15 innovative employee engagement ideas for Australian workplaces in 2024
Boost engagement in 2024 with these 15 innovative strategies tailored for Australian workplaces.
As the economy stagnates, particularly in sectors like finance, insurance, and professional services, businesses are feeling the pressure to do more with less. Budgets are tightening, uncertainty is growing, and many organisations are focusing on short-term survival rather than long-term growth. However, during economic downturns, one thing becomes even more essential: checking in with your customers and employees.
At Insync, we’re seeing the impact of the economic downturn in these sectors. While it’s tempting to cut back on initiatives that don’t seem directly tied to the bottom line, such as customer and employee experience initiatives, this is exactly when they matter most. In times of economic strain, businesses simply can’t afford to lose their most valuable assets — their customers and their employees.
In challenging times, attrition becomes even more costly. Losing a key client or employee not only creates gaps in revenue or talent but also adds significant costs in terms of finding replacements. During a period of sluggish growth, where resources are limited, the focus needs to be on retaining those you already have.
For customers:
During economic downturns, your customers are likely reassessing their needs and relationships with vendors. Checking in with them—understanding their shifting priorities, pain points, and concerns—allows you to demonstrate value and adapt to their needs. In fact, showing that you care about their feedback during tough times can deepen loyalty and set you apart from competitors.
For employees:
Your employees are also feeling the weight of economic uncertainty. Concerns over job security and increased pressure to do more with fewer resources can lead to disengagement or burnout. Regular check-ins with your employees show that their wellbeing is a priority, helping maintain morale and productivity. Engaged employees are less likely to leave, which reduces the risk of attrition at a time when replacing talent can be difficult.
Checking in is about genuinely understanding what your customers and employees need and responding to those needs in meaningful ways. This can be achieved through various methods, including:
Investing time to check in on customers and employees during a downturn can be one of the most cost-effective strategies for your business. It enables you to understand potential risks and address dissatisfaction before it leads to lost relationships.
In a softening economy, businesses must remain agile and responsive to the needs of their most important stakeholders. Regularly checking in with your customers and employees can give you the insights you need to navigate uncertainty, retain key relationships, and position your business for success.
At Insync, we offer tailored solutions to help you connect effectively with your customers and employees. We provide a structured approach to gathering feedback and taking meaningful action. From employee engagement programs to customer experience insights, our solutions help you stay connected when it matters most.
With access to benchmarked industry data, Insync can offer invaluable context to your feedback. By comparing your results with industry trends, we provide insights that help you understand where you stand relative to competitors and identify areas where your business can improve. Our benchmark data spans key industries, ensuring that you’re not only responding to your feedback but also positioning your organisation in line with industry best practices, making sure you’re keeping pace even in challenging times.
Get in touch with us today to learn more about how we can help you check in with your customers and employees and create actionable strategies for success.
Tony has an outstanding record as a business leader within dynamic organisations, having worked closely with some of the APAC region’s premier brands (VISA, CBA, Westpac, Qantas, QBE, Lion and Bauer Media).
As the leader of Insync’s Commercial Practice, he is responsible for transforming customer and employee experience to underpin business performance. He has extensive commercial experience in the financial services, retail and travel sectors. Tony has a particular interest in strategic thinking and problem solving, and is passionate about working collaboratively with clients to drive organisational success.
Boost engagement in 2024 with these 15 innovative strategies tailored for Australian workplaces.
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