Employee engagement. We talk a lot about it, and we know we want an awful lot of it — but not everyone in leadership actually knows what it means, not really.
To put it simply, employee engagement is the level at which your employees care about their work and your company. They don’t work just for a paycheck but to help you achieve whatever it is your business is trying to achieve. In other words, they’re emotionally committed to and invested in your business and its interests.
If this isn’t reason enough to invest in employee engagement, consider these six other benefits:
Companies often assume that if they pay employees enough, they’ll be more productive. But I’m here to tell you there’s more to it than that. Recent research suggests it isn’t money that drives productivity but happiness. In fact, happiness can boost productivity by as much as 12 percent. And engaged employees tend to fall into that camp.
It goes without saying that engaged employees are much more satisfied with their jobs. But did you know the correlation between engagement and satisfaction branches out into other business areas? Namely when it comes to customer service. Companies that excel in this area have nearly twice as many engaged workers.
There’s no denying that the grass will always be greener at another employer, as most of us have inflated expectations of the unknown. But engaged workers are 87 percent less likely to leave a company when compared to disengaged staff. If you want to minimize turnover, which will cost you an average of $15,000 per person, take another look at your engagement strategies.
Related: 10 Retention Tips for Leaders
People get sick — that’s just a fact of life. And yes, there will always be those staffers who suffer from mysterious “ailments” only between the hours of nine and five, but not engaged employees. They only take an average 3.9 sick days per year, while disengaged workers rack up nearly 11 missed days.
One of the inevitable realities is that people talk — and technology has made it that much easier for people to talk to more than just their network. They can quite literally talk to everyone. What your employees say about your company will have a direct impact on your reputation. If they’re engaged and like where they’re working, it only stands to reason that they’ll only have good things to say.
It’s not like you got into business for the fun of it. You want to make money, and those businesses with more engaged workers tend to see more profits. According to a study by Towers Perrin, companies with engaged staffers saw a 19-percent increase in operating income within just one year, while those with disengaged workers experienced a 33 percent decrease. If you want a profitable business, engage your workers.
Taking care of employees shouldn't be just empty words for your company. It should be an active part of your strategy — and research supports this fact. The ROI of engagement can be seen in everything from productivity and retention to customer service and profits.
If you’d like to learn more about employee engagement, or discuss what you can do to start building a more engaged workforce, please feel free to contact us today. Advantage Resourcing offers fully customized talent acquisition and retention solutions. Also look for specific employee engagement ideas on this blog in the coming weeks!