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It's Time To Rethink about 'Employee Engagement'

By Siddharth Reddy, Managing Director, BI WORLDWIDE
Wednesday, March 18, 2015
By Siddharth Reddy, Managing Director, BI WORLDWIDE
Founded in 1950, BI WORLDWIDE is a provider of Customer Loyalty Programs, channel & sales incentive programs, and employee rewards and recognition programs.

The world is changing in every sense. The corporate world is undergoing a massive transition. Traditional hierarchies are being replaced by meritocracies and corporate culture is becoming secondary to business culture and norms. On a macro level the GDP is declining in advanced economies and increasing in emerging markets, signifying significant shifts in the global marketplace over the next ten years. By 2016, it is predicted that this gap will be even wider, with more than 52percent of the GDP coming from developing economies and emerging markets.

With these changes, the organizations are also adopting a more transparent and digital mindset and are putting in place carefully crafted strategies to manage their resources. Gearing up for the talent war is now a priority and organizations should be better prepared to add dependent employees who will set the agenda for the companies rather than vice versa. Companies are seeing value in an engaged team,the best way to stand out from their competitors.

At present, globally only 40 percent of the workforce is engaged and it is imperative that a comprehensive engagement strategy is designed to combat the fatigue in the remaining 60percent. This is because on an average between 70 – 84percent of employees are hunting job. With the dawn of the new-year there are few trends we can expect in the employee engagement space:

  • Millennials Invade: Millennials (those in their 20s and early 30s) make up roughly 36percent of the workforce. By 2025, that number will climb to 75percent

  • Going Global: Any workforce is now worldwide. Behaviors need to be changed to address global teams and maintain culture across all continents

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