In a blink of an eye, we’ve witnessed an immense technological change in how we communicate, collaborate, and get things done at work. This dynamic age makes managing change inevitable, and that change has become a key source of every organization’s competitive advantage. What makes change management so difficult is often resistance – different demographics having separate expectations about how problems should be solved, collaboration conducted, and disagreements resolved. These challenges can all be resolved by budgeting a digital workspace in 2018.
This new, younger, workforce, encompassing Gen X, Millennials, and Gen Z, have new expectations about how technology must be integrated into the workplace. But make no mistake, focusing and deploying resources to improve how communication and collaboration occur can be a key driver of future success.
Let’s explore how digital workspace communication tools can bridge a technological gap and ensure your whole team stays on the same page.
Higher Productivity and Increased Purpose
Millennials and the Gen Z have grown up with social media, baring witness to a daily stream of likes, shares, and comments. It has given them a platform to be valued, listened to, and gain a sense of belonging. This has a direct impact on their expectations at work, they increasingly value the importance of feedback and interaction. This new workforce wants to understand organizational goals and see the value of their contributions towards those plans. By deploying a system that provides transparency of an organizations shared goals, each individual can see their direct impact.
Simplicity Credit Union stands as an amazing example of how a robust communications platform can drive a sense of purpose and increase productivity. Simplicity sought to get the word out about their new Signature Loans campaign without sending staff an endless volume of emails that would be ignored. They leveraged their intranet as an internal communication platform to get an organization-wide buy-in. Instead of promoting their Signature Loans campaign once at a staff meeting, it became a constant presence on their network. It became a shared mission – the topic of conversation. And by innovating on how they reinforced this program by using their intranet digital workspace, they achieved 90% of their goal within 90 days.1
Create a Better Work Environment: Engagement
By providing employees with the tools that match their expectations, organizations foster a better work environment. That immediately translates into a better employee experience and improves engagement, resulting in low turnover rates that help attract new talent. A recent Gallup report showed that employee engagement can reduce turnover by 59%, even in low-turnover organizations.2
Let’s look at the numbers: a popular rule of thumb cited by William G. Bliss, the cost of turnover is roughly 150% of an employee’s annual compensation, that figure is even higher for managerial and sales positions, ranging from 200% to 250%.3 This estimate accounts for all hidden costs including knowledge loss, recruitment costs, training expenses, lost productivity, and costs of lost sales.
By matching employees digital expectations, offering tools to offer valuable feedback, and creating an environment that promotes culture and engagement, organizations improve morale and reduce churn. When employees feel connected in a shared mission, they rise to the occasion and beat expectations. It’s also an investment in digital collaboration, providing a clear ROI for any organization seeking to improve employee engagement.
Limit Rumors and Enhance Transparency: Open Communication
Communication does not stop at 5:00 pm. It’s not a single company event or even a series of emails. It’s an ongoing effort that establishes goals and creates a shared mission for everyone. Up-to-date, open, realistic and sincere communication goes a long way toward rallying employees, encouraging collaboration and fostering teamwork.
By equipping employees with a digital workspace, organizations can ensure that they are in control of the message, that goals are articulated in real-time, and that important information is never lost under a deluge of emails. Open communication not only brings transparency but also ensures that accurate information comes from the right sources and eliminates individual interpretations, a major cause of the failure of top down communication.
Organizations need to establish fast and reliable channels to reach all employees at once. And today fast today means digital. That’s why the number one priority for organizations must be to invest in tools like digital workspace intranet that creates an open environment of communication and collaboration.
Effective communication is a pivotal force that can lead to competitive advantage through increased productivity and profitability, increased customer satisfaction, and a substantial decrease in turnover. Internal marketing through effective communication is as important as external customer marketing and is a key business function that can drive success.
We live in the digital age, and communications need to be fast, reliable and accurate. Technology can transform an organization when accompanied with a well-planned, effective strategy. Individuals responsible for the internal communication need to confidently put their ideas on the boardroom agenda. Internal Communication and Employee Engagement need to be top of the list of a company’s priority.