Winning the war for talent with team engagement
In today's fiercely competitive business landscape, a new battleground has emerged. It's one that doesn't involve traditional weapons or territories but is just as critical to an organisation's survival and success.
This battleground is the "War for Talent" and it's one that Teamgage can help you win, through increasing your Employee Value Proposition (EVP) and more.
An ongoing war for talent
The term "War for Talent" was first coined by McKinsey & Company way back in the 1990s. But as Forbes reported earlier this year, it’s a dynamic that's gone from a temporary condition to our new normal.
For some, this has been driven by a real shortage of talent within their respective industry; while for others, more complex factors like shifting demographics and evolving workplace expectations (👋 hello working from home) have come into play.
What is clear, is that organisations are now engaged in a constant struggle to retain, develop and attract the people they need for success.
The war for talent was a dynamic that used to be a temporary market condition, but it’s become the new normal.
To remain competitive, it's time for organisations to take another look at their Employee Value Proposition (EVP).
Your Employee Value Proposition (EVP)
For a long time, the EVP would focus on more traditional benefits that could be offered to existing and prospective employees. From salary packages and bonuses, to retirement plans and fancy offices.
However, as time has gone on, the elements that make up the EVP have grown with the world around them. They now include promises on everything from work-life balance to the company values and culture.
But one thing that can set Teamgage customers apart from the competition, is their concrete and demonstrable commitment to team engagement.
Engaged teams have 15.2% more positive comments, have 4.7x higher improvement and 24.2% lower staff turnover.
As the data shows, this benefits everyone within the organisation in so many different ways.
Why is team engagement so attractive to employees?
Maybe because it's so different to the traditional employee engagement survey!
For example, with Teamgage, team members are given a real voice within their team quickly and simply. Regular insights can be submitted on questions relevant to the team in under 20-seconds ⏱️!
Then, results don't just disappear into a black hole, but are shared and discussed within a team huddle. This ensures that all those great ideas can be put into action and owned by the most appropriate team member.
This completely bypasses the need to wait for lengthy top-down solutions that just leads to greater frustration, and problems escalating to the point that people may want to leave (let alone join) a company.
We hear the benefits of team engagement time and time again, in our customer reviews and testimonials.
Through Teamgage we are increasing engagement, giving everyone a voice and the ability to contribute to the growth of the business as well as positively add to our working environment.
So this really does all foster a culture where everyone feels like they can play a part in steering their team's direction, promoting a sense of ownership, collaboration, pride and belonging.
Why team engagement needs to be part of your EVP
So exactly what benefits will you see from including team engagement in your EVP?
Well, by highlighting engagement in the EVP, you can attract like-minded candidates who also prioritise a positive and engaging work environment.
Not only that, your EVP will instantly become a lot more persuasive as you're able to truly demonstrate your commitment to values like teamwork, collaboration and a supportive work culture, sending a clear message that you value and invest in your team's engagement and happiness.
Being trusted to help your team work better together. What employee doesn't want that?!
Promoting team engagement in the EVP can also positively impact retention rates. Our own data analysis at Teamgage has shown that engaged employees are more likely to stay with their organisation, and showcasing your ongoing commitment to people having their say and taking action on results can encourage current employees to remain loyal. Plus, with real-time benchmarking reports, Senior Leaders can take immediate remedial action if any team starts to see more staff leave.
Beyond retention, an engaged workforce tends to be more productive and perform better. Again, our data analysis at Teamgage has shown that team engagement is one of the key components of a high performing team. Therefore, by emphasising team engagement, organisations can attract candidates who are not only skilled but also motivated to really excel in their roles.
📣 And yes, finally and most importantly, your people can truly be your best ambassadors! By helping your teams to work better together, employees are that much more likely to share their positive experiences and help attract other top talent through word of mouth.
So are you ready to promote team engagement in your EVP and win the talent war?
Check out our dedicated page to do just that.