Having an engaged workforce is absolutely critical in today’s competitive professional landscape. When employees feel passionate about their jobs, feel comfortable in their workplace environment and feel aligned with a company’s goals and mission, great things can happen. Recent figures have found that 71% of organizations believe that employee engagement is critical to their success – however, only a meager 15% of employees say they feel engaged at work.
This discrepancy indicates that there is some work to be done when it comes to the commitment and engagement of the average workforce. There are a number of elements that can contribute towards a more engaged employee base, including facilitating a positive workplace culture, encouraging open communication and providing thorough training.
Here are some of the top reasons why workplace engagement is not just a nice-to-have, but a must for every successful organization, and how to foster engagement in your management strategy.
More commitment to the organization
Perhaps one of the biggest benefits to having an engaged workforce is the subsequent dedication to the job and company in question. When employees are invested in their jobs, they are much more likely to do better work and be committed to the overall goals of the company. Commitment to a company translates to more productivity, more attention to detail, fewer mistakes and less likelihood of employees quitting – no downsides here!
Having a team that is collectively working towards the same goals is integral to the overall success and bottom line of any company, big or small. A recent study estimated that a disengaged workforce costs U.S. companies anywhere between $450-$550 billion a year in lost profits – all the more reason to strive for an engaged team.
Higher employee retention rates
Employee turnover is one of the costliest events that can occur in the employment process. Even when working with temporary or contract employees, the less frequently you have to replace them, the better. One of the best ways to potentially reduce the likelihood of turnover is to make sure your workers are engaged right from the start, with strong onboarding, training and putting in continuous effort to foster an open dialogue between employee and manager.
The connection between engagement and retention is undeniable: recent numbers have found that highly engaged businesses experience 59% less turnover than their unengaged counterparts, and employees that are engaged are 87% less likely to leave an employer.
A happier workforce is a more productive one
There is something to be said about having a team that comes to work every day that truly enjoys their jobs. Employee engagement goes hand-in-hand with job satisfaction – people are simply more likely to put greater effort into jobs that they like. Job satisfaction and having a happy team is also proven to be associated with higher productivity and even higher profitability.
Managers can take care to ensure employee happiness and engagement right from the get-go with comprehensive onboarding and training. When an employee’s roles and responsibilities are clearly outlined in their first few days or weeks, it will be that much easier for them to settle into the position.
Recognize your employees’ achievements
One of the biggest reasons why employees leave their jobs has nothing to do with salary or benefits. More often than not, employees feel disenfranchised when they do not feel recognized or valued for the work that they do. In fact, a recent study found that employees that don’t feel recognized are almost twice as likely to be actively looking for other opportunities.
Finding ways to make employees feel valued is a great way to boost engagement in the workplace. Recognizing achievements, offering incentives and giving shout-outs publicly to your workers are low-cost, high-impact ways to improve workplace morale and give respect to your hardworking staff.
Working with a staffing agency to find qualified and hardworking candidates is another way to ensure employee engagement! Contact us today to learn more about how Select Staff can help.