Corporations with high employee engagement perform better than companies whose employees are not by over 200%.
When employees are engaged at work, they feel a connection with the company. They believe that the work they’re doing is important and therefore work harder.
According to Gallup, the lack of employee engagement costs American businesses anywhere from $450 billion to $550 billion a year when workplace accidents, absenteeism, and larger heath care costs are factored in. This massive chunk of money could significantly shrink if more companies emphasized employee engagement.
Engaged employees are less likely to quit
If you’re completely happy and content in a relationship, why would you break up with your significant other?
You probably wouldn’t.
The same principle goes for employees’ relationships with their employers. Nearly $11 billion is lost due to annual employee turnover.
But, if the members of your team are engaged and feel appreciated, they are less inclined to look for other employment opportunities. Fostering a culture of employee engagement can be the key to reducing turnover rates and boosting employee retention.
Engaged employees are positive
Workers who feel disconnected and disengaged are more likely to have negative things to say about your company. If a disengaged employee leaves or is fired, they are able to vent their frustrations on any number of social forums and sites.
Because negative feedback tends to be magnified more than positive, your company’s reputation and credibility could be damaged due to a single disengaged, disgruntled employee.