At one time in the not-too-distant past, employees at Lloyd’s Banking Group were being asked to complete employee engagement surveys every three months or so, according to David Littlefield, the London-based bank’s group head of culture, engagement and insights.
“You can’t build an engaged workforce without affecting behavioral change,” Littlefield told attendees at a Wednesday afternoon session at HRE‘s HR Technology Conference.
Indeed. The problem with conducting such frequent surveys, however, “was that [the firm’s approximately 8,000] line managers weren’t gaining any new insights and didn’t have time to digest that much data and take action” on what the latest employee polls told them.
Thus, in 2015, HR at Lloyd’s developed and introduced its Building the Best Team Survey. Including between 60 and 65 questions overall, this new survey added more open-ended questions to the mix, “to give employees an opportunity to talk about what they like and don’t like” about their jobs, and about their roles within the organization.
The goal of adding such new queries was to gain insight into how employees felt in four areas: their satisfaction with their role in the company, their pride in their work, their likelihood to be an advocate for the organization and their intent to stay with Lloyd’s, explains Littlefield.
In addition to internal variables, outside factors can impact employee engagement as well, says Littlefield. External factors such as current economic climates and media coverage of the industry, he adds, are especially vital to perceptions of firms within the financial sector, and some questions were designed to gauge how employees’ views of Lloyd’s culture are affected by how the organization and the industry is depicted outside of the company.
Polling employees less frequently and seeking more substantial input has paid off, says Littlefield.
Currently hovering between 85 percent and 88 percent, “participation rates [for employee engagement surveys] have never been higher,” he says, adding that overall employee engagement scores have increased by 11 percentage points since 2014. Part of the reason for this rise is attributable to allowing managers to revamp employees’ roles to better match their skills and help them achieve “what they want to get out of their work,” based on responses from the annual survey.
“When we share data from engagement surveys with managers, we tell them to think about that data for a few days, and figure out how they can help employees get energized and engaged,” continues Littlefield. “We’ve found that managers don’t want to talk about the science behind engagement scores, they want insight that they can take action on.”