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WHY IS EMPLOYEE ENGAGEMENT SO IMPORTANT?
Well, let’s look at what some experts and studies have to say on the subject.
Seventy percent is a BIG number. That’s a lot of disengaged people. I know what you’re thinking though: “I’m a good business owner. I have a great Team, we’re like a family. My employees are plenty engaged!” Well, at the risk of raining on that parade, our consultants have interviewed team after team and NOT ONE team has been 100% engaged. Sad, but true.
Disengaged employees range in intensity. The actively disengaged employee is a powerful virus which can have a VERY large impact on a small business. Even mildly disengaged employees in a small organization can have a LARGE impact. Think about this: If your company has 20 employees and 4 are disengaged and 1 is actively disengaged, then 25% of your entire organization is likely to be exhibiting behavior which is costing you money. The more these team members control the “customer facing” component of your business, the higher the impact on your bottom line.
* 37% lower absenteeism
* 25% lower turnover (in high-turnover organizations)
* 65% lower turnover (in low-turnover organizations)
* 28% less shrinkage
* 48% fewer safety incidents
* 41% fewer patient safety incidents
* 41% fewer quality incidents (defects)
* 10% higher customer metrics
* 21% higher productivity
* 22% higher profitability
The above list shows VERY clearly the measured positive impact of strong employee engagement. Just run those percentages, one by one, on YOUR mental profit and loss report. Disengaged employees cost money, but engaged employees are a HUGE and valuable asset.
This statistic should scare you. What it’s telling us is that only 1 in 4 organizations have any engagement plan or strategy. This despite 9 of 10 organizations reporting that they know there’s a relationship between engagement and success.