Motivating your employees goes beyond a paycheck. Benefits programs, better health coverage and team bonding exercises can all help with improving employee engagement. This concept, however, is not ingrained in most company cultures. To convince your executives the importance of other forms of rewards, you will need to prove it with improved revenues and lowered costs. Executives are fixated on numbers – they want to know how initiatives can improve their bottom line. Here are 2 strategies to focus on when convincing your C-suite team.
1. Show how they can increase revenue and sales
Increased performance and revenue is directly linked to employee engagement. This is a big claim, but one that appeals to even the most penny-pinching of managers. Engaged employees go the extra mile and are more aligned with the company’s mission and objectives. They take ownership of their work and are a source of competitive advantage for your company (read more about employee engagement here). Furthermore, engaged employees in front facing roles are more likely to meet their goals and provide better service, enhancing your brand image and display a positive view of your firm. Another helpful point to mention is that pay increases are rarely an economically viable solution. In contrast, engagement programmes do more to recognise loyalty, are far cheaper to run and encourage a positive attitude towards the firm.
2. Demonstrate the potential savings in terms of lowering turnover
There are numerous costs involved in employee turnover. This includes training, hiring costs, lost in productivity and other intangible costs like poor morale and motivation. You should know how high turnover is in your firm and have an estimate on how much these costs are before you present to your c-suite. With this information, your manager will pay more attention to this problem and be convinced that action is needed.
In the end, it’s all about the numbers. C-suites want to know how new initiatives can improve their bottom line and HR managers would benefit by arming themselves with data. If you can show the numeric improvements, you are one step ahead in improving your workplace.