Employee Engagement Could Cost or Multiply Your Profits.. Big Time

Why Employee Engagement Could Cost or Multiply Your Profits. ig Time What does it mean to be "engaged"? It's more than satisfaction. Engaged employees don't just do their jobs. They feel a strong sense of purpose and passion for their work, and their values are in alignment with those of their employer. Engagement Vs. Satisfaction Job satisfaction is a little bit broader of a metric. If you're not happy at work, you're not alone. 52.3% According to 2014 data, 52.3% of Americans are dissatisfied with their jobs. 47.7% 70% Even fewer workers are engaged. 30% Only 30% according to a 2013 Gallup poll. What are the costs? Gallup estimates that disengaged workers cost the U.S. economy up to $550 billion in lost productivity every single year. 550 BILLION Losing an average employee as a result of disengagement can mean up to 150% of their salary in turnover costs - 400% for higher ranking employees. I 1:1400% | 150% What are the benefits? Investing an extra 10% in employee engage- ment efforts can result in up to $2,400 in extra profit per employee each year. 10% The productivity of employees with high levels of engagement is 38% more likely to be above average. 38% 202% Corporations filled with engaged employees outperform those that aren't by 202%. How can engagement be elevated? Appreciation is key 67% According to a study by McKinsey & Company, 67% of employees rated praise and commendation from management as a top performance motivator. Make a plan 25% Only 4 of management teams have a hard and fast plan for boosting engagement. x. Let employees be heard Companies who give frequent opportunities for employee feedback have experienced turnover rates up to 14.9% lower than those that didn't. 14.9% Cultivate meaning 100% Pride, inspiration, and purpose are all key drivers of engagement in the workplace. References http://www.dalecarnegie.com/employee-engagement/engaged-employees-infographic/ http://www.gallup.com/businessjoumal/153341/why-strengths-matter-training.aspx http://www.forbes.com/sites/susanadams/2014/06/20/most-americans-are-unhappy-at-work/ http://blogs.wsj.com/atwork/2014/06/18/u-s-workers-cant-get-no-job-satisfaction/ http://www.globoforce.com/gfblog/2014/25-great-statistics-on-employee-recognition/ http://www.usatoday.com/story/money/business/2013/06/30/americans-hate-jobs-office-perks/2457089/ http://blogaccessdevelopment.com/indexphp/2014/08/employee-engagement-loyalty-statistics-the-ultimate-collection http://www.mckinsey.com/insights/organization/motivating people_getting beyond_money http://www.gallup.com/businessjournal/162953/tackle-employees-stagnating-engagementaspx https://www.linkedin.com/pulse/20140701121556-17497251-the-cost-of-employee-turnover http://www.thesocialworkplace.com/2011/08/social-knows-employee-engagement-statistics-august-2011-edition/ Presented By: M Aries Residence Suites