The RBA, Regulatory Change and the Employee Engagement Risk

From 1 October, Australian businesses will no longer be able to surcharge customers for Visa, Mastercard and eftpos payments. The change means businesses will need to absorb those costs and reconsider how they manage pricing and payment processes.

On the surface, this is a financial and operational issue, however, there is another question leaders should be asking:

"How does this change affect our margins, pricing, employees and customers - and do we understand what is happening on the frontline?"

When external economic and regulatory changes put pressure on margins, employee intelligence becomes more important because leaders need to understand how those pressures are affecting the people delivering the customer experience.

These effects don't necessarily appear in financial reports, they can, however, appear in employee feedback. This is where employee engagement data becomes more than a measure of workplace sentiment. It can provide an early view of how business decisions are being experienced on the ground.

The value of employee intelligence is not simply knowing your engagement score. It is understanding what sits behind it - and what those signals may be telling you about the health of the business.

The RBA's changes are just one example. As organisations respond to regulatory changes, cost pressures, technology and restructuring, leaders need more than financial and operational data.

They also need to understand what is happening with the people responsible for delivering the result.

Sometimes, your employees are seeing the risk before the numbers do.

#EmployeeEngagement #EmployeeIntelligence #BusinessRisk #RegulatoryChange #PeopleAndCulture #WorkplaceCulture #HRStrategy #RBA