Employee Engagement isn’t just a business buzzword; it can mean the difference between growth and stagnation.
Even if you’re unfamiliar with the research surrounding Employee Engagement, you probably instinctively understand many of the benefits. Working with employees who have a strong mental and emotional connection to the company is more pleasant, more productive, and more rewarding for everyone.
But, most leaders aren’t willing to invest in an Employee Engagement strategy based on instinct alone. Thankfully there are many evidence-backed Employee Engagement benefits that will improve not only your work environment, but also your bottom line.
What is the ROI for Employee Engagement
What kind of returns can you expect to see when you invest in an Employee Engagement strategy? High engagement can have a positive effect on just about any metric you care to measure, from happier employees to higher stock prices.
Here are the top five benefits your company will enjoy from improving Employee Engagement.
Employee Engagement and Workplace Health and Safety
Engaged employees look out for themselves, each other and the business. According to recent Gallup research, businesses with engagement scores in the top quartile have 70% fewer safety incidents compared with bottom-quartile businesses. When workers are committed to the company and its goals, they tend to be more committed to its safety standards, as well.
Not only are engaged employees safer, they are also healthier. Engaged employees are less likely to suffer from illnesses and more likely to make healthy choices. Why? Positive, flexible work environments mean less stress, and stress is a very strong indicator for health. Plus, workplaces that value engagement tend to show more consideration for their employees needs in general, from good benefits packages to healthier lunch options.
Employee Engagement and Retention
You invest a lot in training new employees, reaping great rewards when they invest their passion and talent back into your company. But, with changing workplace expectations, competition for top talent is fiercer than ever. That’s why it’s increasingly important to give employees every reason to stay. Workers want to feel challenged and fulfilled. They want to feel like they are making a meaningful contribution to the success of a company. Increasing their engagement will ensure they don’t have a reason to look elsewhere for work.
Employee Engagement and Excellent Customer Service
Today’s consumer has high expectations. They are looking for service that’s quick, helpful and highly personal. With the explosion of self-service e-commerce solutions, much of the burden of these expectations is being met by technology. But employers that see this as a reason to neglect the customer service and selling skills of their employees are putting themselves at a big disadvantage.
Consider that 86% of buyers are willing to pay more for a great customer experience and 67% of customers mention a bad experience as a reason for churn. Having engaged employees that care deeply about their jobs and know how to provide great service will help grow your share of satisfied, loyal customers.
Employee Engagement and Productivity
Stimulating an employee’s enthusiasm for work helps direct their energy toward organizational success. Taking an employee from simply “reliable” to “actively engaged” can mean a significant boost in the amount of effort they put into their work.
In complex positions such sales, the improvement in output can be as great as 120 percent! Not only are engaged employees more willing to work hard, they are better able to focus. Someone with an emotional connection to their job will be less susceptible to distractions and boredom as they lose themselves in the work that they love.
Employee Engagement and Higher Profits
The bottom line is companies with engaged employees outperform their competition. They experience more growth, have higher earnings per share and are more resilient during difficult economic times. When you consider all of the benefits listed above, it’s not hard to see why. Engaged employees are advocating for your brand and making more sales. They are coming up with new ideas and increasing your innovative edge. They are safer and healthier, reducing your healthcare costs. Employee Engagement is a key differentiator in nearly every aspect that make a successful business.
Realize the Benefits of Employee Engagement
Is it an employer’s place to help their employees find meaning and motivation in their work? If you want a healthy, thriving company, the answer is definitely, “yes!”
Businesses and employees already have expectations for a certain amount of time and a level of output, but if you want a worker’s passion and dedication, you’ll have to work hard for it. Once you’ve made a commitment to employee engagement, and implemented a strategy to nurture and increase engagement, you’ll quickly see the benefits.
Want to know more, or see how you can create a targeted engagement strategy for your employees? Contact the experts at GO2 Partners to discuss how to implement an employee engagement strategy for your business.