Forbes summed this up perfectly:
Imagine out of 100 people in your business:
- 21 people are powerfully rowing toward your company goals.
- 19 people are actively rowing against them.
- 60 people are just along for the ride, creating drag for those who are rowing forward.
Additionally, compared to businesses in the Bottom Quartile, organisations in the Top Quartile will see:
18% higher productivity
16% higher profitability
-25 to -49% Staff turnover
In summary, Employee engagement is important for several reasons:
- Higher productivity: Engaged employees are more productive and focused on their work. They are willing to go the extra mile to achieve their goals and are committed to the success of the organization.
- Better job satisfaction: Engaged employees are happier and more satisfied with their work, which leads to reduced turnover rates and lower recruitment costs for the organization.
- Improved customer satisfaction: Engaged employees provide better customer service and are more likely to create positive customer experiences, which can lead to increased customer loyalty and retention.
- Increased innovation: Engaged employees are more likely to be innovative and come up with new ideas, which can help the organization stay competitive in the marketplace.
- Stronger teamwork: Engaged employees work well together and are more likely to collaborate and support one another, which can improve overall team performance.
So what’s stopping organisations from making the change?
There are several factors that can prevent companies from starting an employee engagement project:
- Lack of awareness: Some companies may not be aware of the benefits of employee engagement and how it can impact their business outcomes.
- Limited resources: Employee engagement initiatives require time, money, and resources, which some companies may not be able to allocate due to budget constraints or other priorities.
- Lack of leadership support: Employee engagement initiatives need the support and commitment of senior leaders to be successful. If leaders are not fully on board, it can be challenging to implement and sustain employee engagement efforts.
- Lack of measurement: Employee engagement initiatives need to be measured and evaluated to determine their effectiveness and identify areas for improvement. Some companies may not have the tools or expertise to measure engagement levels or interpret the data.
Overcoming these barriers requires a commitment from leadership, a clear understanding of the benefits of employee engagement, and a willingness to invest resources and time to develop and implement effective engagement initiatives.