Well by now all of you who read my blogs will know I love anything to do with staff and customer engagement. The trends, stats and headlines regarding the positive impact higher levels of engagement can have on your business. Sad I know!
So, how excited was I when I found out a voluntary movement had been created, dedicated to the principle that having engaged employees is the best way to work, called Engage for Success. The aim was to be a motivating force for improvement that is comprehensive, realistic and provides user friendly data. Their research paper, The Evidence, combines evidence from academic research and secondary data compiled by Towers Watson, Kenexa, Hay, Aon Hewitt and Gallup.
Their conclusion is that there is “No doubt about the statistical importance of engaging employees and that as well as performance and productivity, employee engagement impacts positively on levels of; absenteeism, retention, levels of innovation, customer services, positive outcomes in public services and on staff advocacy of their organisation.”
Across the board, the results are pretty compelling:
Net Profit – 2 times annual net profit from companies with top quartile engagement scores compared with those in the bottom quartile.
Customer Satisfaction - 12% higher customer advocacy from companies with a top quartile engagement score.
Revenue Growth – 2.5 times higher revenue growth from organisations in the top quartile of engagement scores than those in the bottom quartile.
Productivity – 85% believed that efforts to engage employees at the world’s most admired companies had reduced employee performance problems. (Hay 2010).
Innovation – 59% of engaged employees said that their role supported their creativity against 3% of those less engaged.
Absence – 2.69 average sick days a year from engaged staff against a 6.19 from disengaged.
Health & Safety – 62% more accidents within organisations with engagement in the bottom quartile.
Turnover – On average 40% lower turnover rates within companies with higher engagement levels.
Over all, the results from a Towers Watson survey has shown that only 27% of UK employees are highly engaged, compared with a global average of 35%.
So you think you have engaged staff? A big pat on the back to you. If not, why not? You have got to admit these stats are pretty convincing.