NEW YORK, Oct. 9, 2013 /PRNewswire/ -- Three leading firms in human capital management – The Conference Board, Deloitte, and Sirota – have joined forces to launch a unique, global research community of practice, The Engagement Institute™.
Through research studies and active member participation, The Engagement Institute™ will guide leaders to gain a deeper understanding of employee engagement drivers, thereby helping executives address their most pressing and vexing engagement challenges. Institute members will work together to shape the thinking and, in turn, advance the global understanding of employee engagement, its application, and its impact on performance.
There is clear evidence that high levels of employee engagement are strongly correlated to several positive organizational outcomes including increased retention, customer loyalty, innovation, and financial performance. As outlined in the book The Enthusiastic Employee: How Companies Profit by Giving Workers What They Want, Sirota's research revealed that the year-end share prices of companies with high employee morale outperformed similar companies in their same industries by greater than 3.5 to 1, or 368 percent. While it's important, engagement is an elusive goal. Employee Engagement: What Works Now, a recent report by The Conference Board, suggests that only an enterprise-wide approach to engagement with active leaders at all levels will deliver the culture of engagement that drives business results.
"Employee engagement challenges have only intensified in recent years, with unprecedented levels of economic uncertainty, the emergence of a new generation in the workforce, and heightened global competition," said David Dye, a director in Deloitte Consulting LLP's Human Capital practice.
"What makes The Engagement InstituteTM different from other groups," said Rebecca Ray, Senior Vice President of Human Capital at The Conference Board, "is that our members set the agenda. Through their direction and input, our experts and practitioners research critical employee engagement concepts, foster collaboration among members, and provide ideas that help solve business-related employee engagement challenges."
"We are still welcoming new member organizations," said Ray. "It's not too late to join such organizations as Johnson & Johnson, Microsoft, General Mills, Colgate Palmolive, First Data, Electronic Arts, Hilton, Intuit, Standard Chartered Bank, The Mayo Clinic, Sun Trust Bank, The Gap, Citgo Petroleum, A.P. Moller Maersk, Lincoln Financial, U.S. Department of Veterans Affairs, The Coca-Cola Company, eBay, Siam Commercial Bank, Booz Allen Hamilton, Wildlife Conservation Fund, The Partnership for Public Service, American Family Insurance and IDEXX to shape the future of employee engagement."
Through this collaboration, The Engagement InstituteTM expects to surface and share existing and innovative practices that organizations need to apply for improved employee engagement. Another key differentiator of The Engagement Institute™ is the distinct yet complementary capabilities that each sponsoring firm brings to the table.
"We are very excited by this partnership with The Conference Board and Deloitte," said Michael Meltzer, CEO of Sirota. "Sirota brings deep employee engagement expertise and workforce analytic solutions that allow our clients to gain deep insights into their data. Deloitte provides a nuanced understanding of human capital management so organizations better understand how employee engagement fits into their talent programs. The Conference Board brings research insights and peer learning expertise. The three organizations pull all of this together in a research community of practice on employee engagement offering best practices and a forum for members to discuss the critical challenges they face."
The Engagement InstituteTM will host its first Engagement Summit, set for October 16-17, 2014, where members will share their research findings, discuss issues and research topics important to member organizations, and hear from prominent speakers and experts.
To learn more about The Engagement InstituteTM and to sign up as a Research Fellow or Advisor, visit www.theengagementinstitute.com.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. The Conference Board's mission is unique: to provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. For more information, visit www.conference-board.org.
About Deloitte's Human Capital Practice
Deloitte helps organizations effectively manage their human capital to drive business growth. This is done by leveraging advanced analytics to develop talent management and business-driven HR strategies to deliver results. Deloitte is a leader in human capital consulting, bringing a unique combination of business, industry and HR knowledge, supported by the breadth of services and capabilities of a multidisciplinary professional services organization and global network. For more information, please visit www.deloitte.com/us/humancapital.
As used in this document, "Deloitte" means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
Since Dr. David Sirota founded the firm in 1972, Sirota's mission has been to improve the lives of employees and enable organizations to achieve sustained business success by creating strong and productive relationships. Sirota works with leading global organizations to assess The Employee Experience and Leadership & Management Practices, understand the results and their impact on culture and execution, and facilitate action to drive business results. For more information, please visit http://www.sirota.com.
SOURCE The Conference Board