There are some staggering statistical facts out there relating to workplace culture and employee engagement and many corporations are starting to realize that these are key factors behind business performance.
The Facts
90% of leaders think an engagement strategy will have an impact on business success but only 25% of them have a strategy. (1) While financial incentives may initially attract more applicants to a particular company money is rarely the reason why employees stay with that company in the long run. There’s a reason why some organizations have a reputation of being great places to work and it is not solely based on salary. The level of commitment by the company towards its staff can make or break any organization.
89% of employers think their people leave for the money; 12% of employees actually do leave for the money.
Highly engaged employees are 87% less likely to leave their companies than their disengaged counterparts. 69% of disengaged employees would move to a new employer for as little as a 5% pay increase, whereas it would take a 20% increase in salary to attract an engaged employee. (2)
While disengaged employees cost employers time and money, engaged employees drive business. The twenty-nine percent of workers who are fully engaged do more in less time than their colleagues. The resulting benefits are felt within the organization and beyond: greater productivity, increased customer satisfaction, repeat business, and higher profit for the organization and its shareholders.
Given these facts, it is surprising that 75% of organizations have no engagement plan or strategy, although 90% say engagement impacts business success.
Through positive attitudes and actions corporations can build a culture of engagement that involves and inspires all employees. This is part of the ultimate bottom line.
