A lack of staff engagement is costing Hunter businesses millions of dollars, but there are simple solutions to turn the problem around says the new Hunter based owner of a national data-driven people and culture transformation firm.
Business improvement expert, Lenore Miller, has purchased iedex. Lenore said Hunter businesses now have better access to insight into local data via survey, staff performance and development platforms, and other workforce productivity strategies from a locally owned organisation.
She said iedex helps businesses by drilling into problems that prevent a team achieving all they can, and detailing strategic action to address this.
Lenore said reports such as the recently issued 2017 Deloitte Global Human Capital Trends report shows that, with technology advancing at an unprecedented rate, organisations need to rewrite the rules on engaging and managing staff in this digital age.
She said other surveys, such as the US 2015 Gallup Survey, show that while the majority of organisations have employee engagement initiatives, only one-third believe their employees are engaged, which is in line with how employees rate their engagement at work.
Gallup estimates that actively disengaged employees cost the U.S. between $450billion to $550billion each year in lost productivity. She said the Australian experience is observed to be similar to the US, however a limited number of studies have been undertaken to quantify this.
“Poor staff engagement translates into disengaged customers, safety issues, absenteeism and ultimately poorer business performance,” Lenore said.
“Reclaiming just one hour of productivity each week, for each staff member will make a significant improvement to the bottom line.
“Many businesses capture data about their workforce through surveys and similar tools, but fail to effectively analyse and interrogate that data to generate insight. This significantly erodes the value proposition of these activities.
“One of iedex’s strengths is that all data is stored on Australian servers and all of its software development, survey execution, and data analysis is completed by an experienced Australian based team.
“We turn data into strategic actions that give firms a competitive edge to help them grow.”
One way that iedex plans to help the ability of local businesses to position themselves for the future is by running a Future Readiness Study and developing a Best Practice Guide. Organisations are being encouraged to participate in the study and have the option to receive a customised report based on their responses, including recommendations.
A small number of organisations will be selected at the conclusion of the study to participate in a pilot program implementing a new Best Practice Model.
Lenore said many organisations need to change culture and move their HR department from being a cost centre to a profit driver.
IMAGE | Lenore Miller has purchased iedex and is helping businesses to position themselves for the future.
The iedex group of companies was founded in 1996 after recognising the need to support strategy with online diagnostics that provided organisations with powerful methods to assess capability and culture.
As a boutique consultancy, "iedex" specialises in developing strategy for businesses operating in sectors of the economy undergoing transformation. Our consultancy services include strategic, business and workforce planning, organisational development and performance measurement.