Boosting Employee Engagement: Here’s How Talent Formula Hit 7% Above Industry Benchmark

Our focus is on the best talent that is the right fit for your business, which is much more than a simple one off recruitment transaction. That’s why one of the metrics for success that we measure is employee engagement, which measures how enthusiastic and dedicated your team members are to work in your business. The more engaged, the happier they are at work, and in turn, this increases productivity, gives you higher retention rates and you’ll be able to foster a loyal working culture. 

As an employer of choice in India we’re thrilled with the results of our latest team engagement survey from February 2023. Here are some of the results from our survey as well as how we are constantly striving for improvement.

The Results Are In…

We had an 89% participation rate in the survey showing a willingness and openness to providing feedback which is very important to us. When it came to our overall engagement rates, we are just as pleased to report that we scored 86% which is 7% higher than the average industry standard. 

When looking at the breakdown, in the 15 engagement areas that we were assessed in, we scored on or above industry benchmarks. Here you can see how we scored across the board: 

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So, how do we do it? Here are some of the ways we have been successful in boosting employee engagement:

5 Ways We Boost Employee Engagement at Talent Formula

1. Constantly Strive to Improve

Engagement is a continuous and evolving process so it’s important to look at ways to improve as circumstances change. COVID, for example, meant being more accommodating for our team, keeping them safe, and operating more flexible working hours, which has continued post-COVID for our business model. 

It’s also making sure people don’t stagnate and have opportunities to progress through things like our secondment programs which are open for all business units and member firm clients, as well as Visa sponsorships for talent. 

2. Accountability

It’s one thing to say you want to achieve or improve things in your business, it’s another to hold yourself accountable for it. We hold monthly leadership meetings, as well as strategic planning meetings to make sure we share our short and long-term strategic goals so that everyone is on the same page.

We then hold ourselves accountable to these goals with many people engaged in contributing to their success. That’s why our collaboration value is so important to us.

3. Robust Recruitment Process

When we find and place talent, we use a six-stage process that focuses on the technical and personal attributes of the person. It’s this process that allows us to successfully find the right talent for your business, and the job-fit analysis ensures we have successful probation rates of 95%.

4. A Holistic Approach

Engagement is more than the day-to-day workload; your team are people and that means catering to their needs as human beings as well as  ‘workers’. At Talent Formula, this takes the form of social engagements, team building, strong values that are people-centric, and ensuring there is a focus on wellbeing for a complete holistic approach.

5. Listen to Feedback

Actually, listen. Create a culture in your business where people aren’t afraid to speak up, as well as offer ideas and feedback. This not only boosts engagement but makes your business more diverse and innovative.

Employee engagement is a crucial element that is often missing in traditional outsourcing models, and why our talent-as-a-service is so successful! And we are very proud of our participation and engagement rates with our talent. 

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