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How Volatility Impacts Employee Engagement

Today’s employee experience looks a lot different than it did a year ago, given the fundamental shifts in the workplace due to Covid-19. As such, companies can’t expect engagement rates to remain the same, even as the economy begins to stabilize and the pandemic ultimately subsides. But there are still ways to decrease the volatility, improve engagement and increase employees’ intent to stay as conditions approve.

Renewed focus on engagement

Employee engagement has long been a concern for employers, even before the pandemic. According to research from Gallup, only 34% of employees in the US are engaged at work. And that was from 2019 before any of us had any idea a pandemic was coming.

Given all the uncertainty, the sudden influx of remote work, the ongoing stress, and the pressures employees face as they balance work and home life like never before, employee engagement is more volatile than ever. Although Gallup’s engagement rate has fluctuated wildly over the past year, the fact remains – a vast majority of employees are either “actively disengaged” or “not engaged” at work. That means most employees are either actively looking for or are open to new opportunities and won’t hesitate to leave their companies when their departure may be felt the most.

Improve engagement in the pandemic and beyond

So how can you mitigate this volatility and ensure employees want to remain with your company long after the pandemic passes? As with so many things, it comes down to communications. At a time when employees may feel more isolated than ever, being able to bridge those gaps and make them feel included and part of the team is essential. While virtual happy hours and regular check-ins can certainly help, they can only take you so far.

Also essential is being able to address employee questions and concerns about work, life and how the company can support them in everything in between. Do they know where to go for help if they or a family member are struggling with depression? What if they need advice on changing their 401(k)?

Having to jump through hoops, wait for a response or be presented with complex answers to the many questions that can pop up each day will do little to improve engagement at this critical time. Instead, providing a way for employees to get all the insights they need in real-time and in the languages they understand can help increase that engagement and build trust between them and the company.

Achieving Employee Awesome

Socrates.ai makes this easy, leveraging artificial intelligence and your current systems and information to address employee questions and issues instantly, ensuring they have the information they need as soon as possible. If you can prove that you’re there for your employees in this most challenging time, think how much more likely they will be to stay when conditions improve.