Two of the most serious causes of employee disengagement are:
If you are running surveys, this will often turn up as a complaint about poor communication.
This is often triggered when executive leadership makes a strategic decision that an employee sees as being incorrect. Often the employee has good knowledge of the situation, but their voice wasn't heard. Sometimes there are cultural problems that make it hard to speak up - perhaps they are systemic across the organisation, or race or gender related. Or perhaps there are other factors at play. But without transparency for decision making, the employee's lived experience is often a feeling of disregard for the employee's knowledge.
This can lead to a downward spiral where employees become more reluctant to share information that could lead to better decision, since they see it as pointless; further decisions get made without access to that valuable input.
It's not easy to break that cycle. Any system for turning around a disregard problem in an organisation has to be:
Genius of Crowds makes prediction markets that are anonymous, aligned and amicable. We can make it obvious that your employees' experience and knowledge are getting used in decision-making.
Contact a Concierge GenieThis often turns up on surveys as lack of recognition for achievements, or (sometimes) as inadequate compensation.
Often this kind of disengagement happens after bonuses and promotions have been handed out. It's a fraught time, because there is often a lot of subjectivity around who performed well this year.
If there is a misalignment between the stated standards of the organisation ("we treat everyone equally") and the perceived standards ("to get ahead you have to be ...") this can lead some of your best employees to look for other pastures.
The effect is particularly strong for people with unusual backgrounds: distinct culturally, distinct neurologically and anyone else who doesn't see themselves as excluded or different from the majority of the organisation. And this is a great pity, since it is their perspectives that can take an organisation to greatness.
It's not easy to re-engage employees who have been burned one too many times by perceived misaligned rewards. Any system for turning it around has to be:
Genius of Crowds makes prediction markets that are equitable, independent, formalised and revealing. We can make sure that your best and wisest staff get financially rewarded so that they they want to stay and contribute.
Contact a Concierge GenieWe assign a Concierge Genie to you to manage the process from beginning to end. We help you identify a KPI that you could set up a market for, and talk to any corporate sponsors about pairing the market for strategic decision making. We set up markets for you, and your staff can sign in to make their predictions.
When the market closes (at a time of your choice), we generate reports for your executive team that can also be distributed around to staff. Employees can see what they were predicting vs the consensus, and any strategic decisions in paired markets become very transparent to everyone. This is how we address problems of disregarded knowledge - it's impossible to disregard an individual in a prediction market!
When the market resolves (for example, if the market was about the Q1 sales figures, then this is when the accounts are closed for Q1 and you know the sales numbers), we generate reports on how much money each staff member earned in the market. The closer they were to being right, the more money they get as a bonus! This is how we address problems of misaligned rewards.
After several markets have resolved, we can generate reports on who in your staff are regularly outperforming -- your top 1-2% of staff who are superforecasters. These are your next generation of advisors who have demonstrated perspecuity and predictive ability -- access to these kinds of people in your organisation is the superpower that lets you get far ahead of your competition.
Contact a Concierge GenieThat's up to you! If you are using our pay-as-you-go pricing, it's 10% of the prize pool. If HR only has a budget of $100 to address employee engagement, we can work with that. (But of course, if you can spend more, you'll see faster re-engagement from your employees.)
Contact a Concierge Genie