to:
- Skills list
- Job history
- Performance reviews
- Pay history
- Pay stubs
- Attendance balances
- Time off requests
- Training and certifications
- Company phone list
Managers have access to:
- Employee data
- Attendance information
- Employee performance
- Salary history
- Time off request information
Employee Self Service and Analytics for Sage HRMS can be a powerful tool for increasing employee engagement and empowering managers and employees with access to information. Give us a call to discuss the benefits of deploying ESS in your organization.