You work very hard to increase and maintain profitability, right? What if I told you there was an additional way to improve profits that didn’t require late nights grinding for every deal? Would you want to know about it? It’s called Employee Engagement.
According to a recent study, engagement for employees of all ages is much more closely linked to leadership practices. The research identified the top drivers of ‘actively engaged’ to be when the employee has:
- Inspirational leaders
- Clear understanding of what customers want and expect
- Leaders that effectively communicate
These findings indicate that owners, GMs and managers must live leadership and promote company best practices in daily interactions.
When people work for an ineffective manager, the engagement level is very low. Those who work for a highly effective manager have high levels of engagement.
High levels of employee engagement drive improved customer satisfaction, which impacts bottom line profits.
The effectiveness of an individual leader is a key factor influencing engagement and this also impacts retention of talented employees, discretionary effort in the organization and organizational profitability.
Auto retail digital transformation must include employee engagement.
Auto retail is going through a transformation right now. Every level of the operation should be evaluated and reconstructed to meet changing customer expectations. I call this ‘digital transformation’ and your employees are an integral part.
Employee Engagement is not about being warm and fuzzy. While it is about making employees feel that they are an integral and important part of the organization, make no mistake; employee engagement has a direct impact on profitability.
A growing number of studies show that engaged employees are not only more satis ed with their positions, but they consistently do a better job and provide better service.
Employees are starving for leaders that provide substantial direction communication and consistency with values and supervisors that inspire, support and develop them. Disengagement at work is rampant across all age groups. By ignoring the needs of disengaged employees, executives directly undermine their values and their interactions with consumers.
The company behind the study discovered that employee performance is linked to their relationship with four key stakeholders: themselves, their manager, the customers and the organization.
Employee engagement is key to profitability
Today’s managers and leaders can increase employee engagement by taking the time to explain why it matters, why they are asking employees to do a task, and then help them understand how their work impacts customers.
Companies today are searching for ways to put their consumer first, yet they have overlooked the fact that more than half of their employees are stalling those efforts.
Dealerships that address employee engagement through better leadership practices will reap the rewards of stronger employee engagement and better consumer engagement much more substantially than simply focusing on new technology or marketing tactics.