In business, people are your most valuable assets. Finding the right people with the right skills that are engaged and productive is key to growing a successful business.
The most recent statistics about the US workforce are telling…
- Increasing employee engagement investments by 10% can increase profits by $2,400 per employee per year. (Source: Workplace Research Foundation)
- Companies with engaged employees outperform those without by 202% (Source: Business 2 Community)
- Companies that increase their number of talented managers and double the rate of engaged employees achieve, on average, 147% higher earnings per share than their competition (Source: Gallup)
- Disengaged workers have 37% higher absenteeism, 49% more accidents, and 60% more errors and defects (Source: Queens School of Business and by Gallup)
Poor management and disengaged employees in the workplace are creating a $450 billion to $550 billion annual deficit for U.S. companies. The cost of disengagement has been estimated to be so pervasive that it costs an organization, on the average $5,000 per employee, conservatively.
What does disengagement look like?
- Are “Checked out” – thinking about their next break or lunch
- Show up to kill time until the next pay check
- Have little concern for other people’s needs including customers
- Return less than 60% of their pay in value
What does being engaged at work look like?
- Are fully involved in, and enthusiastic about their work
- Committed to their organization’s goals and values
- Motivated to contribute to the success of the organization
- Dedicated to their own personal development
- Return 100% – 120% in their pay in value
What can be done?
Gallup suggest THREE WAYS TO ACCELERATE EMPLOYEE ENGAGEMENT
- Select the Right People
- Develop Employees’ Strengths
- Enhance Employees’ Wellbeing
What one step can you or your company do to accelerate engagement in the workplace?
Invest in the development of your team members.
“Knowing how you matter on the job, in your business, or as an organization is key to being able to take purposeful action. Having the tools needed to effectively interact in various situations impacts the people you work with and the people you serve. Invest in your most valuable resource – people.” Deb Sauder, CEO of InterACT4Impact, Inc. – www.interact4impact.com
Learn about creating Healthy Workplaces with Dynamic Teams from workforce experts:
The Small Business Advisory Board is excited to offer an interactive workshop to provide owners, managers, and executive directors of small/midsize businesses and organizations, simple strategies to create a workplace everyone wants to show up for.
Presented By Our SBAB Business Experts:
Jessica Hamilton, HR Consultant, Jodi Milbradt, Employer Solutions, Deb Sauder, Workplace Strategist and Zaylore Stout, Employment Attorney
Wednesday, April 11, 2018, 9:00 am to 11:00 am
Seating is Limited! Register Today!