A smart leader knows that employee engagement is a mandatory component to running a successful company. When employees are engaged, they are more motivated and invested in helping the business to meet its goals.
While it might be clear to you that employee engagement is critical for success, the levels of employee engagement may not be as obvious. This is why you need agile performance management software to help you measure and understand your current level of employee engagement.
In fact, when leveraged alongside the following HR KPIs, you can begin to measure engagement in your workplace and apply actionable insights to those findings.
12 Metrics to Help Managers Boost Employee Engagement
1. Turnover Rate
Turnover rate can be one of the key indicators of how satisfied and engaged your employees are. While different fields have different average turnover rates, compare your Beyond looking at the numbers for your company as a whole, it may even help to track this KPI for different departments.
2. Productivity Rate
Employees with high engagement tend to be more productive, so it can help to track productivity over time. If you notice a dip in the productivity numbers, it could be an indication that your company is developing a problem with engagement.
When employees are interested and engaged, they usually miss fewer days. Track your rates of absenteeism for the entire company, different departments and for individual employees.
4. Employee Net Promoter Score
How many of your employees would recommend your company as a place to work? That is what the employee net promoter score is intended to measure. If you have a high employee NPS, it shows that you have a loyal team that is happy to be with your company.
5. Glassdoor Ratings
Glassdoor can be a good resource for learning the opinion of current and former employees. Your company’s Glassdoor rating can indicate how good the employee experience is at your company, and you can even look at reviews to gain insights into ways you could improve as an employer.
6. HR to Full-Time Equivalent (FTE)
This KPI shows how much full-time HR staff you have in comparison with the number of full-time employees. It can tell your company whether the HR department is adequately staffed for the number of employees you have.
7. Average Term
This shows you how long the average employee stays with your company. If the average term at your company is long for your industry, you are doing well. If the average term is low, you may need to work on improving employee engagement.
8. Employee Feedback
Having an employee feedback system is important for improving engagement. Furthermore, the levels of feedback can be an indicator of employee engagement. When your employees are engaged, they are more likely to use the feedback system. Track the rates of use for the feedback system and you can get an indicator of employee engagement.
9. New Hire Failure Rate
Your new hire failure rate can indicate how well your company is integrating new employees with the company. If you have a high failure rate among new employees, it is an indicator either that you are not doing a good job of integrating new employees or that you are not hiring the right people.
The rate of attrition measures retention over a specific time period. This can show your company how well it is doing at keeping the talent it has.
11. Training Effectiveness
This is a measure to indicate how well your company performs at providing employees with the skills and knowledge they need to be successful in their role. This can be measured by performing post-training interviews.
12. Employee Satisfaction Index (ESI)
The employee satisfaction index provides a measure of how satisfied your employees are. The ESI is determined using surveys that ask employees to rate how they feel about different aspects of their job and the company.
With these KPIs, you can apply a data-driven approach to maintaining and improving employee engagement. As you make efforts to address different concerns, continue to track these KPIs to measure the progress you are making.