As we move to the second quarter of the year, it’s high time for companies to evaluate the progress of the business with annual goals that reflect the visions and mission of the company. Almost all companies have clear strategies which are in ensuring the targets of the companies are met. Focusing on numbers as the key performance indicators is important for businesses and the growth of companies, but to what extent the numbers reflect the qualitative nature of the growth of skills in employees and employee satisfaction at the workplace?
The qualitative approach of measuring the success of companies by measuring the growth of employees in terms of skills upgrading and satisfaction is mostly forgotten. According to SHRM, companies with engaged employees pull 2.5x revenues compared to competitors with a low engagement level. The report also shows that managers account for almost 70% of the variance in employee engagement scores, and engagement is strongly linked to productivity. From these few data, we can see the other side of company success that is not well spoken by top leaders in many companies.
It is time for managers and top leaders in companies to realize the hidden and unmeasured power that exists in leadership. Recent studies have shown that having leaders in a company can accelerate profit by more than 15% compared to a company with ineffective leaders. The companies should start to include the leadership agenda in their targets to ensure the right leadership practices are maintained in the workspace and employees feel motivated to do their work regardless of the challenges that might happen at the workplace.
As Co-founder of Eagle Lead,It is my dream to see companies assessing their annual performance but not being limited to quantitative data such as profit, number of products sold, new subscribers, rate of production, or number of new customers. The other side of leadership, which is a great component in business successes should be taken into consideration while setting the goals of the company. Employee satisfaction, motivation, innovation, creativity, and self-esteem of employees depend much on the leadership approach of top leaders in the company. Though it is not an easy task to measure those qualities in employees, they speak a lot about the state of the company in it's journey to success.
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