OK, frustrated proving that engagement has a positive impact to your organisation’s bottom line? A Strategic Human Resource Management approach will help.
Here’s one to chat about with your bean counters – Engage-onomics: The economics of engagement 101
HR is typically seen as a cost centre. “Employee engagement initiatives are a nice to do and can sap up valuable budget” you might sense commonly from ill-informed bean counters and leaders.
But interestingly, there is no line in an organisation’s P/L statement for increases in productivity and performance (generated by employee engagement and motivation) of it’s company’s biggest investment – its workforce!
Have you ever worked out the total salary spend for your organisation? How many million dollars a year is it?
What is your organisation doing? At worst, are they protecting or insuring the stable performance of its most valuable resource – your people? At best, are they maximising the productivity and motivation of that asset through engagement?
Leveraging an extra few % from your people through improved retention strategies can add hundreds of thousands, if not millions of dollars to your bottom line profitability.
The bummer is, all the good work done by HR isn’t reported in the P/L as a profit centre. Ripped off or what??!!
As a way of staying thanks for being part of our Life by Design community we are releasing an extract of our People Glue book. 48 pages of thought provoking content on how to change the landscape of employee engagement as we know it now!