The problem is glaringly obvious, but the solution is elusive: employees are not engaging with their employers, and businesses are paying a heavy price.
- Companies lose $11B annually due to employee turnover
- According to Good & Co., poor cultural fit causes 89% of hiring failures
- A Kenexa study found that organizations with Top Quartile employee engagement had 2X the profit of the others
These are big numbers, and companies continue to invest in programs to fight this costly lack of engagement. But the global business environment has changed in ways that make it difficult to bring meaning and passion to your teams.
- Demographically, Millennials tend to be more focused on life outside of work
- The growing decentralization and depersonalization of physical workspace means more remote workers and more geographic separation across teams
- An increase in global business creates additional cultural and geographic boundaries that get in the way of feeling that “we’re all in this together”
Video for Engagement
One strategic tool that is gaining momentum in the battle for better engagement is video. That’s because one of the root causes of lack of engagement is distance – both physical and emotional. Video is the closest thing to being face-t0-face short of actually being there. With today’s mobile technology and easy to use interfaces, creating and consuming video can happen anywhere.
The most common use case is delivery of regular, live virtual Town Hall meetings. The CEO and other leaders are able to replicate the immediacy, passion and interactivity that used to be found in “All Hands” meetings in the lunchroom.
But there are so many other uses for video today, as can be seen by the current batch of video-forward consumer apps like SnapChat, Vine and Netflix. While both are important, having employees gain connection with their peers is arguably more important than listening to what the boss says, and video works just as powerfully to bridge time and distance there too.
With a strategic video platform in place, leading video-enabled organizations are able to use video as a utility across the company. Adding video to a new application, workflow or region becomes easily achievable, increasing agility and adoption of video across the organization.
Help your employees fill the gap in connection and meaning in today’s work work by putting them face-to-face with video.