…Today we discuss the benefits of investing in an Intranet for your business. Inc.com writes that the single most common management mistake is failing to encourage communication between employees and staff. Communication barriers can cost companies an average of over $26,000 per year for each employee, due to time spent “waiting for information,” collaboration issues, and similar problems.
The benefits of investing in intranet can extend far beyond employee productivity and happiness. Marketing leaders can benefit from improvements to their employer brand, both from better company culture and increased employee engagement. KPMG has found that 78 percent of engaged workers would freely recommend their company’s products or services to friends and family, as opposed to just 13 percent of disengaged talent. Here are six ways your entire company, from top to bottom, could benefit from a user-friendly intranet.
1. Encourage Communication
A transparent workplace can be critical to instilling trust in employees, according to Forbes. While leadership should carefully choose the information they share with employees, consider how your intranet can allow you to communicate the following:
By encouraging a culture of digital two-way communication, managers can strive to provide a culture and forum for employees to share feedback and strengthen relationships.
2. Disseminate Information
Holmes estimates that the annual cost of miscommunication in the workplace is a staggering $37 billion, due to confusion about requirements, policies, processes, or a combination of these three factors. If your employees don’t have access to a central repository for the information they need to work successfully, it may be time to invest in an intranet that’s designed to disseminate information.
3. Drive User Adoption
Poor user adoption rates of your current technology may not be rooted in stubbornness or employee resistance to technology. The issue could be related to disorganization on your existing intranet solution or poor ease-of-use. Academic researchers from Drexel and Georgia State University have found that IT adoption can often hinge on two factors: perceived usefulness and ease-of-use. An upgrade that’s both easy-to-use and drives value for end users could help adoption rates soar.
4. Improve Retention
In a tight talent market, retention is a key concern for organizational leaders, from HR to marketing. CIO writes that “ongoing education” may play just as strong of a role in your company’s ability to hold onto employees as total compensation and happiness. If your employees feel that you’re willing to invest in their knowledge and skill sets for the future, they could be significantly less likely to jump ship to a competitor. A well-designed intranet can significantly improve access to knowledge resources and training materials that are crucial for employee learning.
5. Drive Company Culture
Culture isn’t just a concern for human resources. Data indicates that culture is a company-wide effort, but it’s something marketing should be very focused on. Marketing VP, Michelle M. Smith, writes that the equation is pretty simple. Happier employees result in happier customers, which means more profitability for your organization.
In the best case scenario, a well-designed intranet becomes a hub for education, information, and communication at all levels of the organization. From content to branding, it’s a key opportunity for your organization to reinforce your core values and other important aspects of your culture.
6. Increase Employee Engagement
Employee engagement is complex, but understanding the factors that drive positive engagement rates is critical. Per Towers Watson, primary drivers of engagement include:
If your intranet isn’t working with you to reinforce employee happiness and productivity, it may be time for an upgrade.