In the dynamic world of small and medium-sized enterprises (SMEs), every resource and strategy counts. One often-underestimated asset that can significantly impact an SME’s success is employee advocacy. Harnessing the collective voice of your employees through advocacy programs can propel your business to new heights. In this blog, The SME Advantage: Harnessing Employee Advocacy for Growth, we’ll explore why employee advocacy is not just important but imperative for SMEs.
- Amplified Brand Reach and Customer Engagement
Once an employee advocacy program is implemented, 79% of surveyed businesses reported more online visibility.
In the digital age, brand visibility and customer engagement are paramount. Employee advocacy involves employees sharing your company’s content, achievements, and values through their personal social media networks. This extends your brand’s reach exponentially. A single post by an employee can potentially reach hundreds, if not thousands, of connections. For SMEs striving to increase brand recognition, this amplification is invaluable.
- Increased Employee Retention and Productivity
Employees who remain active in advocacy programs are far more likely to stay at their company.
Engaged employees are your SME’s greatest asset. When they actively participate in promoting your brand, it fosters a sense of pride and ownership in their work. This engagement can translate into higher job satisfaction and lower turnover rates, saving your SME recruitment and training costs. Employees who advocate for their company often see it as more than just a job; it’s a part of their identity.
- Improved Profitability
Companies with active advocacy programs report 21% higher profitability.
Profitability is the lifeblood of any business. SMEs with active employee advocacy programs experience a significant boost in profitability. Employees who advocate for their company often go the extra mile, contributing to the company’s bottom line. This additional effort can result in a substantial increase in overall profitability.
- Enhanced Employee Wellbeing and Decreased Absenteeism
Active advocacy programs often lead to improved employee wellbeing and decreased absenteeism.
A key aspect of employee advocacy is creating a workplace culture where employees feel valued and engaged. When employees actively advocate for their company, they are more likely to experience improved wellbeing and job satisfaction. This, in turn, leads to decreased absenteeism, as employees are motivated to be present and contribute to the company’s success.
- Safer Workplace
Employee advocacy is not limited to promoting the company externally. It also fosters a sense of responsibility and collaboration within the workplace. Employees who advocate for their company are more likely to adhere to safety protocols, contributing to a safer workplace environment.
In conclusion, employee advocacy is not just a buzzword; it’s a strategy that can significantly impact the success of SMEs. It amplifies brand reach, builds trust, enhances employee engagement, fosters innovation, and provides a competitive edge. To kickstart your employee advocacy program, consider providing your employees with perks and incentives through platforms like Dragon Perks. Happy employees are more likely to advocate for your SME, making it a win-win for everyone involved.
To discuss your employee benefit needs, and to take a look around the Dragon Perks portal, get in touch today at info@dragonperks.com or book a demo here.
References and further reading: The SME Advantage: Harnessing Employee Advocacy for Growth
https://www.sme-news.co.uk/why-is-employee-engagement-more-important-for-small-businesses
https://www.storytagger.com/articles/employee-advocacy/
https://prophet.com/2014/10/relationship-economics-linkedin/
https://hingemarketing.com/uploads/hinge-research-employee-advocacy.pdf