Today’s younger workforce, encompassing Gen X, Millennials, and Gen Z, have new expectations about how to integrate technology into the workplace.
Having grown up with social media, bearing witness to a daily stream of likes, shares, and comments has given them a platform to be valued, listened to, and given a sense of belonging. This has impacted our work lives as well.
As employees, we want comprehensible goals, coherent plans for getting there, and confidence in the value of our contributions toward those goals. We want to feel valued, listened to, and part of the team.
A recent global survey of 26,000 LinkedIn members, taken by the research firm Imperative, found that 73% of respondents want a career in which they feel their job matters. Put simply, employees today are looking for “purpose.”
Internal communications is the central pillar of an engaged organization and essential to drive purpose. By deploying a system that provides transparency of an organization’s shared goals, each individual can see their direct impact.
Here are some benefits of driving purpose through effective internal communication.
1. Higher productivity
Simplicity Credit Union in Marshfield, Wis., stands as an amazing example of how a robust communications platform can drive a sense of purpose and increase productivity. Simplicity sought to get the word out about its new signature loans campaign without sending staff an endless volume of emails that would be ignored.
They leveraged their intranet as an internal communication platform to get organization-wide buy in. Instead of promoting their signature loans campaign once at a staff meeting, it became a constant presence on their network. It became a shared mission–the topic of conversation. And by innovating on how they reinforced this program by using their intranet, they achieved 90% of their goal within 90 days.
2. Engagement and reduced turnover
The cost of turnover is roughly 150% of an employee’s annual compensation, according to consultant William G. Bliss. That figure is even higher for managerial and sales positions, ranging from 200% to 250%. This estimate accounts for all hidden costs, including knowledge loss, recruitment costs, training expenses, lost productivity, and the cost of lost sales.
By providing tools to offer valuable feedback and creating an environment that promotes culture and engagement, organizations improve morale and reduce churn. When employees feel connected in a shared mission, they rise to the occasion and beat expectations.
It’s also an investment in digital collaboration, providing a clear ROI for any organization seeking to improve employee engagement.
3. Open communication & transparency
Communication does not stop at 5 p.m. It’s not a single company event or even a series of emails. It’s an ongoing effort that establishes goals and creates a shared mission for everyone.
Up-to-date, open, realistic, and sincere communication goes a long way toward rallying employees, encouraging collaboration, and fostering teamwork.
Organizations need to establish fast and reliable channels to reach all employees at once. That’s why the top priority for organizations must be to invest in tools like the modern-day intranet that creates an open environment of communication and collaboration.
By equipping employees with a digital workspace, organizations can ensure they are in control of the message, that goals are articulated in real-time, and that important information is never lost under a deluge of emails.
We live in the digital age, and communications need to be fast, reliable and accurate. Technology can transform an organization when accompanied with a well-planned, effective strategy.
But make no mistake: Deploying resources to improve how communication and collaboration occur in a digital workplace can be a key driver of future success. Individuals responsible for the internal communication need to confidently put their ideas on the boardroom agenda.
Companies need to put internal communication and employee engagement on the top of their list of priorities.
The OnSemble Employee Intranet team at Passageways has been inspiring and enabling credit unions to perform better together since 2003. We do that by delivering a remarkable collaborative experience by leveraging technology, talent, and insightful analytics. Our enterprise-grade intranet solution, OnSemble, makes work easy by bringing together the tools and support your organization needs to collaborate and share together.