Employee engagement has become the primary indicator of measuring work satisfaction and level of productivity. Organizations world over are taking the necessary steps to optimize employee engagement and boost ROI.
Employee engagement is generally defined as an approach taken by a business to improve the environment in the workplace, in order to make it as conducive to productivity and organizational success as possible. It is more than simply improving employee satisfaction. After all, the happiness of an employee does not mean that they will be just as motivated to work and achieve the organization’s goals. It is understanding what motivates employees with the end goal of improving overall employee sentiment in the workplace. More than ever, this is beginning to become one of the most important aspects of building and maintaining a brand/business in the modern enterprise. .
Let’s examine a few employee engagement definitions that fit the term in an apt way.
According to Gallup employee engagement is defined as “Engaged employees as those who are involved in, enthusiastic about, and committed to their work and workplace.”
According to Aon Hewitt employee engagement is "The level of an employee's psychological investment in their organization."
Here are some employee engagement stats for 2020 you really need to know:
- Nearly 66% of all employees are disengaged.
- Due to disengagement, staff turnover can cost businesses $3.8 billion monthly
- 47% of employees actively looking for a job say that they would prefer working for a company with an established and thriving culture.
- The behaviors of businesses with highly engaged employees result in 21% greater profitability.
Benefits of Employee Engagement
By now you already know that employee engagement can increase profitability and decrease turnover but there are so many more ways in which employee engagement can benefit businesses.Here are some of those key benefits:
- Happier Employees - The first and most obvious benefit is of course that your employees will be much happier as individuals, which leads them to work better with their colleagues and peers. They also refrain from switching to unneeded high-stress behaviors.
- Higher Loyalty and Retention - Engaged employees are satisfied with their environment, growth, and work. Because of this, they tend to stick with their employer for as long as possible, thus increasing retention and helping businesses save billions in turnover costs.
- Increased Productivity and Higher Quality of Work - Engaged employees put more effort and focus as well as use their entire skill set to complete their tasks. In other words, they are more invested in getting the job done. They work better, smarter, and at a higher optimal rate.
- Increased Sales and Better Customer Service - Engaged employees are more likely to provide better service to their customers, reflecting their engaging nature and engaging their customers just as much. Club higher productivity with great customer service and your sales will skyrocket.