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8/11/2019 Retrain or Drain
1/13
Retin or Drin:
The A.R.T. of EninEmployees
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8/11/2019 Retrain or Drain
2/13
Lets tlk bout indictors.We measure the health of our economy through unemployment rates and job
numbers both of which continue to march toward rosier pre-recession levels.
But what about the future health of your company? It rests on your employee
retention rates and their productivity. As job opportunities abound and the
economy picks up steam, how will you keep them from underperforming,
pursuing new jobs and walking out the door?
Employees are arguably every companys most valuable asset. So its no
surprise that human capital creativity, innovation, customer service skills, or
whatever it may be correlates directly to actual capital. Talent is expensive to
attract, but even pricier to replace. Based on figures from the U.S. Bureau of
Labor Statistics, thecost of replacing an employeeis $57,968. This figure is
flanked by another retention statistic put out by theSociety of Human Resource
Management a 10% reduction in employee turnover is worth more to the
company than a 10% increase in sales.
Its obvious that investing in employee engagement improves organizations
bottom lines. When talented, engaged employees perform better, customers
reap the rewards of a better product or service and overall experience. Happy
customers=happy employees. The good news is, once you create an
atmosphere where employee engagement exists, the talent will multiply.
Satisfied, productive employees will refer cohorts, and talented candidates willseek out your organization because of your superior workplace culture.
How do you know if your employees are engaged? An employee feedback
program is necessary to measure your staffs satisfaction, productivity and
overall engagement. If you do it right and your employees trust that their
anonymity is protected, youll gain a firsthand look into what motivates them,
what impedes their growth and how to make their experience a positive one.
This is your chance to be a fly on the wall at the water cooler, in the break roomor at happy hour. Learn how to implement an employee feedback program that
will help engage your employees today!
-10%reduction in employee turnover
+10%increase in sales
is worth more to a company than
Retain or Drain: The A.R.T. of Engaging Employees | 2
http://smallbusiness.uprinting.com/the-high-cost-new-hires/http://smallbusiness.uprinting.com/the-high-cost-new-hires/http://smallbusiness.uprinting.com/the-high-cost-new-hires/http://www.shrm.org/Pages/default.aspxhttp://www.shrm.org/Pages/default.aspxhttp://www.shrm.org/Pages/default.aspxhttp://www.shrm.org/Pages/default.aspxhttp://www.shrm.org/Pages/default.aspxhttp://www.shrm.org/Pages/default.aspxhttp://smallbusiness.uprinting.com/the-high-cost-new-hires/ -
8/11/2019 Retrain or Drain
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Listen to the voiceof your employees.It will make them feel valued and will ultimately
make your organization more profitable. According to
a recent study by AON Hewitt & Mercer,50% of
employees characterize themselves as passively
engaged or actively disengaged. Furthermore, one
disengaged employee can drain $10,000 from your
companys bottom line annually. Now multiply those
figures over the size of your staff and youll start to
realize why creating a workplace culture that fosters
continuous feedback is essential. Unfortunately,
these circumstances are not uncommon.A recentpoll by Gallupemphasized how disengaged
employees act as a major drain nationally. The polling
company estimates, as a whole, disengaged workers
cost the U.S. a staggering $550 billion in economic
activity each year.
Productivity aside, without a proper feedback
program in place, a staff with a perpetual case of the
Mondays isnt your only problem. Disconnectiondoes not inspire loyalty.The Deloitte Talent Edge
2020 reported that,on average, two out of every
three disengaged employees are considering leaving
their current jobs. And, as evidenced by the statistics
above, their quest for greener pastures isnt cheap.
The Drin
Without a proper feedbck
prorm in plce, stff with
perpetual cse of the Mondys
isnt your only problem.
disengaged employees cost the US
$550 Billionin economic activity each year
Retain or Drain: The A.R.T. of Engaging Employees | 3
http://www.aon.com/attachments/engagement_2%200_oct2010.pdfhttp://www.aon.com/attachments/engagement_2%200_oct2010.pdfhttp://businessjournal.gallup.com/content/162953/tackle-employees-stagnating-engagement.aspxhttp://businessjournal.gallup.com/content/162953/tackle-employees-stagnating-engagement.aspxhttp://businessjournal.gallup.com/content/162953/tackle-employees-stagnating-engagement.aspxhttp://businessjournal.gallup.com/content/162953/tackle-employees-stagnating-engagement.aspxhttp://www.fastcompany.com/1812705/talent-paradox-despite-high-unemployment-two-thirds-your-employees-are-ready-bailhttp://www.fastcompany.com/1812705/talent-paradox-despite-high-unemployment-two-thirds-your-employees-are-ready-bailhttp://www.fastcompany.com/1812705/talent-paradox-despite-high-unemployment-two-thirds-your-employees-are-ready-bailhttp://www.fastcompany.com/1812705/talent-paradox-despite-high-unemployment-two-thirds-your-employees-are-ready-bailhttp://www.fastcompany.com/1812705/talent-paradox-despite-high-unemployment-two-thirds-your-employees-are-ready-bailhttp://www.fastcompany.com/1812705/talent-paradox-despite-high-unemployment-two-thirds-your-employees-are-ready-bailhttp://businessjournal.gallup.com/content/162953/tackle-employees-stagnating-engagement.aspxhttp://businessjournal.gallup.com/content/162953/tackle-employees-stagnating-engagement.aspxhttp://www.aon.com/attachments/engagement_2%200_oct2010.pdf -
8/11/2019 Retrain or Drain
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No matter what product or service your organization provides, every member
of your staff affects the final result, which, in turn, affects your customers
experiences. Even if your customer service team is the only department that
directly interacts with your customers, they arent the only employees who
will impact your brand. Think about it: An information technology departmentslow to alleviate glitches will hinder office productivity; a lack of innovation in
research and development will spawn inferior products; and frontline sales
representatives without energy will fall short of their quotas.
Delivering an excellent customer experience pays off. When happy
employees make customers happy, its reflected in revenues. According to a
study by Aberdeen Group,a 14.4% year-over-year improvement in customer
satisfaction amounted to an 87% customer retention rate and a 28.3%
improvement in annual revenue. Conversely, a 7.5% year-over-year decline incustomer satisfaction resulted in a 20% customer retention rate and a loss of
0.2% in annual revenue.
In todays hyper-social marketplace, the wrath of a displeased customer can
compound quickly. Sites like Facebook and Twitter provide an outlet for
customers to vent to their vast networks of friends and family, while review
forums like Yelp and Reputation.com allow anyone to become an insta-critic.
If your customers feel slighted, the powerful tools at their disposal can do
irreparable damage to your brand.
The best way to protect your brand and ensure a valuable customer
experience is to address the root problem: employee engagement. If
employees feel neglected and undervalued at the office, customers will
feel the effects. Remember, it all boils down to this:
Your Customers
will Thnk You
When hppy employees
mke customers hppy,
its reflected in revenues
Hppy employees = hppy customers
Retain or Drain: The A.R.T. of Engaging Employees | 4
Tweet this!
14.4%YoY improvement in
customer satisfactio
=87%customerretention rate
&improvement inannual revenue
28.3%28.3%
7.5% YoY decline incustomer satisfactio
=20%customerretention rate
&loss in annualrevenue
0.2%
http://www.cvent.com/en/pdf/aberdeen-report-2012-voice-of-the-customer.pdfhttps://twitter.com/intent/tweet?text=%22When+happy+employees+make+customers+happy,+it%27s+reflected+in+revenues%22+-+%40cventsurvey+http://bit.ly/1chmbtihttps://twitter.com/intent/tweet?text=%22When+happy+employees+make+customers+happy,+it%27s+reflected+in+revenues%22+-+%40cventsurvey+http://bit.ly/1chmbtihttps://twitter.com/intent/tweet?text=%22When+happy+employees+make+customers+happy,+it%27s+reflected+in+revenues%22+-+%40cventsurvey+http://bit.ly/1chmbtihttps://twitter.com/intent/tweet?text=%22When+happy+employees+make+customers+happy,+it%27s+reflected+in+revenues%22+-+%40cventsurvey+http://bit.ly/1chmbtihttps://twitter.com/intent/tweet?text=%22When+happy+employees+make+customers+happy,+it%27s+reflected+in+revenues%22+-+%40cventsurvey+http://bit.ly/1chmbtihttp://www.cvent.com/en/pdf/aberdeen-report-2012-voice-of-the-customer.pdf -
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The A.R.T. of Employee
Feedbck PrormsOk, so youre convinced that giving your employees a voice is a necessary step
toward retaining them and empowering them to do great work. Now its time
to find out how to engage them through an employee feedback program. But,
be warned, implementing it is an A.R.T. Its all about Awareness, Relevancy
and, most importantly, Trust. To accurately pinpoint key drivers affectingemployee engagement levels, your employees must feel a sense of anonymity
and that their opinions matter. Although you might be eager to begin polling
the collective mood around the office, doing it successfully requires foresight.
Read on for the cornerstones of an effective employee feedback program.
Retain or Drain: The A.R.T. of Engaging Employees | 5
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AwrenessLaunching a successful employee survey depends on
creating awareness on two levels. And theyre both
equally important. The first phase of awareness has to
come from the C-suite. Senior management needs to
buy into the program. While some executives
experience trepidation upon facing some potentially
unsettling realities about their staff, establishing goals
for the survey and tying them directly to goals for
improving retention rates and productivity should quell
their concerns. Not only does management need to sign
off on the project, they should promote participation
among the staff. When employees hear management
touting the benefits of participating, theyll feel like their
feedback has the power to affect actual change.Awareness begins with a top-down approach.
In addition to getting general buy-in from senior
leadership, an employee feedback program needs a
champion. This person accepts responsibility for moving
the program along. The champion dedicates time and
resources into seeing the program through each stage
from creation to insight-based action.
The second level of awareness exists on the employee
level. In order to garner the response rates you want,
you have to spread the word. An email notification with
a brief explanation and a link to the survey is an easy
way to jump-start participation. After you send out the
initial email, the right software should give you the
autonomy to send out reminders to non-respondents
based on an automated time schedule. However, dont
rely solely on email reminders. Take advantage of staff
meetings, intranet postings and the company
newsletter to explain the impetus behind the surveys
and why participation is important. Flyers in high traffic
areas like kitchens, lobbies, elevators or even bathrooms
also help to keep the survey top of mind.
Timing is a critical piece of the awareness puzzle as well.
You need to be mindful of your employees time
constraints and workflow, specifically when it comes to
establishing survey send times and deadlines. Typically,
sending out surveys mid-week during the middle of the
day drives up participation rates, but it could vary
depending on when employees receive the highest
volume of emails. If youre concerned the survey will getburied regardless of send time, set aside a specific
company-wide time for everyone to complete it. Avoid
sending the survey during major organizational
milestones acquisitions, mergers, end of financial
quarters and busy seasons eschew average satisfaction
levels and dont leave employees with enough time to
devote to completing the task.
In ddition to ettin enerl buy-in
from senior ledership, n employee
feedbck prorm needs chmpion.
Retain or Drain: The A.R.T. of Engaging Employees |
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RelevncyYour employee survey will only provide actionable insights if you ask theright
questions.If your questions are too generic, you can expect generic responses.
And if your survey is irrelevant, employees may become aggravated answering
questions that arent applicable to their role in the organization. Functional survey
software should give you the capability to utilize a range of question formats that fit
each question type. Depending on the kind of data you want to capture, youll need
to use different formats like multiple choice questions for demographic information,
the Likert scale for satisfaction levels and text boxes for open-ended questions.
Dont forget to employ logic and direct respondents to skip to certain questions
based on their responses. This ensures employees wont have to sift through
questions only to check the box that reads N/A.
A relevant survey is also a diverse survey. Your employees satisfaction levels are
tied to more than a paycheck, and their day-to-day job functions arent mutually
exclusive from the environment they carry them out in. Therefore, the best
employee satisfaction surveys ask for emotional and functional feedback. Emotional
questions about workplace culture, coworkers and professional development likely
carry as much weight as functional questions about job responsibilities, salary and
benefits. However, even though there are a seemingly infinite amount of questions
you could ask employees, too many questions will overwhelm them. When surveys
take too long to complete, people tend to fill them out haphazardly by the end or
abandon them before completion. Avoid survey fatigue by setting specific goals for
the survey. With a clear focus on the type of information you aim to gather, you will
be able to contain the length of the survey. If you have numerous topics you wishto collect feedback on, create multiple shorter surveys and distribute them
throughout the year instead of in one unmanageable, unfocused survey.
The biggest return on investment comes from employee feedback programs that
ask the right questions. Dont shy away from asking relevant questions because
you might solicit negative responses its the negative feedback that will help you
learn most about your employees wants and needs.
The secret to extracting honesty from employees, even if its negative, dependson your ability to clear one last hurdle: trust.
A relevnt survey
is diverse survey
Retain or Drain: The A.R.T. of Engaging Employees |
http://survey.cvent.com/blog/cvent-web-surveys-blog/presentations?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/cvent-web-surveys-blog/presentations?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/cvent-web-surveys-blog/presentations?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/cvent-web-surveys-blog/presentations?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/cvent-web-surveys-blog/presentations?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/cvent-web-surveys-blog/presentations?i_cid=70100000000RdPIAA0 -
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TrustIts time to build trust in your employees. Remember, asking employees to
disclose their critiques and closely held opinions is a big deal. If they fear candor
comes with repercussions, they will shy away from honesty. Diluted answers
and faux praise is the equivalent of survey lip service it may feel good, but it
wont help create lasting solutions. Surveys are for empowering employees, not
for making them feel like a witch hunt is underway.
The most effective way to establish trust is to ensure anonymity. When
employees know their responses cant be tracked back to them, they feel more
comfortable revealing the truth. Protect staff anonymity by using survey
technology with the capability to give results without giving up identities.
Additionally, be careful not to ask any unique identifiers. For example, if there
is only one male on staff, its best to nix the gender question.
Despite attempts to assert survey anonymity, employees may still remain
skeptical of revealing their true feelings. In this case, its worth considering
using a third party. Bringing in an outside group to help design the survey,
manage the distribution list, send email reminders and run data analysis reports
can ensure you are getting the most comprehensive results from your
employee feedback program.
Another way to build trust is to continuously collect employee feedback.
Reoccurring surveys demonstrate your commitment to making changes and
measuring how they affect the staff. Conducting only one obligatory employeesurvey a year wont be viewed as a serious attempt at understanding workplace
satisfaction levels.
Employee feedback programs rest on trust. Be up front, be transparent and
let your staff know they can trust you.
Set your survey up for success by treating it like an A.R.T. Once you have taken
steps to raise awareness, ensure relevancy and build trust, you have laid the
foundation for engaging your employees.
Reoccurrin surveys
demonstrte your
commitment to
mkin chnes nd
mesurin how they
ffect the stff.
Retain or Drain: The A.R.T. of Engaging Employees |
Tweet this!
https://twitter.com/intent/tweet?text=%22Reoccurring%20surveys%20demonstrate%20your%20commitment%20to%20making%20changes%20and%20measuring%20how%20they%20affect%20the%20staff.%22+http://bit.ly/1chmbti%22https://twitter.com/intent/tweet?text=%22Reoccurring%20surveys%20demonstrate%20your%20commitment%20to%20making%20changes%20and%20measuring%20how%20they%20affect%20the%20staff.%22+http://bit.ly/1chmbti%22https://twitter.com/intent/tweet?text=%22Reoccurring%20surveys%20demonstrate%20your%20commitment%20to%20making%20changes%20and%20measuring%20how%20they%20affect%20the%20staff.%22+http://bit.ly/1chmbti%22https://twitter.com/intent/tweet?text=%22Reoccurring%20surveys%20demonstrate%20your%20commitment%20to%20making%20changes%20and%20measuring%20how%20they%20affect%20the%20staff.%22+http://bit.ly/1chmbti%22https://twitter.com/intent/tweet?text=%22Reoccurring%20surveys%20demonstrate%20your%20commitment%20to%20making%20changes%20and%20measuring%20how%20they%20affect%20the%20staff.%22+http://bit.ly/1chmbti%22https://twitter.com/intent/tweet?text=%22Reoccurring%20surveys%20demonstrate%20your%20commitment%20to%20making%20changes%20and%20measuring%20how%20they%20affect%20the%20staff.%22+http://bit.ly/1chmbti%22https://twitter.com/intent/tweet?text=%22Reoccurring%20surveys%20demonstrate%20your%20commitment%20to%20making%20changes%20and%20measuring%20how%20they%20affect%20the%20staff.%22+http://bit.ly/1chmbti%22https://twitter.com/intent/tweet?text=%22Reoccurring%20surveys%20demonstrate%20your%20commitment%20to%20making%20changes%20and%20measuring%20how%20they%20affect%20the%20staff.%22+http://bit.ly/1chmbti%22 -
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Question
Types &Dt
Anlysis
Once employees finishthe survey, the mostimportnt prt isnlyzin the dt.Survey tools with online analysis and reporting features
make this process less arduous. Your survey should
contain at least four major types of questions for optima
data analysis.
The first question type necessary to the data analysis
process is theLikert Scale.Usually these questions are
formatted using the following five-point scale:
1. Stronly disree
2. Disree
3. Neutrl
4. Aree
5. Stronly ree
This scale will measure your employees level of
agreement with various statements as well as the
intensity of their feelings. For example, if your
statement reads, I am happy with the companys time
off policy, the Likert Scale will let you know how
powerfully your employees agree or disagree. Analyzing
these results involves adding the points and dividing the
sum by the number of respondents to find the average
satisfaction level.
Retain or Drain: The A.R.T. of Engaging Employees | 9
http://survey.cvent.com/blog/customer-insights-2/do-we-agree?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/customer-insights-2/do-we-agree?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/customer-insights-2/do-we-agree?i_cid=70100000000RdPIAA0 -
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The second type of question necessary to aid data analysis is an
open-ended question.Asking open-ended questions gives respondents
the chance to explain exactly why they way they feel the way they do.
Their comments provide qualitative insights that a scale or multiple-choice
question cant capture. In addition to reading through responses and
mining them for compelling answers and reoccurring themes, advanced
survey software can help you gain more value from large volumes of
open-ended questions with text analysis features. Text analysis tools help
structure the data by identifying word trends and separating positive and
negative feedback.
The next question measures yournet promoter score,commonly referred
to as NPS. Similar to the customer loyalty metric, employee NPS works in
much of the same way. Its used to calculate the staffs overall loyalty to
the company. The score, typically based on a 0-10 scale, asks the following
question, How likely are you to recommend working at Company X to a
friend? You can calculate the score by subtracting the number of
detractors (those who answer 0-6) from the number of promoters (those
who answer 9-10). Remember to follow up this question by asking
respondents why they chose the number they did. It will help you identify
whats affecting loyalty levels around the office.
Finally, to compare satisfaction levels across various segments of your
staff, youll need to ask respondents demographic information like how
long theyve worked for the company and what department they work in.With this information, you can compare results by segment using cross
tabulation statistics. This measures the correlation between two metrics.
For example, does your accounting department indicate its very satisfied
with office hours, but your customer service department says its
dissatisfied? Cross tabulating different attributes helps highlight disparities
between specific employee groups. Look for reoccurring trends and focus
on categories that show overwhelming consensus or dramatic differences
between segments.
Delving into survey data and analyzing results is a necessary step in the
employee feedback process. Before you can take action, you must make
sure youre working to adjust the right things. If you doubt whether or not
you have the time and resources to undertake a comprehensive analysis,
look into web survey software with a support team that will handle
the reporting.
Retain or Drain: The A.R.T. of Engaging Employees | 1
Employee Net Promoter
Score: How likely re yoto recommend workin
Compny X to friend?
http://survey.cvent.com/blog/customer-insights-2/maximizing-value-in-open-ended-questions?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/customer-insights-2/maximizing-value-in-open-ended-questions?i_cid=70100000000RdPIAA0https://www.cvent.com/en/web-survey-software/net-promoter-score.shtml?i_cid=70100000000RdPIAA0https://www.cvent.com/en/web-survey-software/net-promoter-score.shtml?i_cid=70100000000RdPIAA0https://www.cvent.com/en/web-survey-software/net-promoter-score.shtml?i_cid=70100000000RdPIAA0https://www.cvent.com/en/web-survey-software/net-promoter-score.shtml?i_cid=70100000000RdPIAA0http://survey.cvent.com/blog/customer-insights-2/maximizing-value-in-open-ended-questions?i_cid=70100000000RdPIAA0 -
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Actin on Insihts
A mjor pitfll when itcomes to fledlin employeefeedbck prorms is lckof follow-up.Data has a tendency to become inert thrown by the
wayside because no plan was put in place to process it and
no one owns the follow up. Employees will notice their
feedback was not taken seriously, creating the opposite of
the desired effect. Instead of engaging employees, a lack of
follow through will further disengage them.
Prevent launching an employee program thats potentially
damaging to staff morale by resolving to do something with
the results. Have a plan. Before the launch, decide who is
going to take ownership of the program and start to draft
goals. The first survey will provide solid insights to take
action on. From there you can take steps to remedy the
major impediments to employee satisfaction. While you
wont be able to address every issue voiced by the staff
members, acknowledging you heard them and taking small
steps to fix some of the problems shows employees they
matter. Be as transparent as possible. Make the survey
results available to everyone in the office. This makes itclear youre not trying to hide a reoccurring theme in the
data. Even if its an issue you cant change, addressing it
and explaining why the organization cant change it, shows
employees that their voice was heard.
Once youve begun to make organizational
adjustments, its important to continue to collect
feedback from employees on a consistent basis.
Use repetition as your yardstick for progress. Track
how employee satisfaction levels evolve over time
and tie your goals into retention rates and
productivity levels. The most comprehensive
employee feedback programs also compare insight
from customer feedback programs. Over time, you
should be able to monitor how trends in employee
satisfaction and loyalty levels affect trends in
customer data like loyalty, satisfaction and overall
revenue. Its the best way to see your investment
in employee engagement pay off.
Retain or Drain: The A.R.T. of Engaging Employees | 1
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Evolvin Relities
The relity is, in todys knowlede-bsed economy, orniztions reconstntly competin to ttrct ndretin top tlent.Their ability to do so affects how well they perform in the marketplace. Tangible
benefits like pay, vacation time and employee perks are often mirrored by
companies across like industries. This means its the intangible benefits that
make the difference. Whether your employees are motivated by growth
prospects, recognition for a job well done, professional development
opportunities or office culture quirks like dress code, you wont know until
you ask for their feedback.
Underestimating the true benefits of a great workplace is costly. It will cost
your organization in lost resources and missed opportunities. Consider the
latest Fortune 100 statistic in 2012, a fund of publicly traded companies in the
Fortune 100 Best Companies to Work For list performed three times as well as
all other companies on the S&P 500 stock index. Its simple: Happy employees
work harder, look for ways to exceed expectations, treat customers better and
ultimately make your organization more profitable.
Remember, the voice of your employees is an invaluable tool, so start listening
to them before someone else does!
Retain or Drain: The A.R.T. of Engaging Employees | 12
http://www.fastcompany.com/3006150/proof-profits-americas-happiest-companies-also-fare-best-financiallyhttp://www.fastcompany.com/3006150/proof-profits-americas-happiest-companies-also-fare-best-financiallyhttp://www.fastcompany.com/3006150/proof-profits-americas-happiest-companies-also-fare-best-financially -
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www.cvent.com | 866.318.4358
Self-AssessmentHow does your employee engagement program stack up?
Take ourEmployee Feedback Assessmentto evaluate your
current efforts, and based on how youre doing well follow
up with tips, best practices and strategies for improving
future surveys at your organization.
Tke Assessment
Cvent is an industry leader in Enterprise Feedback Management and
works with organizations around the globe to help them collect
feedback from their various constituents i.e. customers, employees,
partners, etc. With Cvent's web survey software, organizations can
streamline the way they collect feedback and timely business
intelligence. Professionals use Cvent's web survey software to
measure employee satisfaction, enhance company culture, test
markets, qualify leads, evaluate program effectiveness, and gauge
stakeholder opinions.The web survey solution provides organizations
with survey management, data collection and the reporting tools
needed to get the most out of the organization's budget and staff.
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