Strengthening Company Values through Open Data Sharing
As an office manager, department manager, CEO, shareholder, or any other leader, one of your most difficult yet central duties is maintaining an office culture that is conducive to both productivity and employee happiness. Unfortunately, however, many employees approach their job with the, “work is work” mindset, and aren’t entirely invested in their job or the company for which they work. But it is so important that they are! Why? Because happy and invested employees are the pillar of a successful business.
According to the Corporate Leadership Council, “engaged and satisfied employees feel a profound connection to their company, and are driven to help their employers succeed.” Developing a happy employee base is about much more than offering great salaries and benefits though (which most employers assume works); it’s about ensuring that employees feel happy in their jobs and creating an office environment in which people feel purposeful and engaged with the company as a whole.
So, how can you create such an atmosphere? Dashboards can help.
Use Dashboards to Create Transparency
In today’s market, transparency is more important than ever. Consumers want to know everything about a company before they choose to work with them. They want to know what goes into their products, how they treat their employees, and what values the CEOs hold near and dear. There is no room for secrecy in today’s business world, especially with high profile scandals peppering the daily news.
Consumers aren’t the only ones that demand transparency, though. Employees need transparency as well, especially if shareholders and CEOs want them to operate at maximum efficiency. Transparency in data and in culture strengthens the foundation of teamwork and forces a team to work harder and smarter to achieve common goals.
Dashboards enable leaders to be transparent with their teams by allowing them to share data regarding everything from customer acquisition to department productivity; from marketing successes to employee retention. This enables each employee to adequately identify and improve upon problem areas, respond to situations quickly, problem solve more successfully, and, most importantly, align their personal career goals with the business’s overall goals.#Data transparency strengthens teams. #engagement #ownership Click To Tweet
Additionally, transparency helps managers, CEOs, and shareholders alike develop meaningful relationships with employees, as it allows them to establish a level of trust not otherwise seen in the work place. That trust motivates employees to care more about the work they do and to work harder to obtain a beneficial outcome.
Read next: Transparency Traps (And How to Avoid Them)
Use Dashboards to Solicit Feedback
While there are several different ways to obtain employee feedback, at iDashboards, we’ve found that surveys are a great starting point. Not only do surveys receive a great response rate, but also, they allow you to visually track and analyze feedback, and to follow up and take appropriate action. Feedback is useless without loopback, and not responding to it can even hurt employee engagement. On the other hand, when you show your employees that you really care about them and their opinions, they will become more engaged in their work and be happier while doing it.
Dashboards also allow you to track each employee’s performance levels and provide them with constructive feedback. Whether employees receive feedback about their weaknesses or are applauded for their strengths, statistics show that employees who receive any type of feedback are more actively engaged than those that don’t. In fact, lack of feedback often results in disengagement, poor performance, and low retention rates.
Use Dashboards to Establish Psychological Ownership
In the 1970’s, the U.S. noticed a sharp decline in employee productivity and engagement. To combat this, Congress passed legislation incentivizing companies to sell stock to their employees. The idea was that if employees had actual ownership of a company, they would work harder and be happier. However, the plan didn’t work so well. Subsequent studies found that stock ownership—no matter how much or how little—had virtually no effect on the level of employee commitment or job satisfaction because the employees didn’t feel like owners.
Dashboards can help establish the feeling of ownership by allowing you to share relevant metrics with employees in a way that they understand and care about. Whether you’re sharing information about budget goals or marketing outcomes, keeping your employees in the loop helps individuals understand their contribution to the company goals and empowers them to make informed decisions and invest more effort in their job. In short, it helps to create that feeling of ownership that stock ownership could not.
Use Friendly Competition (and Displays) to Drive Employee Engagement
According to the latest Gallup poll, engaged business units lead to measurable improvements: 41% reduction in absenteeism, 17% increase in productivity, and 21% greater profitability. Sales teams that regularly address their employees’ engagement outperform by an average of 20% those that disregard it. So how do we keep employees engaged? Breaking down the definition from Engage for Success, we know that employee engagement is found in organizations that encourage all employees to actively participate in company activities and invest in the organization’s goals. One way iDashboards does this is to inject a bit of friendly competition into the mix.
While there are several creative ways that you can boost employee engagement, iDashboards holds a company-wide weight loss challenge each year that aligns each team member’s individual goals with company goals. With each workout complete, employees are not only bettering their own lives, but also, they are actively working toward engagement and a happier (and healthier!) company culture.
Of course, being the data driven company that we are, we also showcase each participant’s progress on LCD wall displays strategically placed in each department. Doing so helps to motivate participants to keep going and keeps non-participants engaged and informed.
We also use our wall displays to help everyone within the organization to understand what is happening, why it’s happening, and what they can do to contribute to the company’s overall goals. Each department has its own display that showcases metrics relevant to their particular area (marketing’s display tracks lead generation, HR’s display tracks employee retention rates, sales’ display tracks lead/won rates, etc.). The lobby display is more laid back, however, and keeps everyone up-to-date on company events, introduces new hires, wishes employees a happy birthday, and shares general news about the company. We’ve found that our department displays establish psychological ownership while our more fun lobby display creates a sense of belonging and camaraderie.Cultivate corporate camaraderie with #data #dashboards Click To Tweet
While sales fluctuate, processes change, and income ebbs and flows, the one thing that remains constant is people. People are the lifeblood of any business, and if you want your business to be successful, your people must be happy. And we’re not talking content happy, we’re talking happy happy. As in, they enjoy going in to work, don’t watch the clock, and are always surprised to see the day come to an end happy. A great company culture makes such an ideal possible.