Employee engagement is far more than just a buzzword, but is a concept that is being explored, measured, and used to improve business performance while investing in the well-being of the people doing the work.
The value of good employee engagement makes sense on its face. If someone is processing payroll, preparing food, or operating on patients, it is better for all concerned if that person is highly engaged in what he or she is doing.
Many organizations are studying employee engagement, and the statistics are telling. Higher levels of employee engagement lead to less turnover, higher revenues, and greater work satisfaction. That is good not only for the company but for its customers and clients. Here is what some of the most important employee engagement statistics say.
Employee Engagement Statistics: Facts and Costs
Estimates for levels of disengagement range from 51 percent to a whopping 70 percent in the United States, up to a staggering 85 percent worldwide. Lost productivity estimates range from $500 billion in the US to $7 trillion globally.
Companies that have engaged employees can expect up to a 202 percent performance premium compared to companies with disengaged employees. When people leave their jobs, only 12 percent of them are leaving for the prospect of a bigger paycheck. Most people are leaving because they are not engaged, do not feel appreciated, or cannot stand their boss.
Key Drivers of Higher Employee Engagement
There appear to be three key drivers of higher levels of employee engagement:
- An employee’s relationship with his or her direct manager
- Employees’ belief in senior leadership
- Employee pride in working for the company
But here is the rub: only 20 percent of senior managers consider themselves “passionate” about their jobs. That is too bad because engaged employees depend on engaged managers, and those who have them are more enthusiastic, inspired, empowered, and confident.
Talent Does Not Protect Against Disengagement
Employee engagement statistics concerning talent levels are also highly revealing. High-talent, disengaged workers are just as likely to leave for greener pastures as low-talent, disengaged workers. This is particularly problematic because the truly talented people are rarer, more expensive to replace, and the easiest to engage.
Moreover, they can directly or indirectly take other high performers with them when they leave, potentially giving the competition a boost. In other words, do not assume that your highly talented workers are engaged because they may not be and, in fact, may be ready to walk.
Actionable Tips for Improving Employee Engagement Statistics
There are several things companies can do to improve levels of employee engagement:
- Regularly audit their performance management system
- Train managers in effective communication with their direct reports
- Choose managers with utmost care and consideration
- Ensure senior management articulates a clear corporate mission
- Encourage managers to demonstrate appreciation for work well done
- Insist on strong communication among employees
The great news is that the right employee engagement app can help ensure that the employee engagement statistics at your organization are exemplary. Platforms like hubEngage help companies of all sizes in all industries improve employee engagement by allowing actions like:
- Pushing content to the right people at the right time
- Enabling stronger communication amongst employees
- Soliciting employee feedback
- Issuing instant information alerts
- Delivering training modules, complete with highly engaging gamification
- Including company branding on all app elements
We have always known on some level that engaged employees are productive employees, but now we know more about just how important employee engagement is. The fact is that if your employees are not engaged in their work, your company suffers, and their personal satisfaction and work-life balance suffer too.
Companies that make the effort to improve employee engagement reap the benefits in terms of lower turnover, higher productivity, and higher revenues. An employee engagement app can be the key to making your company’s employee engagement statistics shine. Best of all, you can try the hubEngage app for free! Learn for yourself how great the possibilities are when your workforce is fully engaged in what they do.
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