March 10, 2013
Every employer hopes to hire and retain enthusiastic and productive workers. But in the digital age, employee engagement is becoming increasingly challenging.
In a survey of more than 2,400 U.S. workers at for-profit companies, 57 percent of employees described themselves as moderately or highly engaged in 2012. This leaves nearly half of the workforce showing signs of under-engagement and a great number of employers experiencing the downside of disengaged employees. Research on the bottom-line benefits of employee engagement shows that companies boosted operating income by 19 percent compared with companies with the lowest percentage of engaged employees, who saw their operating income decrease 33 percent.
If your tech employees are suffering from a lack of engagement, it could be costing you more than you think. When it comes to the actual dollars disengagement is taking from a company — studies estimate it’s costing upwards of $370 billion in lost productivity annually.
It’s time to begin working toward a more engaged staff. Here are just a few benefits you can gain from keeping your tech employees engaged:
1. Improved work ethic. If your staff is lacking the necessary motivation to go the extra mile in all of their tasks, low engagement may be the culprit. Engaged employees are twice as likely to stay late at work and recommend improvements. In fact, 96 percent of engaged employees say they always or almost always put forth their best effort for their company. Not only will your employees be working hard for you, they’ll also being do so with enthusiasm and excitement for their tasks.
2. Greater job retention. Highly engaged employees are going to stick around for the long haul. If you’re having issues with high turnover rates at your company, it may be time to assess whether your employees are truly engaged in their work. Workers who love their company and the work they’re doing in their position are more likely to spread the word to their friends and networking connections. This may even have the potential to boost your recruiting methods when it comes time to grow your team.
3. Flourishing company culture. With increased engagement comes increased passion for organizational values. Happy and driven employees will nourish your company culture in new ways. Your workers will not only be proud to be a part of your team, they will also advocate your products and services with a new sense of dignity. The companies with the most notable values and culture often have the most dedicated and engaged staff.
4. Increased efficiency. As employee engagement rises, so does company efficiency. When your staff isn’t scrambling to head home as early as possible and is actually enjoying their time on the job, they’re going to want to work harder and in a more timely manner. Increased engagement leads to less employee distraction, more eager volunteers for challenging tasks, and the chance for better ideas and greater achievements for the organization as a whole.
5. Overall competitive advantage. If you’re looking to get ahead of your competition, an engaged workforce is the secret ingredient for success. Studies have found that on average, companies with a highly engaged workforce rate 86 percent higher with their customers. They are also 70 percent more likely to have higher productivity, and enjoy higher profitability. There’s a clear relationship between a company’s financial performance and the enthusiasm of those they employee.
Making improvements to your employee engagement efforts is a must, especially when it comes to thriving in the technology industry. Continually seek out new ways to engage your employees so you can reap the benefits of their happiness and motivation.
How do you keep your employees engaged?
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