Discontent in the workplace is very common. Only 13 percent of the world’s employees are engaged with their jobs. Employees will always encounter issues at work, from the nagging boss to late payments of salaries. Finding ways to address this rests on the managers and their work policies. An employee engagement program is a typical answer. One can sweeten it with lifestyle benefits or other non-company activities, but the specific goals are the same: reduce discontent and improve productivity.
Bringing your company the desired results means coming up with a great team of workers who shares your vision for growth and prosperity. Having them more engaged in their work demands a change in the overall company culture—one that caters to their needs and their work-life balance. Giving them rest when needed and time off to socialize are desirable. In time, one will see great results.
Reduced Turnover
One very obvious outcome of having an effective employee engagement program is a significant reduction in the number of people leaving the company. On average, there is a 90 percent likelihood that employees will stay if they are more engaged at work. Global stats on employee turnover suggests roughly that over half of employees are willing to leave a company anytime, citing a host of issues faced at work, from personal to relational concerns. About 80 percent will consider leaving if they are given a higher salary. These figures only show how engaged employees improve retention rates.
Cost Savings
For a company, hiring can be really costly, but those who leave are even more expensive to replace. Overall, when an employee leaves, it will cost 33 percent of their salary to find a replacement. In the UK, disengaged employees are costing the nation £340 billion annually in lost productivity. As people leave, the cost of hiring is compounded, especially if the position vacated is critical to company operations. Employee engagement activities can curb such losses by driving revenue and increasing profitability. At least, a growth of 30 percent in company performance is expected with engaged employees, all contributing to a common goal.
Higher Productivity
Surveys show that productivity is improved by 20 to 25 percent across all sectors if employees are engaged. When employees are stressed due to heavy workloads, succeeding days of work will never be able to catch up to daily targets as tired workers will not operate optimally. A global survey shows that more work would lead to nearly 70 percent of lost productivity. More so, six of 10 highly stressed workers say that they are disengaged as compared to only 10 percent of employees reporting low stress at work.
Satisfied Customers
Happily working employees transcends to improved customer satisfaction. A company that has an effective employee engagement program can expect 233 percent growth in customer loyalty. Employees who are engaged with their jobs and objectives are happier to talk to customers. Customers become engaged, too, ensuring a long-lasting client-employee relationship.
Work in the modern era is fast-paced and riddled with challenging tasks and work-related issues. This can be toxic to an organization. Employees who do not feel good about their work leave to find a “better” job. If a good employee engagement program is in place, one can only expect better business with happier employees, managers, and customers.
