Enterprises across the globe are adapting to social business platforms to bring in the concept of working through distributed access, flexibility of work, instant sharing and remaining connected. This in turn, contributes to employee engagement, team work and employee productivity. Research papers and corporate reports have evidence on increase in employee productivity, employee morale and employee retention with use of social business platforms. The increase in sales and revenue, propagated from employee productivity is the icing of the cake.
Employee productivity, company profitability and employee retention are the driving wheels to grow the organization and conquer new heights. Real time collaboration and communication can steer growth as stated in McKinsey Global report statistics:
- 12 % higher company profitability
- 18% higher employee productivity
- 51% lower employee turnover are the prominent benefits of employee engagement with cloud collaboration tools
On the other hand,
- Replacing an employee costs as much as 150% of the position’s salary in training and recruiting, which can cause huge financial and productivity drain for the company ( Report by Allegiance on employee retention solutions)
- A Gallup study estimates that 22 million actively disengaged employees cost American economy as much as $350 billion dollars per year.
What will you do when you are working in social business platform?
Instead of switching back and forth between multiple tools, a unifying platform will let you improve your work productivity by allowing you to:
- Communicate and work with co-workers
- Discuss and gain insights
- Share updates and social feeds
- Track and manage project progress
- Interact & resolve situations
- Upload and share files
- Managing files and activities
- Relieving time and effort from e-mails and inbox
How social business platforms help your business?
- Synchronizing and streamlining work
Knowledge workers spend 28 hours each week by writing e-mails, searching for information and collaborating internally. This implies an approximate 5 hours of unproductive work per day. (McKinsey Global Report)
Streamlining work and storing files securely cuts down time in toggling and finding them at spread out systems and drives. The same report states possibility of 20-25% potential improvement through substantial collaboration and communication with social enterprise platform.
- Real time collaboration
Real time collaboration on various projects among internal employees increases productivity. It empowers teams to collaborate and communicate and finish the task ahead of time and devoid of errors. 1saleday, an e-commerce industry based in Miami reported an increase in productivity after adoption of social collaboration platform for their enterprise. Instant communication among employees present in dispersed locations alleviates problems arising due to late communication and misinterpretation.
- Employee motivation and happiness:
Engaged employees are 43% more productive and more likely to promote the business
Performance, job satisfaction, and work productivity resonate well with comfort, ease and flexibility provided to the employees. When it is an effort on remaining connected, real time connection, remaining continuously “plug in” are the choices of majority of employees off the work schedule. Embedding the same at work, will augment comfort of employees while they work, which will result in improved performance. This is what cloud based business platforms offer i.e. boost employee morale and encourage retention.
The most powerful benefits of social business platforms are still untapped to the full potential. Leading businesses have explored the benefits of social platform for their enterprises and have manifested positive outcomes. Organizations work tirelessly on the innovation in tools and technology to dominate markets, grow customers and gather information on their services or products. Yet promising solution lies in leveraging social tools to communicate, collaborate and share.