There’s no denying that employee engagement numbers have been abysmal for the last few years but did you know that the engagement needle hasn’t moved in sixteen years? Disengaged employees are still leaving their jobs and while there are numerous reasons why, the most common explanations employees give when resigning are for career growth, pay and or benefits, issues with management, company culture or job fit.
According to the recent Gallup Report, State of the American Workplace, “51% of U.S. employees say they are actively looking for a new job or watching for openings.” That means that more than half of your employees could have one foot out the door already. And with hiring on the rise, employees have good reason to feel confident about finding work elsewhere.
The key take away in this report is that “to win customers – and a bigger share of the marketplace – companies much first win the hearts and minds of their employees.” When you have disengaged employees, not only do you have a higher turnover rate but you’re also more likely to have higher incidents of workplace accidents and absences caused by stress which can ultimately greatly impact your bottom line.
In Gallup’s research, they found that the vast majority of workers in the U.S. (70%) are not reaching their full potential – a problem with significant implications for American companies. Are your people getting the support and coaching they need to do their best? Happy and content employees that feel respected in the workplace create better quality work, greater contributions and commitment to their jobs.
Despite our best efforts, employee engagement is still a major hurdle for most companies. In this age of talent shortages and high turnover, it’s imperative that employers understand what truly drives their staff’s satisfaction levels and which factors influence their departures. Few things are as costly and disruptive as good people walking out the door. Losing an employee means bearing the costs of recruiting, hiring, training and lost productivity all of which can wreak havoc on your day-to-day business operations.
Your approach to employee engagement should be tying into the most common reasons for employee resignations. If you want your best people to stay, you need to think carefully not just about how you develop them but about how you keep them wanting to stay. It’s been proven time and time again that engaged employees have lower turnover, lower absenteeism, higher productivity and higher profitability. It’s time to step up your employee engagement plan.