A guide to enhancing employee engagement in the banking sector

Regardless of the type of industry, employee engagement is an indispensable tool that enhances employee motivation to perform better than ever. The banking sector is no exception. However, many banks misunderstand employee engagement to be only concerned with giving monetary benefits to their employees. Not to mention, employee engagement is much more than that.

Increasing engagement in the workplace is the way to ensure that employees are happy, satisfied and willing to work for the organization. It involves looking out for their professional as well as personal well-being. This not only ensures highly motivated employees but also leads to achieving business goals efficiently and driving the organization forward.

However, increasing employee engagement might be a challenge in the banking sector due to the monotonous nature of jobs. This affects the working environment, performance as well as the quality of customer service in banks.

To avoid the adverse outcomes of disengagement in the banking sector, we have discussed ways in which employee engagement can be improved. This includes conducting fun activities, bringing transparency in processes, giving reskilling opportunities, using employee engagement software, etc. Let’s understand these in detail:

  • Proactively upskilling

In any sector, employee engagement is characterized by various factors, among which providing employees with the opportunity to learn and grow is the most significant one. For this, leaders must understand and analyse the need for skill training and what skills are within the scope of the individual employees. Banks need to make sure that they invest in productive reskilling resources and design learning objectives that are aligned with the organisational strategy.

  • Conducting engagement activities

Another way to enhance engagement in banks is to allow employees to participate in team events, activities, and other wellness programs. This will not only instil a sense of fellowship among the employees but also help them to take a break from the daily, repetitive tasks that they perform. In addition, it gives them a chance to interact with each other and build healthy relationships as colleagues. These activities can be some community events, outside visits, team-building activities, etc.

  • Sustain a thriving culture

The culture in the workplace impacts the productivity and engagement of the employees. This applies to the banking sector as well. Management must aim to establish a culture that reflects that banks prioritise development, growth, and workplace experience. Moreover, managers should keep in mind that employees value a purpose-driven culture. Thus, it is important for banks to communicate their values and create a culture to reflect the same.

  • Using employee engagement software

In order to streamline the process of enhancing engagement, using the right employee engagement platform can be truly beneficial. For instance, banks can implement a trusted solution like entomo to gain control over factors that affect workplace experience. It will help to manage performance tracking, transform engagement, and redefine talent development opportunities.

Conclusion

Employee disengagement at the workplace is recognized as the major reason for increased employee resignations, irrespective of industry or type of business. As a matter of fact bank employees even need a higher level of engagement at work to stay productive. This is so because the regular job responsibilities of most employees generally involve addressing and resolving customers’ requests or concerns. Thus, to ensure efficiency at work, they require more engagement compared to employees in other industries.

Following the above-discussed pointers will help managers to create an engaging work environment and reap the benefits in terms of increased productivity and customer satisfaction.

entomo is a people experience platform built for the digital world of work. Powering 30mn+ users across organizations world-wide, entomo unleashes digital experiences that transform engagement, performance and talent development using hyper personalized insights and nudges. entomo’s clients include Global fortune 500 and large enterprises and Governments across Asia and MEA. entomo is also voted as a leader in G2 software marketplace across multiple categories. To know more, visit https://entomo.co/request-demo/


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