Can you afford to have disengaged employees?
The level of engagement of your employees has a significant impact on the your organization’s ability to:
1) Retain Talent
According the the U.S. Department of labor, unemployment rate is at record lows. While this is great for our economy, it makes it has created a very competitive market for good talent. Since the success of every business is highly dependent on capabilities and qualities of it’s employees, it is imperative to attract and retaining talent. Since engaged employees take ownership to their jobs and organization, they far more likely to stay.
2) Develop a Healthy Work Culture
Research indicates that when employees are engaged with their company, they are more likely to play a key role in your promoting your mission, strategy, and brand. They build a culture of loyalty, pride, and high performance.
3) Optimize Productivity and Profitability
Engaged employees are often top performers, those committed to ‘going the extra mile’ to achieve business success. Highly engaged employees out perform their less engaged coworkers by more than 20% (Conference Board, 2006). Further, companies with high levels of engagement had operating margins that rose by 3.74 percent over three years, whereas low level engaged companies’ margins fell by 2.01 percent (Towers-Perrin/ISR, 2003). Moreover, companies with highly engaged employees had average gains in share price of 16 percent compared to an industry norm of 6 percent (Sirota Consulting, 2005). In fact, virtually every study published on employee engagement shows positive correlations with desired organizational outcomes.