The Rea Report Summer 2018 | Page 8

IMPROVE C O M M U N I C AT I O N S Research shows that the largest driver of employee engagement is effective com- munication between employers and their supervisors. Employees must feel a sense of connection to your company’s vision and purpose, they must feel like their efforts mean something, and they must feel like they have a voice. Unfortunately, about 25 percent of the rev- enue you’re working so hard to capture could be slipping right through your fingers – a loss that could be easily prevented if you were to make an effort to engage in di- rect, open, consistent and intentional com- munication with your team. Rea’s Communication Journey In Rea’s 2016 Employee Satisfaction Survey, the firm asked employees to point out what was working and areas for improvement. The results indicated that in the area of internal communications, we could do better. So a NextGen leadership team set to work to develop a well- researched solution. Their findings revealed that internal communication is directly to related to employee engagement, which is directly tied to customer satisfaction and profitability. After presenting the case, NextGen re- ceived a green light to hire an internal communications specialist. Soon thereaf- ter, I was hired to fill this role and to fa- cilitate communication from the top-down, bottom-up and across different groups in the firm. Improving communication is essential to unite the firm’s offices and regions, ensure we are all rowing in the same direction, give everyone a voice and ultimately develop better leaders and communicators. To build our internal communications program from scratch, I focused on areas that would make an immediate impact, including: • Eliminating random firm-wide emails and replacing them with “weekly roundup” emails that go out every Friday. Employ- ees know to pay attention to these emails for important updates and action items. • Starting a monthly video series with our CEO to help team members get to INTERNAL COMMUNICATIONS WHY EMPLOYEE ENGAGEMENT MATTERS 7/10 87% 68% 8 FACT: 7 out of 10 employees are disengaged WHAT IT COSTS: Disengaged employees cost companies 20-25% of revenue each year FACT: Disengaged employees are 87% more likely to leave an organization than those who are engaged WHAT IT COSTS: When someone leaves, the cost to replace them is 1.5 to 2 times their salary FACT: 68 percent of employees experience difficulty communicating between team members WHAT IT COSTS: 40 percent of the work week is lost to communication inefficiencies