We’re in the midst of an employee engagement emergency. 70% of American employees aren’t working to their full potential, costing the United States $450 to $550 billion in productivity every year.
Ineffective corporate communication is the primary cause of this crisis. Leadership is failing to effectively communicate goals and objectives, causing employees to become dissatisfied and disengaged. According to the Dale Carnegie Institute, $11b is lost annually due to employee turnover.
For 90% of business leaders, an employee engagement strategy is a great way to increase a company’s success, but in reality, only 12% have an engagement strategy of any kind. The biggest roadblocks for leadership teams to build engagement are budget and bandwidth.
How much does it cost to broadcast your meeting, and how many resources will it require?
Staying on message with social tools
Live video is fast becoming the most popular, and accessible, corporate communications tool. The barrier to entry is low, and the decreasing cost of encoding equipment works for budgets of every size.
Live video makes it possible to effectively communicate with employees, wherever they are in the world.
Everyone can be in the same room, sharing the same experience, and hearing the same message. Everyone can feel included and have the opportunity to contribute to the discussion. Nothing is lost in translation, and all employees are on the same page.These meetings foster a culture of participation and stay true to our ethos of operating as one team. Click To Tweet
At Livestream, communication tools are an integral part of how we stay engaged.
Every employee can digitally share their thoughts in these meetings, and ask about the issues that are most important to them. These meetings foster a culture of participation and stay true to our ethos of operating as one team.
Giving everyone an avenue to ask important questions and align strategies is incredibly valuable, but in order to unite your organization, you’ll need the right tools.
Case study: Spotify’s global messaging solution
When Spotify announced their new global parental leave policy to employees, they decided on a town-hall style presentation in New York City.
They wanted every employee to hear the exciting news at the same time, but with offices around the world, they needed to find a solution that relayed the news to every employee simultaneously.
Spotify enlisted the Livestream Productions team to broadcast the town hall to their global network of offices. Livestream Productions worked on-site in New York City and Stockholm, fighting tight deadlines and providing a high-quality video experience for more than 1,500 Spotify employees in 18 countries.
The broadcast was a success, facilitating a world-class employee experience and, consequently, increasing employee engagement.
Making meetings accessible to the entire company increases transparency and trust between leadership and employees. Trust and transparency are the keys to a good employee experience, and the rest is history. If live streaming enters the picture, employees around the world will be more engaged, and we will have an exponentially happier workforce.
Learn more about how Livestream helps companies like Tesla and Spotify:
- Create a world-class employee experience
- Improve employee engagement
- Increase productivity
- Meet deadlines
- Increase employee retention
This guest blog post was contributed by Caroline Golum, Branded Content Editor at Livestream.