Why is employee engagement important?
A survey showed that only 17-29% of employees are highly engaged by their work.
A study of 8,000 business units in 36 companies found that companies that reported higher than average engagement had higher levels of customer satisfaction, productivity, brought in higher profits, and had less turnover and mistakes than companies with lower levels of engagement (Harter, Schmidt, & Hayes, 2002).
Molson Coors found that their employees that were engaged were 5 times less likely to have a safety-related incident, and when they did, it was not as serious and was less costly than compared to a disengaged employee (Vance, 2006).
Caterpillar worked on increasing employee engagement and recorded an 80% drop in grievances and a 34% increase in highly satisfied customers (Vance, 2006).
Employees should be empowered with the knowledge of how their daily activities/duties impact the organization’s success. Too often, organizations do not successfully bridge the gap between the vision of senior management and the rank and files daily routines. Empowering employees with this information connects them to the overarching mission of the organization, making them more happy and productive, and transitions them from employees to stakeholders. Do you want stakeholders or employees? Organizations that fail to have stakeholders have lower morale, productivity, and higher turnover.
Happy employees = productive employees
Engagement is a state of being or an employee’s emotional commitment to the organization and its goals.
Employee engagement: an individual’s involvement with, satisfaction with, and enthusiasm for, the work he/she does. To evaluate, as employees;
- If they have access to resources
- Have the opportunity to learn new skills
- If they feel their work is important and meaningful
- If their interactions with coworkers and supervisors is rewarding (26)
- Developing employee skills to meet future goals
Employees who are engaged are:
- More likely to refer a friend for employment at your company
- Less likely to think about looking for a job with another company
- More likely to work extra hours without being asked
- More likely to feel pride in your company
- More likely to be satisfied with their job
- Have consistently high levels of performance
Organizations with engaged employees have:
- Better service to customers
- Higher sales
- Better quality products or services
- Higher levels of employee retention
- Higher profit and happier shareholders
Quantum Delivers Results
Quantum can help propel your organization forward through evaluating how your employees operate and what tools and skills they need to be successful. Quantum can evaluate your employees’ current level of engagement and develop opportunities to improve engagement.