Any recruiter, manager or company director will know the obvious benefits of an engaged workforce. Less sick days taken, higher staff retention, increased productivity and a great working environment are just a few. What does an engaged workforce mean to your business in terms of facts and figures however?
- Only 3% of disengaged employees say that their job brings out their creative ideas compared to 59% of those who are engaged.
- 70% of engaged employees say that they pride themselves on their strong customer service compared to just 17% of disengaged workers.
- 78% of engaged employees would recommend their company to others whereas only 13% of disengaged staff would do the same thing.
- 80% of employees say that they would be happier in their job if they had more flexible work options. Although many employers find it hard to trust that their staff will actually work from home, flexible working has actually been found to make employees 39% more productive.
- More than half of a company’s ability to generate revenue depends on the positive productivity of its employees.
- Currently, only around one third of UK employees say that they are actively engaged at work and an incredible 20 million feel that they are not delivering their full capability or realising their potential in their role. A whopping 64% also say that they have more to offer in skills and talent than they are currently being asked to demonstrate.
- Companies with engagement scores in the top quartile report twice the annual net profit compared to those in the bottom quartile.
- Companies with high levels of engagement enjoy a turnover rate 40% lower than companies with low levels of engagement.
- The top sources of stress for UK employees which frequently leads to disengagement include a heavy workload, working long hours, technology enabling us to access work outside of office hours, lack of work/life balance, fear of job loss and inadequate staffing.
- Receiving a simple ‘thank you’ increases a person’s willingness to help again by an unbelievable 100%. 55% of employees strongly agree that the quality of their company’s recognition scheme impacts on their job performance and 42% of job seekers will consider a company’s reward and recognition scheme when deciding whether or not to accept a new job.
- People may initially take a job because of a tempting pay packet but they leave through a lack of recognition. In fact, 79% of employees who quit their job cite lack of appreciation as the main reason and 38% consider it to be the biggest hindrance to their productivity.
- Non-cash rewards such as gifts, vouchers or points have been shown to result in a 25% higher work performance over cash.
If you would like help or advice on engaging your workforce, please feel free to contact Choralis and we will be more than happy to help.