Employee Engagement in Banking Industry
In
the dynamic business world, employees are used to create competitive advantage
by the companies due to uniqueness of skills, experiences and competencies (Bhatnagar,
2007). The concepts related to people management now changed to human resource
management due to the importance of employees for the organizations (William
and Benjamin, 2008). That is why concepts like employee engagement has an
important role to play in regards to the performance of both individuals and organizations
specially in the industries where there are people driven services like
banking.
Employee
Engagement
Employee
engagement is a term which is used to refer the strength of emotional and
mental connection of employees towards the work and job (Robinson et al., 2004).
When there is high employee engagement, they are committed to the work and the organization
to achieve the best results and it is also indicated by how passionate the
employees are about their jobs (Lockwood, 2007).That is why Truss et al. (2006)
define the employee engagement as ‘passion for work’. Since employees are
considered as important resources to the organizations, the concepts like
employee engagement is being practiced in many workplaces due to its
importance.
Theories
and Models Related to Employee Engagement
According
to Kahn (1992), there are three dimensions of employee engagement such as
physical engagement, cognitive engagement and emotional engagement. The main
idea of Kahn’s theory is that organizations need to ensure that employees are
fully engaged under the given three aspects in order to achieve expected
performances and productivity.
There
is a model presented by Armstrong (2010) called IES model of employee
engagement. According to this model, employee engagement contains three
overlying elements called commitment, motivation and organizational citizenship
behavior.
Figure
1: IES Model of employee engagement
Source: Armstrong (2014)
There
is another model presented by Hewitt (2017) related to employee engagement
which indicate how emotional and intellectual state of employees stimulate the
employees to gain efficiency to operate in optimum level. Employees are
required to have three main behaviors called as ‘Say, Stay and Strive’ in order
to get engaged.
Figure
2: Aon Hewitt’s Employee Engagement Model
Source:
Hewitt (2017)
Employee
engagement is something which achieves by changing behaviors, attitudes and
perceptions of the individuals as it is an inner feeling which connects to
emotional and behavioral aspects to perform better (Scarborough, 2008). That is
why employee engagement is key function in HRM in banking sector. For an example,
I work for a leading private bank and its implemented employee engagement
initiatives in digital platforms in order to maintain the morale of the
employees in the given conditions.
References
Armstrong, M.
(2010). Evidence-based reward management. London: Kogan Page
Bhatnagar, J. (2007). Talent
management strategy of employee engagement in Indian ITES employees: key to
retention, Employment Relations, 29(6), 640‐663.
Hewitt, A. (2017). 2017
Trends in Global Employee Engagement: Global anxiety erodes employee engagement
gains. London.
Kahn, W. (1992). To Be
Fully There: Psychological Presence at Work. Human Relations,
45(4), pp.321-349.
Lockwood, N.R. (2007).
Leveraging employee engagement for competitive advantage: HR’s strategic role, Society
for Human Resource Management Quarterly, ¼.
Robinson, D. Perryman,
S. and Hayday S. (2004). The Drivers of Employee Engagement, Report 408,
Institute for Employment Studies.
Scarborough, M. (2008).
Rules of Engagement: used correctly, technology can help keep customers
satisfied and loyal, Community Banker, 17(9), 20.
Truss, C., Soane, E.,
Edwards, C., Wisdom, K., Croll, A. and Burnett, J. (2006). Working Life:
Employee Attitudes and Engagement 2006. London, CIPD.
William, H. M. and
Benjamin, S. (2008) The Meaning of Employee Engagement. Industrial and
Organizational Psychology, 01, p.4.
Agreed on your comment, Also Employees are generally considered as the most important resource needed for an organization to achieve its main goals. Realization of goals achievement heavily depends on the extent to which these employees are engaged in their jobs and their organization. Employee engagement is a factor that contributes positively to employee productivity and then organizational effectiveness. It reveals that a conceptual confusion exists with regard to the meaning of employee engagement owing to that the concept has been defined by different scholars in different ways and also that there are several associated terms such as job satisfaction, job involvement, work involvement, organizational commitment and organizational citizenship behavior which have been used in the literature, either synonymously or non-synonymously. Further a question arises to decide whether employee engagement is an attitude or a behavior (Armstrong, 2010).
ReplyDeleteYes agreed. Also Mohammed A., et., el. (2017) says in banking sector employee engagement is more weight to learning and development.
DeleteEmployee engagement refers to the relationship that exists between the employer and the employee in order for them to operate effectively and efficiently together. To strengthen the relationship between employer and employee, an employer should stimulate and properly steer the employee toward the organization's ultimate aims (Seijts and Crim, 2006).
ReplyDeleteYes and in other hand Amritha G. and Mariammal M. (2012) says employee engagement depends on organization culture, work environment, relationship with other.
DeleteAs per the Swatee S. and Srivastava R. K. Employee engagement is path to more profits, productive and enjoy working and continue to stay in company.
ReplyDeleteAgreed with you Sumeera. According to Baumruk( 2004), Employee engagement can be defined as an emotional & intellectual commitment to the association. Employees who are engaged with their organization, always deliver more than what they get back from.
ReplyDeleteYes samuddhi, Shuck and Wollard (2009) defined employee engagement as a new employment context that describes a positive relationship – both emotional and
Deletecognitive – by an employee towards the output of their organization.
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ReplyDeleteAgreed with you. Johnson and Johnson defines employee engagement as ‘the degree to which employees are satisfied with their jobs, feel valued, and experience collaboration and trust. Engaged employees will stay with the company longer and continually find smarter, more effective ways to add value to the organization.
ReplyDeleteYes and according to Albrecht (2012) He argued that when employee provided with open and supportive clear autonomy to his background and career development will ensure engagement to his jobs clearly aligned with organizational goals
DeleteAgree with your views. Adding to your points further For example, work by Saks (2006: 613)revealed that engagement levels are predicted by perceived support granted to employees by the organization and that measures of engagement themselves predict levels of job satisfaction, commitment measures, intentions to quit, and positive behaviors within the organization
ReplyDeleteAgreed and employee engagement in that commitment is conceptualized as positive attachment and willingness to exert
Deleteenergy for success of the organization, feeling proud of being a member of that organization. Macey and Schneider (2008).
Agreed Sumeera,
ReplyDeleteEmployee engagement is seen as a motivational factor towards organization’s achieving its objectives. The good environment that is offered to the worker enables him to offer the best that the organization needs for its achievement of goals and objectives (Paluku, 2016).
Agreed and Solomon and Sandhya (2010) also stated employee engagement on organizational performance indicators or business outcomes such as profitability, customer satisfaction, company growth, productivity and others pointing out its benefits and importance to organizations.
DeleteYes Agree sumeera, engaged employees help to increase productivity of an organization/s and also, Commitment of an employee is very important to make employee an engaged employee in the organization (Sarangi & Nayak, 2016).
ReplyDeleteGreat Post! Every organization realizes the fact that high employee engagement drives greater success and higher profitability. SOS conducts some fabulous Online employee engagement activities for employees to bring your remote team closer.
ReplyDelete