There are no two ways about it.
𝙄𝙣 𝙤𝙧𝙙𝙚𝙧 𝙩𝙤 𝙗𝙚 𝙥𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙡𝙚, 𝙖𝙣 𝙤𝙧𝙜𝙖𝙣𝙞𝙯𝙖𝙩𝙞𝙤𝙣 𝙢𝙪𝙨𝙩 𝙚𝙣𝙜𝙖𝙜𝙚 𝙞𝙩𝙨 𝙚𝙢𝙥𝙡𝙤𝙮𝙚𝙚𝙨. This, in turn, results in a great company culture. Which has always been important, but is nowadays critical, with so many employees leaving their employers, in search of something better. And they are not hesitating to do so. If an organization is experiencing issues with employee engagement, some or all of the following will be present: ✅ High turnover ✅ Inability to attract great candidates ✅ Low productivity ✅ Lack of creativity/innovation ✅ Low motivation ✅ Absenteeism problems ✅ Quality issues ✅ Low customer satisfaction ✅ High rates of safety incidents ✅ Poor Glassdoor reviews As a result, companies not only incur significant costs, but these issues also stop leaders from focusing on other important aspects of the business, itself a problem. Turnover alone has been estimated by SHRM to cost between 1.5-to-2 times the departing employee’s annual salary. However, the costs extend way beyond turnover:
On the other hand, there is significant ROI in engaging employees:
The good news is that it is possible to change things, as long as leaders are committed to doing business differently from now on. 𝙎𝙩𝙖𝙧𝙩𝙞𝙣𝙜 𝙬𝙞𝙩𝙝 𝙨𝙝𝙤𝙬𝙞𝙣𝙜 𝙚𝙢𝙥𝙡𝙤𝙮𝙚𝙚𝙨 𝙩𝙝𝙚𝙮 𝙜𝙚𝙣𝙪𝙞𝙣𝙚𝙡𝙮 𝙘𝙖𝙧𝙚, 𝙖𝙣𝙙 𝙩𝙝𝙚 𝙞𝙢𝙥𝙡𝙚𝙢𝙚𝙣𝙩𝙖𝙩𝙞𝙤𝙣 𝙤𝙛 𝙘𝙤𝙧𝙚, 𝙛𝙪𝙣𝙙𝙖𝙢𝙚𝙣𝙩𝙖𝙡 𝙥𝙧𝙖𝙘𝙩𝙞𝙘𝙚𝙨. In fact, according to Gallup, disengaged employees offer perhaps the greatest untapped potential for businesses to improve their profitability and performance. It has a very real impact on business success, and it should be considered a part of a carefully planned business strategy. Not only resulting in a more profitable business, but also one that any leader can be proud to lead.
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AuthorNia is passionate about engaging employees and cultivating compassionate cultures, a win-win for both employers and employees. Archives
January 2023
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