Implementing an effective intranet system in your business not only means you’ll be more efficient but has a real effect on your bottom line. Here’s how…
1. Improved employee engagement
Only 10% of employees in Western Europe are engaged at work according to a Gallup survey. This startling figure demonstrates an urgent need for companies to develop an engaging employee environment.
Engagement should begin before a new team member even steps foot through the front door and an efficient HR intranet with training materials and new employee documentation can mean the difference between a fully engaged employee who hits the ground running and a slow, painful start. The financial benefit of more productive staff with greater expertise is significant, aside from the obvious team morale benefits; and a decrease in staff turnover results in a direct recruitment cost saving.
Engaged workers are also safer workers, with the average cost of a safety incident for an unengaged employee at over 520% higher than that of an engaged employee. Critical if you work in an industry where health & safety factors can make or break you.
So how does this translate to the bottom line? ’A five-point increase in employee engagement is linked to a three-point increase in revenue growth in the subsequent year.’ In addition, businesses in the top quartile of Gallup’s employee engagement database are 21% more profitable than those in the bottom quartile. Convinced yet?
2. Improved communication
A business with 100 employees spends an average downtime of 17 hours per week clarifying communication. Improved communication can directly impact morale and intranet tools such as news forums, videos, polls and even quizzes can also help shape a company’s culture and employee experience. This, in turn, all increases staff retention.
Mobile experiences and apps also allow non-desk-based workers the opportunity to feel a part of the team and support them in their roles, through increased access to information, other team members and push notifications for essential updates.
3. Improved collaboration & company culture
Connected teams are 20%-25% more efficient Remote working is becoming the norm and as more businesses see the benefits of flexible working arrangements for their staff, their technology and processes need to keep up.
Team directories support staff to find the right colleagues with relevant skill sets to collaborate on projects and forums and other news feeds allow everyone to stay up to date easily and without the ‘noise’ of email traffic.
4. Increased productivity
An average worker spends 28% of their time (or a shocking 13 hours!) managing email and 70% of workers usually react to receiving an email within six seconds, distracting them from more productive tasks.
Consolidation of standard business processes, whether from an HR or general project management perspective, translates into cost savings via streamlined systems or time efficiencies in using a single source of information. If every employee saved just five minutes per day searching for information they need to do their job, a business could save thousands of pounds each year.
5. Secure knowledge management
Escape email and version control hell! Enjoy instant access to documents and messaging to discuss projects. View key information at a glance and ensure compliance through document tracking. Monitor progress and resolve issues quickly. Even simple and often overlooked costs such as print supplies, maintenance and storage space for hard copy documents can mount up.
Difficulty keeping up with technological change to provide solutions for internal collaboration and being slow to respond to staff requirements are common underlying themes in research around lack of employee engagement. These factors can also have profound effects on productivity and the financial implications are clear. Some would say it is a ‘corporate’ problem but even – and in some cases especially – SMEs can benefit from changes in this area.
Find out how an intranet can benefit your business
How is your company responding and is it time for you to consider the benefits an intranet could provide? Get the Unitii team to call you at a time that’s convenient for you. Or call us on 01225 614 814
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