The other day, we stumbled upon a good definition of employee engagement – on the Engage for Success website.
Employee engagement is a workplace resulting in the right conditions for all members of an organisation to give their best each day, committed to their organisation’s goals and values, motivated to contribute to organisational success, with an enhanced sense of their own well-being.
In short, employee engagement is how committed your tribe are to their jobs and to your company. And while engagement is to some extent down to them, as tribe leader, you also play a pivotal role. It’s your job to create a workplace they not only feel comfortable and confident working in, but can thrive in.
Here are five reasons why employee engagement should be a top priority for you:
1. Lower turnover
If your tribe feel content and satisfied in their roles, they are less likely to seek other opportunities elsewhere. According to Engage for Success stats, companies with high levels of engagement show a 40% lower turnover rate compared with those with low engagement levels. Make engagement a top priority and you stand a better chance of retaining all of your top talent, and you also save yourself the money of having to hire and train new recruits.
2. Greater productivity
It’s understandable that tribes work best when they’re engaged, with 59% of employees saying that their roles bring out their most creative ideas compared to just 3% of less-engaged employees. So, in this way, engaged employees are more likely to think outside of the box and innovate; which, in today’s business landscape, is what will propel your company forward and make you stand out among your competitors.
3. Happier customers
Happiness is contagious. So naturally, if your tribe are happy in their roles, it’s bound to rub off on your customers! Those customers are more likely to recommend you to friends and family, telling them what a great bunch you are! Companies which boast top engagement levels actually enjoy around 12% higher customer advocacy.
4. Fewer sick days
Mental health and physical health are closely interlinked. Our bodies work in mysterious ways; but when we feel happy and positive, we’re actually less likely to feel unwell or become ill. So, the more engaged your tribe are, the less likely they are to take sick days. According to data from Gallup, higher workplace engagement leads to 37% lower absenteeism, and perhaps more surprisingly, 41% fewer safety incidents.
5. A boost to your bottom line
Engaged tribe members are more productive and creative than their non-engaged counterparts, and they take less sick days and are likely to stick around longer. So it’s clear to see why companies with high engagement rates enjoy greater profits than those who don’t! In fact, Engage for Success says that they enjoy TWICE the annual net profit than companies with low engagement rates. That’s a stat you simply can’t ignore!
Care for your tribe and they’ll care for you and your company it’s as simple as that. If your tribe are engaged, they’ll become advocates of your brand and help to take your business to the next level, and then the next level, and then the next level, and so on!