Increasing profitability is the holy grail for most commercial organizations. How do you generate more revenue while managing costs in a sustainable way?
When Steve Jobs was the Chief Executive of Apple, he announced record profits. In theory, his ‘secret sauce’ was simple: “Manage the top line: your strategy, your people and your products, and the bottom line will follow”.
While investing in strategy and products is often standard business practice, creating a business case to invest in people can be trickier. Yet the difference between the long-term business success and failure so often lies in the hands of the employees. Are they productive and innovative? How well are they serving customers? Are they implementing the standards of physical and online safety and security that you require? Are they representing the values and beliefs of your company? Are they motivated to go a great job, go the extra mile and stay with you?
How do you get the best out of employees?
People are complex! Many studies have shown that as long as people are paid fairly, simply offering more money does not lead to greater engagement. In fact, sometimes the opposite is true!
There are many other ways to drive engagement. Daniel Pink published the results of a study of the topic undertaken in conjunction with the Massachusetts Institute of Technology (MIT) in his best-selling book called ‘Drive’. He also produced a popular short video called ‘The Surprising Truth About What Motivates Us‘.
The study shows that employee motivation is determined primarily by 3 key factors: Autonomy, Mastery, and Purpose.
- Autonomy is the need to direct your own work. To be fully motivated, employees must be able to have some influence over what they do, when they do it, and who they do it with.
- Mastery is the desire to improve. Talented employees seek to improve their skills through learning and professional development.
- Purpose is the need for people to see the bigger picture and to understand how the work that they do connects to this. Employees who believe that they are working toward something larger and more important than themselves are often the most hard-working, productive and engaged.
Collaboration and Communication
Harvard Business Review research reveals that, on average, 95% of a company’s employees are unaware of, or do not understand, its strategy. If the employees who are closest to customers and who operate processes that create value are unaware of the strategy, the chance of creating that sense of purpose is significantly diminished.
But it doesn’t have to be this way! The way an organization communicates, collaborates and listens is a critical component of the three tenants of engagement that Daniel Pink outlines. Involving employees in conversations about strategic priorities creates buy-in, an improved customer experience, and ultimately profitable business growth
If it is so obvious, why is it difficult in practice? And is there a secret to success?
Want to know how you can measure the success of the Digital Workplace? In this next blog post, we outline 6 helpful steps to ensure that you are measuring the real success of your Digital Workplace.
The rise of the Digital Workplace
Propelled by new technology, the Digital Workplace is fast becoming the essential collaboration tool to create a new type of corporate culture where the principles of Autonomy, Mastery, and Purpose thrive.
Beezy technology is leading the charge – it really is the all-in-one Intelligent Workplace solution for Office 365. But importantly, it’s as simple and as effective as the best consumer-grade technology. Anyone who has ever used Facebook, LinkedIn or Twitter is likely to immediately find it easy, effective and intuitive to use – no training required! And in a world of increasing employee autonomy, remote working is enabled through a user-friendly mobile app.
Contributing to profitability at a practical level
While the Digital Workplace is a key tool to create motivated employees, there are also many day-to-day examples of how tools like Beezy contribute to business success. Take a look at our current top 10:
- Providing a salesperson with easy to find product information will enhance their ability to sell.
- Enabling customer service people to find helpful information internally, will ensure they can satisfy customer requests more efficiently with a higher quality of response.
- In a global organization, a multilingual Digital Workplace ensures that content can be readily exchanged between employees, regardless of the language they speak.
- Enabling personalization of a Digital workplace means that the information you need will often find your employees, rather than the other way round!
- Integration with software like Microsoft Teams, Salesforce and Workday means that employees do not need to switch between screens and applications, saving valuable time and frustration.
- At the touch of a button, employees can share the key, approved information about organizations’ products, campaigns and culture via their personal social networks, reducing the cost of marketing while improving employee pride.
- As Bot technology develops, the Digital Workplace is fast enabling every employee to have their own, no-cost virtual assistant to make their working lives easier.
- Senior Executives can hold an online dialogue with customer-facing workers without key information being diluted through management layers.
- The tool can be used to ‘crowdsource’ critical business ideas including ways to save money and improve the customer experience.
- Everyone in an organization can simultaneously hear about, contribute to and celebrate success.
If you are at an early stage in your journey, Beezy can also help you to prepare a business case that will demonstrate that all-important return on investment within your organization. What’s more, they can help you to successfully introduce and embed your Digital Workplace, helping you to power your profitability.
Want to know how you can measure the success of the Digital Workplace? In this blog post, we outline 6 helpful steps to ensure that you are measuring the real success of your Digital Workplace.
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