Multiple research studies conducted over the past several years have proven that there are substantial rewards from effective employee engagement! So what is employee engagement?
In a study from the Institute for Corporate Productivity they define Engaged Employees as “those who are mentally and emotionally invested in their work and in contributing to their employer’s success.” The 2011 Employee Engagement Report by Blessing White Inc. states “Full engagement represents an alignment of maximum job satisfaction (“I like my work and do it well.”) with maximum job contribution. (“I help to achieve the goals of my organization.”)
So why is it important to a business to have engaged employees? Let’s take a look at some of the Facts.
- 80% of employees are not happy, satisfied or fulfilled. 1
- High Employee Engagement firms have an ROI 19% higher than average and in Low Engagement organizations ROI was 44% below average? 2
- In a worldwide study of 100,000 employees, 51% said they would sacrifice status and pay to have more meaningful work! 3
- As levels of employee satisfaction rise, so do customer satisfaction levels rise. 4
- A landmark study published in Harvard Business Review asserted that a 5% increase in customer loyalty can increase profits from 25% to 85%.
- Organizations with comparatively high proportions of Engaged employees were much less likely than the rest to see a decline in earnings per share in 2008, the year after the recession officially began. 5
- The average cost to the organization of having a disengaged employee is $16,000 per year! An engaged employee makes an average of $32,000 for the company. 5
So the bottom line is all about your bottom line! If the employer has a clear mission, the employees know what their work passions are and you engage them the rewards are both financial and emotional; higher profits and happier employees!
Click here to find out more about The Passion Test for Business and to schedule an exploratory conversation.
1 Harris Interactive 2 Aon/Hewitt Associates 3 Kelly Global 4 Towers Perrin International Survey Research 5 Gallup
