When was the last time you asked someone on your staff what your company stands for and what sets it apart from its competitors? Try it today—you might be surprised by the answers. According to recent Gallup research, only four out of ten employees really understand their company’s mission and its competitive differentiators. This could be a big problem for you.
Gallup’s research shows that mission and purpose are the two strongest factors for retaining Millennial, Generation X, and Boomer employees alike. Feeling connected to a company’s mission generates employee engagement, and this in turn drives customer satisfaction. In fact, companies in the top quartile of employee engagement outperform their less engaged counterparts by 10% in terms of customer ratings, 22% in profitability, and 21% in productivity.
It makes sense to build a culture where each employee understands not just the company’s mission but the role they play in delivering it to customers. Why do so many companies struggle with culture?
It turns out that it starts at the top. One of the biggest levers for employee engagement is the transparency of its leaders. Leaders of great companies constantly publicize their vision, regularly share vital information about the business’ financial health, and interact with employees on a daily basis.
Today, open your office door and start sharing and listening!