Why is it a critical business necessity to engage your workforce more proactively?
Retaining and engaging your workforce requires constant diligence in ensuring your organization’s employee experience produces productive, challenged and committed people. As important is the fact those organizations with highly engaged employees perform much better than those who don’t.
- TOWERS PERRIN discovered that high engagement firms grow their earnings-per-share (EPS) at a faster rate (28%) while low engagement firms experienced an average EPS decline of 11.2%
- THE CENTER FOR HUMAN RESOURCE STRATEGY at Rutgers University found that highly engaged business units were on average 3.4 times more effective financially than units that were less engaged.
- HEWITT found that highly engaged firms had a total shareholder return that was 19% higher than average. In low engagement organizations, total shareholder return was actually 44% below average.
Recent studies also show that the vast majority of employees self-report that they feel disengaged from their organization and their work.
- THE HARVARD BUSINESS REVIEW reported that 70.2% of workers reported themselves as disengaged costing companies $350 Billion a year in hard and soft costs
- A USA TODAY poll reports that 73% of the employees surveyed are open to new job opportunities at another organization.
- AN ADOBE survey of 1,328 office workers, relates that 22% cried after their performance review and 20% then quit.