Engaging Employees, The Key to Business Success

Dominique Cote, Vice President, Employee Experience & Communications, TMX Group

Through this article, Dominique Cote, Vice President of Employee Experience & Communications at TMX Group, draws upon her 22 years of experience to emphasize the critical link between employee engagement, company culture and the Employee Value Proposition (EVP). She highlights the significance of regular employee check-ins through surveys to gauge satisfaction and identify areas for improvement. Cote outlines TMX Group's approach to measuring and enhancing engagement, focusing on both outcomes and drivers and stresses the importance of targeted actions based on survey insights. She concludes by underscoring the pivotal role of engaged employees in fostering a high-performing culture and driving overall business success.

After graduating from the University of Miami with a master's degree in Communications for Public Relations, I embarked on a career that would eventually lead me to my current role as VP of Employee Experience & Communications. My journey began in a smaller company where I gained experience in various facets of communications, including advertising, PR, events, community relations and employee communications. This diverse exposure sparked my passion for the employee voice, shaping my career trajectory. Now, 22 years later, I oversee portfolios that include employee communications, engagement, charitable giving, linguistic services, wellness, recognition and overall employee experience. Here, I explore the relationship between employee engagement, company culture, and Employee Value Proposition (EVP).

Culture, EVP and Employee Experience

A company's culture profoundly influences the employee experience, shaping daily interactions and overall job satisfaction. The Employee Value Proposition (EVP), on the other hand, is the articulation of the intended experience to prospective employees —a promise about what they can expect if/when they work here. Engagement emerges as the outcome of these employee daily experiences, reflecting employees' dedication, their willingness to exert effort and their intention to remain with the company. They are all interconnected and aligned, and if these elements are working in congruence you have an incredible workplace - if you have mismatches in the culture and the EVP promise, you’ll see low engagement, high turnover, less applicants, and many other things.

Checking In: Engaged Employees Mean Engaged Clients

Regularly checking in with employees is crucial for maintaining high engagement levels. Strong participation in surveys is vital, it provides comprehensive views and actionable insights into what is working and what needs improvement. At TMX, we conduct biannual check-ins—one in the spring to assess cultural alignment with our values and desired attributes and another in the fall to measure overall engagement.

These surveys are critical tools for understanding employee satisfaction and identifying areas for enhancement. The insights gained help us create a high-performing culture that not only benefits employees but also translates into better client experiences. Engaged employees are more likely to provide superior service, go above and beyond with creative solutions, partner with clients to design new products or features - which all translates to engaged clients and ultimately, success for our business.

Engagement Outcomes and Drivers

To effectively measure and improve employee engagement, we focus on both engagement outcomes and drivers. Engagement outcomes serve as benchmarks, reflecting the overall health of employee engagement within the organization. These outcomes, such as employees recommending the company as a great place to work or finding their work engaging, provide a temperature check on the overall sentiment within the organization.

"We must adapt strategies and tools to continue recruiting talent from a generation that more than ever values flexibility."

When outcomes reveal declining engagement, it signals the need for a deeper look into the underlying issues. This is where the driver questions come into play. Drivers, such as understanding how performance is measured or receiving meaningful recognition, offer actionable insights into specific areas that require attention. For example, if employees feel they lack opportunities for personal development, targeted initiatives can be implemented to address these concerns (to the right audience and on the right topics), ultimately enhancing overall engagement and better outcomes.

Taking Action Based on Survey Results

One of my favourite parts about analyzing survey results from multiple angles—by age, service range, gender, work arrangement, management level and location - is that it uncovers underlying stories. Not only does it identify areas of opportunity but it also identifies strengths across the organization - something we can’t forget to celebrate! Next, collaborating with leadership teams to prioritize areas for improvement, and amplifying strengths, is essential to decide on a few critical areas of focus, rather than spreading efforts too thin to ensure meaningful progress.

Common focus areas often include low-rated driver questions or the least favourable survey items. By setting clear engagement commitments and desired goals and selecting 2-3 actionable steps, an organization can make significant strides in enhancing employee engagement - something we’ve seen first hand at TMX. Employees see us take meaningful action with each survey which is why we continue to get extremely high participation.

Finally, it’s important to keep going and improving the driver areas that are going particularly well - these are critical in maintaining the culture you are building.

Engaged employees are the cornerstone of a thriving business. By understanding the connections between culture, EVP and employee experience and by regularly checking in and taking targeted actions based on survey insights, organizations can build and foster a high-performing culture that benefits both employees and clients. As someone who has dedicated over two decades to amplifying the employee voice, I have seen firsthand the power of engaged employees on overall business success. Engaged employees, a great culture and follow-through on promises, ultimately results in sustained long-term success for the organization.