Better Employee Engagement for Better Profits

by | Aug 24, 2016

When business leaders look for ways to increase their profit margin, they primarily focus on the management of two key areas: sales and costs. Strategies that increase your revenue or reduce costs by streamlining your processes are common ways to increase profits. One often overlooked area that can boost your profit margin is taking steps to increase your employee engagement.

How Employee Engagement Impacts the Bottom Line

When employees are actively engaged, they are fully committed to putting forth their best effort at work. The extra focus, energy and effort provided by fully engaged employees has been shown to increase performance in a number of key areas for businesses. In 2012, entrepreneur, leadership expert and NY Times best-selling author Kevin Kruse posted an article that compiled the results of a variety of scientific studies that looked at how employee engagement impacts the bottom line.

These studies show that fully engaged employees have higher morale, lower turnover, and fewer accidents on the job, which improve profits by reducing costs. Actions taken by engaged employees also directly leads to improved customer service outcomes which build brand recognition and loyalty for the companies that employ them. This, in turn, increases sales, which also leads to higher profit margins.

Based on this research, it is clear that the best and easiest way to grow your profit margin is to actively take steps to increase the engagement of your employees.

5 Tips to Increase Engagement on Your Team

Increasing employee engagement is often easier said, than done, however. Especially since many managers and leaders often sabotage their own team building efforts. The following five strategies can help you to build better relationships and create a workplace that encourages greater engagement.

Respect Your Employees – Provide Meaningful Work and Opportunities for Growth

If you want your employees to put forth their best effort in their work for you, let them know that their work matters. Give them meaningful work. Help them see how completing a task fits into the big picture of achieving your mission and goals.

Whether its job specific training, seminars, mentoring programs or reimbursement for educational expenses, you can increase engagement by seeking ways to provide opportunities for your employees to acquire new skills and abilities. As your employees acquire and develop new skills, provide them opportunities to practice what they have learned.

Make Innovation Safe – Reward Creativity and Risk Taking

Many times, employees become disengaged and fail to put forth their best effort when they feel their work isn’t important. Other times, they fail to put forth their best efforts and bring you their most creative and innovative ideas because they fear that there will be consequences for failure, so they hold back and don’t bother to try to give their best effort each day.

These employees might show up every day, but they won’t give you their best. By openly rewarding creativity and letting your employees know that it is okay to fail when they are seeking ways to improve performance, you make it safe for them to bring you their best ideas and increase their morale and trust.

Be Clear and Fair – Provide Clear Direction, Coaching, Praise and Recognition

Another way that many leaders sabotage engagement is by failing to provide clear direction, and feedback. No one is born knowing how to do any particular task or job, and most of us learn best when we receive instruction followed up by periodic feedback to let us understand how we are doing.

Nothing kills morale and enthusiasm in your workforce more quickly than only speaking to your employees when you want to point out something that they are doing wrong. You can build trust, respect and increase engagement by offering employees’ frequent praise and recognition for their efforts and results. Make a point to reward excellence with meaningful perks, bonuses and other incentives.

Be Authentic – Open the Door and Listen and Take Action

Another way that businesses kill engagement is by taking a stand on a specific policy and then doing the exact opposite with their actions. For example, a company might say they care about the opinions of their employees, and even hold regular meetings, but then fail to take action on the concerns that are brought to them.

You can increase engagement and morale by being honest and authentic. Make a point to open the doors of communication in your workplace and actively listen to the feedback, comments and suggestions that you receive from employees. Follow up by taking action.

Make it Easy to Get the Job Done – Be Flexible

Most of us have interests outside of our workplace, and sometimes circumstances in our lives impact our ability to be fully engaged at work. You can remove obstacles to engagement, as well as create a more inclusive workspace, by being more flexible in the way that you allow your employees to complete their work.

Look for ways to offer alternatives to the traditional 9 to 5 schedule. Allow employees to work from home, swap schedules, or even work reduced hours some days to make it easier for them to complete their tasks while also achieving greater balance in their professional and personal lives.

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I have really enjoyed working with you guys and look forward to a successful 2013. From the moment we started with TAS I have seen value. The figures are accurate, you are accessible (and approachable!) and most of all – you are cool people!
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"Sophie is so professional – careful, attentive and punctual – she has made managing my accounts not just easier, but a whole lot less stressful"
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Sophie has been a tremendous support and guiding light for my business. I have continually succeeded when acting on her advice and by using her services. Her products are fantastic and her ideas and accuracy is out of this world. I would never hesitate to recommend Sophie’s services and I would invite anyone to contact me for a referral.
Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.

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Councillor at Warringah Council

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Sue Heins
Councillor at Warringah Council

Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.
Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.

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2017-10-13T09:26:35+00:00

Anne Maybus
Writer and Content Creator, Clever Streak

Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.
Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.

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Strategic Resourcing Manager

2017-10-13T09:28:24+00:00

Adam Dobson
Strategic Resourcing Manager

Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.
I’d been stalking Sophie for a while since I saw some of the great work she did at Ideas Book. What she’s up to at the SOHO Agency is equally impressive and I’m delighted to have someone working in this space who I feel so confident referring onto others. Keep being brilliant Sophie!

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2017-10-13T09:30:45+00:00

Robert Gerrish
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I’d been stalking Sophie for a while since I saw some of the great work she did at Ideas Book. What she’s up to at the SOHO Agency is equally impressive and I’m delighted to have someone working in this space who I feel so confident referring onto others. Keep being brilliant Sophie!
Sophie is an incredibly savvy business owner, for whom I have great respect. She has always been very clear and detailed in her instructions, is always very focused on her business objectives, and displays a business model that you can aspire to as a small business owner. I have no hesitation is recommending her work at The Accounts Studio.

Kristy Smith
Director, Virtual Elves Outsourcing Solutions

2017-10-13T09:30:59+00:00

Kristy Smith
Director, Virtual Elves Outsourcing Solutions

Sophie is an incredibly savvy business owner, for whom I have great respect. She has always been very clear and detailed in her instructions, is always very focused on her business objectives, and displays a business model that you can aspire to as a small business owner. I have no hesitation is recommending her work at The Accounts Studio.
I have had many a chat with Sophie on the networking circuit. Sophie has a strong profile and reputation within business circles and I wouldn’t hesitate to recommend her to any soho needing direction, support and encouragement. I have a passion for educating small business myself and wholeheartedly support Sophie in her endeavour to actively reduce costs for those who may be unintentionally making uninformed decisions relating to business management. Many business owners are unnecessarily outsourcing tasks which are misdirected or can be achieved inhouse.

Gai Hook
Virtual Sales Strategy

2017-10-13T09:32:05+00:00

Gai Hook
Virtual Sales Strategy

I have had many a chat with Sophie on the networking circuit. Sophie has a strong profile and reputation within business circles and I wouldn’t hesitate to recommend her to any soho needing direction, support and encouragement. I have a passion for educating small business myself and wholeheartedly support Sophie in her endeavour to actively reduce costs for those who may be unintentionally making uninformed decisions relating to business management. Many business owners are unnecessarily outsourcing tasks which are misdirected or can be achieved inhouse.
I’ve worked with Sophie as a contributor to Confessions of a Mumpreneur – a fantastic book that she dreamt up, edited and produced. Apart from producing fabulous books that help so many others realise their entrepreneurial dreams, Sophie is an astute business person who is making her mark on her own terms. Watch this space – I’m sure we’ll see and hear a lot more from Sophie Andrews in the years to come.

Jennifer Dalitz
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2017-10-13T09:50:01+00:00

Jennifer Dalitz
Gender Diversity expert, Career Coach, Award winning blogger on women, work & leadership @ www.TheSheEOBlog.com

I’ve worked with Sophie as a contributor to Confessions of a Mumpreneur – a fantastic book that she dreamt up, edited and produced. Apart from producing fabulous books that help so many others realise their entrepreneurial dreams, Sophie is an astute business person who is making her mark on her own terms. Watch this space – I’m sure we’ll see and hear a lot more from Sophie Andrews in the years to come.