Research on the ROI of employee engagement has proven time and again that organizations that create an engaging environment perform better than their competitors. Results show that engaged companies:
- Experience a 19.2 percent growth in operating income (over a 12-month period)
- Grow profits as much as three times than their competitors
- Have employees that are 87 percent less likely to leave the organization
- Have two times higher productivity
- Show as much as a 55% increase in customer satisfaction scores
Executive leadership can improve employee engagement by implementing some of these seven simple and low-cost initiatives that will drive organizational performance.
- Communication efforts that connect workers with the direct results of their work
- Clear vision and direction
- A corporate culture that reflects and promotes a set of widely held, clear values
- Inviting and acting on employee ideas and feedback
- Attention to satisfaction factors such as compensation, perks, and physical security
- Programs that help employees develop new skills and pursue innovative ideas without the fear of failure
- Allowing employees to better control the conditions of their environment
These initiatives work provided they are based on an intimate knowledge of what your employees care about, what motives them, and what they hope to get from work beyond a paycheck. It’s the responsibility of leadership teams to create the atmosphere where employees are able to engage. There are as many strategies and tactics that can inspire employees to engage as there are different kinds of organizations, and not all need to be radical or costly.