This write-up gives a clear insight into how redefining employee survey at each stage of their important lifecycle can be of advantage to the HR Analytics team and overall organization. I usually call these employee satisfaction and engagement survey data as Goldmine data for HR Analytics.
Most organization depend solely on the annual employee survey and they wait for an entire year to know the peak actionable. HR Analytics team works with the limited data set for their prediction and other analytics due to unavailability of granular level data since such surveys are conducted by third-party.
I will begin by differentiating between ‘Employee Satisfaction’ and ‘Engagement’ as many a time there are misconceptions that they both are the same.
- Employee Satisfaction: This measures the employees’ contentment with current job and work conditions which are different from how much effort they are willing to put on either to meet or exceed the goals.
- Employee Engagement: This measures the employee’s self-commitment, how far or at what extent they can go to achieve the goal set by the organization.
It is a well-known fact that Employee Satisfaction leads to Employee Commitment, Employee Commitment leads to Employee Engagement and Employee Engagement turns into Business profitability. Agreed?Furthermore, according to Corporate Executive Board the 10:9 rule states that every 10% improvement in commitment decreases an employee’s probability of departure by 9% while the 10:6:2 rule states that every 10% improvement in commitment increases employee’s effort by 6% and every 6% increase in effort increases employee’s performance by 2%
In addition, Gallup (2012) said that only 30% of employees are engaged at work and Only 45% are satisfied with their job according to the result of the survey conducted by the Conference Board in 2010