How engaged are your employees, managers and leaders? How widely known is your vision, mission, strategy and values across your organisation and how committed to these are your entire workforce? How much does your vision, strategy and values influence your teams and individuals on a daily basis as they perform in their roles and how much do your employees understand their purpose and contribution to the achievement of your vision?
Knowing the answers to the above questions are crucial to organisational performance, as much as it is crucial that your leaders and managers are also equipped with the right skills. attitudes and behaviours to engage their teams effectively.
- The Corporate Leadership Council reported that engaged organisations grew profits as much as three times faster than their competitors. They report that highly engaged organisations have the potential to reduce their staff turnover by 87% and improve performance by 20%.
- Shifting levels of employee engagement upwards also correlates with improved performance. For example, Gallup research for a UK retailer with 174 stores in a study over two years concluded that stores that improved engagement year on year grew their profits by 3.8%. Stores that did not improve their engagement saw their profits decrease by 2%.
- The Chartered Management Institute Quality of Working Life 2007 research programme found a significant association and influence between employee engagement and innovation.
- A Watson Wyatt study of 115 companies suggested that a company with highly engaged employees achieves a financial performance four times greater than companies with poor engagement. They also reported in 2008/9 that the highly engaged are more than twice as likely to be top performers – almost 60% of them exceed or far exceed expectations for performance. Moreover the highly engaged missed 43% fewer days of work due to illness.
- Gallup found that engagement levels can be predictors of sickness absence, with more highly engaged employees taking an average of 2.7 days per year, compared with disengaged employees taking an average of 6.7 days per year.
- IES (Institute for Employment Studies) in their 1999 study from People to Profits found a link between employee satisfaction, customer satisfaction and increases in sales, based on a study of 65,000 employees and 25,000 customers from 100 stores, over two years. Employee commitment acted on sales through three routes: directly on sales, mediated through customer satisfaction, and through reduction in staff absence. They concluded a one per cent increase in employee commitment (using a five point scale) can lead to a monthly increase of 9% in sales.
- Hay Group in their publication Engage Employes and Boost Performance 2001 conclude that engaged employees generate 43% more revenue than disengaged ones.
How MBHR Consulting can help
We can help in a number of ways, whether it is helping you to undertake a baseline assessment of your existing engagement levels from the top to the floor, developing action plans to drive up engagement in the future or delivering leadership and management training to up skill your leaders and managers we have the skills and expertise to assist in your needs.
To discuss your organisations needs please contact us.