Having engaged employees is very crucial for your company.
When your employees are engaged, performance and productivity will soar, customer loyalty will increase, your employees will experience better job satisfaction, and your hiring costs and turnover rate will fall significantly.
Don't believe me? Check out the following statistics from various research studies:
- Engaged employees lead to 51% higher productivity in their companies compared to disengaged employees.
- According to a survey by Towers Watson, a higher level of employee engagement leads to 9% higher returns for shareholders.
- A study by the Conference Board found that engaged employees have 20 – 28% higher performance than disengaged employees.
- A research by Serota Consulting in 2005 found that the share prices of companies with highly engaged employees rose by about 16% on average, against an industry average of just 6%.
- A Gallup poll found that there is less absenteeism among companies with engaged employees.
As you can see from these numbers, there are clear benefits of keeping your employees engaged.
This is why companies are spending in excess of a billion dollars every year on employee engagement.
Despite spending all this money in a bid to increase employee engagement levels, most managers do not have an accurate idea of what employee management means. If you ask different managers what employee engagement means, you will get wildly varying answers.
This lack of a clear definition of what employee engagement means is clearly a problem.
Despite such huge sums of money being thrown at it, only slightly over one third of employees in the United States are engaged in their work, according to a poll by Gallup.
WHAT IS EMPLOYEE ENGAGEMENT?
Employee engagement can be defined as level of emotional commitment shown by an employee to their company's goals, their team's goals, and ...read more
Source:: 9 Employee Engagement Archetypes