Page 52 - Banking Finance December 2024

ARTICLE

their tasks to the organization's purpose. When they enjoyed the work with the get together and having fun
understand how their work contributes to the bigger games and turned a difficult situation into an
picture, they feel more engaged. A positive work culture unforgettable experience for entire team.
is essential for employee engagement. Banks can achieve
this by promoting a sense of teamwork, collaboration, 8. Strategic Action Plans: Develop action plans specifically
and respect among employees. This can be done through designed to energize your workplace and cultivate a
team-building activities, promoting a diverse and inclusive thriving company culture. These plans may include a
workplace, and encouraging a healthy work-life balance. combination of initiatives, incentives, and
A positive work culture not only improves employee communication strategies. Create groups that support
engagement but also attracts top talent to the various employee interests and identities, fostering a
organization. Southwest Airlines has mastered employee sense of belonging and community. Increase mentorship
engagement. They have developed a great work programs to help employees grow professionally and
atmosphere for all of their employees. One way they personally. Remember that successful employee
exhibit this is by enabling select employees to make engagement programs vary based on the organization's
decisions about aspects of their jobs, such as creating unique context and workforce. These strategies may be
their uniforms in each department and providing them customized to fit the organization culture and the
autonomy over their work life and career. specific needs of employees.

6. Invest in technology and tools: In today's digital age, Improving employee engagement in the banking sector
employees expect to have access to the latest requires a combination of factors, including open
technology and tools to perform their jobs efficiently. communication, growth opportunities, recognition and
Banks can improve employee engagement by investing rewards, work-life balance, a positive work culture,
in modern technology and tools that make their work investment in technology, and employee wellness. By
easier and more efficient. This not only increases implementing these strategies, banks can create a more
employee satisfaction but also shows that the engaged and motivated workforce, leading to improved
organization values its employees and is willing to invest productivity, customer satisfaction, and overall success for
in their success. the organization. Employee engagement is very important
for any organization, including the banking sector, as it
7. Encourage employee wellness: Employee wellness is directly impacts the overall performance and success of the
crucial in improving engagement and productivity. company. Improved employee engagement has several
Banks can offer wellness programs such as gym benefits for the banking sector, which can ultimately lead
memberships, mental health support, stress to better customer satisfaction and profitability.
management workshops and healthy snacks in the
workplace. Organize team-building events, workshops, Firstly, improved employee engagement can result in higher
and social gatherings. Stronger relationships among levels of productivity and efficiency. When employees are
colleagues improve job satisfaction. This not only shows engaged and motivated, they are more likely to be focused
that the organization cares about its employees' well- and dedicated to their work, leading to higher output and
being but also leads to a healthier and more engaged better quality of services provided to customers. This can
workforce. Yousician is a Finnish interactive and also lead to a decrease in employee turnover, as engaged
instructional music service that helps users learn and employees are more likely to stay in their jobs and
play musical instruments. When the company found out contribute to the organization's success in the long run.
that their Helsinki office would be undergoing a one-
month makeover, they came up with a creative solution. Secondly, engaged employees are more likely to be satisfied
As office space in Finland was too expensive for a month, with their jobs, resulting in increased job satisfaction and
CEO rented a full villa in Greece and flew the entire overall well-being. This can have a positive impact on the
company, along with their families for one month. They work culture and create a harmonious work environment,

46 | 2024 | DECEMBER | BANKING FINANCE