One of the main fundamental concepts of an organisation is employee engagement and the effort to understand and describe, both quantitatively and qualitatively, the type of relationship between the organisation and its employees. Employee engagement is a “workplace approach” designed to ensure:
– That employees are committed to their organisation’s goals and values.
– They are motivated to contribute to organisational success.
– They are able, at the same time, to enhance their own sense of wellbeing.
As it stands today, the three key things we know about employee engagement are that it is measurable, can be identified differently across different levels of an organisation and engagement can be correlated with performance.
It has been highlighted by many authors that work engagement has become an important factor to determine an organisations outcome and is strongly associated with organisational success. With an engaged workforce, holds many beneficial factors with a protentional to enhance the competitive edge required in today’s financial economy. Through high levels of employee engagement adds value, although low levels of engagement can have a damaging effort on the bottom line of an organisation.
In today’s employment, most adults spend a significant amount of time working. Therefore the way they feel about their work can have a significant impact on their life and well-being. By being able to provide a positive and suitable environment for an individual to work comfortably, positivity increases the way in which an individual views their working environment. It is important to keep a working environment positive as it increase employee motivation and engagement.
It has been underlined that engaged employees are more hands-on, dedicated to maintaining a quality performance standard, responsibility for their own growth and are more involved with their jobs then ever before. Using and adapting every skill and capability they hold to enhance and fulfil multiple roles in business. As well as being happier, healthier and more fulfilled, engaged employees are motivated to deliver improved business performance. However, this is dependent on the way in in which employees are managed and their attitude towards work its self. By creating a positive relationship between employee and employer it is evidenced in profit, revenue growth, customer satisfaction, productivity, innovation, staff retention, efficiency and health and safety performance. With this in mind, a positive working environment means, efficient and engaged employees.
Although you may have already known a positive working environment increases engagement, it has come to light by the Guardian and ONS, that only a third of the UK employees say they are actively engaged at work, with another 64% state they have more skills and talent to offer then they are currently asked and required to demonstrate within their job role. With these statistics in mind, engagement can always be create simply by providing employees intrinsic and extrinsic rewards or incentives.
What is intrinsic and extrinsic rewards?
Intrinsic and extrinsic rewards are two different way to reward an individual that share different views on what motivates them to work. Intrinsic rewards are suited for individuals that are motivated within their work. Someone who is working on their own satisfaction and may value challenging work they perceive to be meaningful to the organisations. Intrinsic rewards are also seen to be a health and sustainable source of motivation for employees. This underlines that individuals are less likely to ‘burnout’ of this form of motivation and experience more positive feelings on their job. However, despite the benefits that stream from intrinsic rewards, managers underestimate the importance of intrinsic rewards, continuing to believe that the key motivation tool is financial treats (extrinsic rewards). In contrast to intrinsic rewards, extrinsic rewards are the tangible rewards given to employees by managers like, pay rises, bonuses and benefits. The reason to why they are called intrinsic reward is because they are external to the work itself.