Employee engagement helps boost performance and loyalty. It also aids in achieving improved operational efficiency by increasing productivity. Using the following key metrics can provide guidelines and benchmarks for more effective and better analysis.
Employee Net Promoter Score (NPS)
The NPS helps evaluate the levels of loyalty and satisfaction of employees towards the company. The answers are taken from respondents through a simple question, “How likely are you to recommend working at the company to a colleague to a friend?” Answers are taken on a scale of 0 to 10. Respondents answering between scale 0 to 6 are considered detractors, while respondents between 9 to 10 are considered promoters. Anyone between 7 and 8 is regarded as passive.
When the number of Promoters is deducted from the number of Detractors and the total is divided by Total Respondents, you get Employee NPS.
Employee Turnover Rate and Absenteeism
Turnover rate and absenteeism provide valuable insights into an employee’s overall experience in the workplace. It determines the organisation’s capability to retain the best talents. According to market studies, companies should aim to achieve an employee turnover rate of 10% or less annually.
The rate of absenteeism is another key metric that helps determine employee engagement.
Sentiment Analysis & Employee Behaviour
The use of pulse surveys or dipsticks can help you keep a track of employee behaviour and sentiments. This aids in evaluating the company’s mood and people’s approach towards it.
Internal Promotion Rate
Another key factor driving employee engagement is the scope for professional growth and development within the organisation. This indicates the significance of the Internal Promotion Rate that is measured as a percentage of the Total Number of Promoted Employees against the Total Number of Employees.
Employee performance management & evaluations and continuous learning & development are some factors that can help improve internal promotion rate as well as boost employee engagement.
Employee Satisfaction Index
This indicator helps organisations to evaluate the association between employee satisfaction and customer experience – both are directly proportional to each other. An employee is assessed based on several questions and a scale of 1 to 10. A higher score indicates higher employee satisfaction. PeopleCentral is an all-in-one HR platform that provides intuitive tools to measure employee engagement and satisfaction. Empower your employees with an improved work experience.