Business to All

In a recently published report to Government entitled “Engaging for success: enhancing performance through employee engagement” The Rt Hon Lord Mandelson, Secretary of State for Business, Innovation and Skills said “Only organisations that truly engage and inspire their employees produce world class levels of innovation, productivity and performance.”

The report takes an in-depth look at employee engagement and reports on its potential benefits for companies, organisations and individual employees. It goes on to say that business and organisations function best when they make their employees’ commitment, potential, creativity and capability central to their operation. Clearly, having enough cash, and a sensible strategy, are vital. But how people behave at work can make the crucial difference between business and operational success or failure.

Gallup in 2006 examined 23,910 business units and compared top quartile and bottom quartile financial performance with engagement scores. They found that: Those with engagement scores in the bottom quartile averaged 31 – 51 per cent more employee turnover, 51 per cent more inventory shrinkage and 62 per cent more accidents. Those with engagement scores in the top quartile averaged 12 per cent higher customer advocacy, 18 per cent higher productivity and 12 per cent higher profitability.

Engagement is two way: organisations must work to engage the employee, who in turn has a choice about the level of engagement to offer the employer. Each reinforces the other.

There are so many new and innovative ways to inspire and engage the internal audience, from social media to experiential marketing. Developments in areas such as digital theatre and content sharing are creating a revolution in the B2C market that producers of internal events simply cannot ignore.

These new methods of engagement are not just for consumers; it's high time that corporate companies started treating their internal and business audiences as consumers, and building more immersive and engaging 'business brand experiences'.

The recent credit crunch has acted as a catalyst for change across all sectors and now is the perfect time for businesses to readdress the way they communicate with their internal and external audiences. Lord Mandelson confirms this: “ A recession might seem an unusual time for such reflection – in fact, the opposite is the case. Because Britain’s economic recovery and its competitive strengths in a global economy will be built on strong, innovative companies and confident employees, there has never been a more important time to think about employee engagement in Britain.”

Businesses have a duty now more than ever to demonstrate how their business values match those of their prospects, in addition to reassuring their existing clients and employees. We are seeing more and more brands embracing the use of social media and digital platforms to share, measure, and amplify their events and marketing strategy. There is such a wealth of technology available that empowers businesses with the tools to create memorable experiences - for clients, prospects and staff alike.

Experiential techniques, once the exclusive property of the B2C marketing department, are now transcending into the corporate world and are being used to engage prospects and staff. The economic climate has forced a move away from big budget spending on one medium; as a result businesses are looking for new ways to interact with their target demographic.

Businesses are under pressure to engage prospects and sustain a healthy bottom line, and it is difficult to generate stand out and cut through in an increasingly cluttered and saturated market place. And with reports that distrust in big companies, whether as supplier, client or employee, is at an all time low, it is more important than ever for corporates to try and engage on a more personal level. It is high time that brands and institutions started to treat their internal audiences as consumers in their own right and look to turn these people into fans of the brand.