At a recent business luncheon, a CEO was asked how many people work in his company: “About half of them,” he responded.
Sadly, this comment validates what Gallup has been stating for years. Employee engagement have hovered around 30% since about 2000, with the most recent statistic at 32% in 2015.
Without a doubt, one of the greatest challenges companies currently face is the attraction and retention of talent. Intelligent, honest, hard-working staff are critical to an organization’s ongoing success, but now more than ever, good people are hard to find – and they are even harder to hold on to! To ensure employee job fulfilment, loyalty and maximum ROI, the key ingredient that is so often missing is Engagement.
Engaged employees are enthusiastic about their work, dedicated to the success of the company and willing to go the extra mile to ensure it succeeds. They can take a company from good to great.
Studies show that direct interaction from leadership, recognition for accomplishments, strong bonds between coworkers, a sense of purpose and a sense of autonomy all contribute to improved engagement. Here are some facts to support these claims:
- Money doesn’t matter. Nearly 60% of employees say “giving recognition” is the #1 way to improve engagement.
- Companies that focus on building employee strengths over correcting weaknesses have more than 2X normal engagement.
- Employees are 50% more likely to be engaged if they have regular meetings with their boss.
- According to Jack Welch, good business leaders create a vision, passionately own the vision, and relentlessly drive it to completion. When employees share the vision of the company and its purpose, they are more engaged.
So how about having fewer sick days, accidents, errors, conflicts and grievances – while watching productivity and retention go up? Having passionate people won’t just improve your bottom line, it will give you a better, more enjoyable place to work, which will literally make your life better.
Want to learn more about employee engagement in your business? Contact us today! We are the Central Ohios’ Engagement Experts.