The top 5 mistakes that could derail your social business strategy
Building a social business is an excellent step toward increasing employee engagement, which can ultimately boost your company's performance and profits. However, you have to do it strategically to get the most bang for your buck. In fact, many organizations run into trouble with traditional social strategies and even social workplace resources because they fail to lay the right foundation. Getting on track doesn't have to be overly complicated, but it requires a bit more planning than simply purchasing a program and letting it roll.
Here are a few of the common blunders companies make that can prevent them from enjoying the high ROI potential that a leading social business strategy can promise:
- Lack of measurement. You can't assess your ROI if you don't have metrics to compare. That's why it's critical to measure key performance indicators both before and after you implement an engagement program. These metrics can include factors such as worker engagement, turnover, absenteeism, customer retention, productivity, workplace safety and profits. A robust engagement platform like TemboStatus to measure and act on the results is a good start.
- Standalone or hard-to-access programs. Your adoption levels will be low if social resources aren't easily integrated into your workers' day-to-day routines. If your employees frequently use smartphones and tablets for professional purposes, make sure your platforms are available on mobile devices. Additionally, integrating your solutions with existing enterprise applications, such as Jive, SharePoint or Office 365 Intranet environments, can boost participation.
Discover the impressive results that New Relic found once integrating its social recognition program into the Intranet.
- Complacency. One of the risks associated with social workplace programs, according to Gartner research, is that they sometimes inspire "false positives" and "inauthentic kudos," which can mislead both employees and managers about performance. Social strategies must be designed correctly and implemented in the correct manner to reduce these inaccuracies.
- Isolation of certain groups. Similarly, peer recognition and other tactics that highlight co-worker dynamics can isolate particular groups of workers, rather than bringing everyone together as they should. Leaders might need to pay attention to whether new hires, for example, feel excluded or less important because they haven't received the same number of badges or acknowledgements as their colleagues. Adjusting rewards with experience in mind and encouraging partnerships between newer and more senior workers could prove helpful.
- Cultural unpreparedness. Companies that are disappointed with their social business results often failed to lay the right foundation before implementing their software. Gartner predicted that 80 percent of social business efforts in the next year will fall short because of "inadequate leadership and an overemphasis on technology." The right corporate culture involves active, engaged leadership as well as a workplace that encourages collaboration and positive co-worker dynamics.
Of course, the greatest risk may be failing to implement any social business solution at all. Executives talk a lot about assessing ROI for projects like employee engagement, but they should first consider the "RONI" - or risk of not investing. TemboSocial can help you analyze what you have to gain and put you on the right track with a strategic approach.