Impact of Organisational Values Elements and Employee Engagement outcomes on Business Performance Indicators
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In the VUCA (Volatile, Uncertain, Complex and Ambiguous) environment, Business Sustainability across companies and industries is driven by Business Value Creation. Conventionally Business Value creation is linked to quantifiable and tangible periodic achievement of top line and bottom-line targets. According to Great Place to Work Institute, UK, there is no correlation between an organization's publicized values and financial performance but there is a link between a culture of strong values as perceived by employees and organizational performance. Therefore, values need to be ‘lived’ throughout the organization. (2014). Glynis A. Fitzgerald and Nancy M. Desjardins (2004): Organizational Values and Their Relation to Organizational Performance Outcomes, Atlantic Journal of Communication, 12: 3, 121–145 discusses how values are defined and different ways that values can be communicated to acquire improved organizational outcomes. The construct, employee engagement emanates from two concepts that have won academic recognition and have been the subjects of empirical research-Commitment and Organizational Citizen Behavior (OCB) (Robinson, Perryman and Hayday, 2004; Rafferty et al., 2005). Gallup organization defines employee engagement as the involvement with and enthusiasm for work. Gallup as cited by Dernovsek (2008) likens employee engagement to a positive employees’ emotional attachment and employees’ commitment. As per Hewitt, Employee Engagement describes the state of Emotional and Intellectual Involvement or Commitment an Employee has to an organization. Hewitt research and experience show strong evidence that higher levels of Engagement combined with appropriate capability produce stronger business results and sustainable competitive advantage. Therefore, by identifying those factors which have the most impact on an employee's level of Engagement, organizations can develop strategies and take actions to increase Engagement and therefore business results. Perrin's Global Workforce Study (2003) uses the definition “employees’ willingness and ability to help their company succeed, largely by providing discretionary effort on a sustainable basis.” According to the study, engagement is affected by many factors which involve both emotional and rational factors relating to work and the overall work experience. Great Place to Work Institute UK, 2014 research shows that a strong values-driven culture is critical to the success of high-performance organizations. Organizations with a culture of strong values are more likely to have better financial results than their peers. It is believed that organizations need to put values back at the core of their business. This is not only as a reaction to the various scandals and crises that have affected business in the last few years, but also as a tool to help minimize the risk of falling victim to future scandals and crises. Strong values help build organizational resilience. In line with above citation, the Key objective of this research is to establish systematic qualitative and quantitative linkages between Organizational Values and Employee Engagement on Business Performance Indicators, which is a very important construct from the context of organizational sustainability. During the business review in the targeted industries within India, the above-mentionedlinkages need to be strategically assessed. It is business imperative to leverage the Organizational values for enhancing employee engagement, commitment and trust for impacting Individual and team's performance which will further impact Business Value variables like revenue, profitability, market share and growth. In order to achieve the objective of the research it is important to study the linkage and correlation of Organisational Values deployment and survey findings with Employee Engagement of the company and its further linkage with Key Business Performance indicators.
Employee engagement outcomes, Organizational Values elements, Value creation, Value congruence, Key Business Performance Indicators.