Jan 23, 2015 | Blog

3 Ways Employee Engagement Will Lead to Success in 2015

Engage Your People

It's a new year and that means new goals. Leaders are no doubt setting their sights on a more productive, efficient and innovative workforce, yet there's one key component they're probably overlooking: employee engagement.

Disengagement costs the US economy almost $550 billion per year in lost productivity—a price that will dramatically impact the bottom line.  

Competing in today’s economic environment is more difficult than ever, but an engaged employee is your best-kept secret. Here’s how engaged employees will be the key to success in 2015:
 

  • Engaged employees = happy customers

How your customers feel about your company is a direct reflection of your front-line workers’ engagement levels. With 68 percent of customers revealing that they won’t give repeat business due to bad service, companies need to boost engagement among their workforce to ensure customer happiness.

What to do: Increase transparency on how customer interactions impact the bottom line, and how employees drive those interactions.
 

  • Engaged employees are present and productive

It may seem obvious, but companies overlook the fact that disengaged employees find excuses to skip work. Total costs of related to absenteeism amount to $84 billion annual; but a decrease of only 10 percent in employee absence could produce a one to two percent savings in payroll costs.

What to do: Get employees in the habit of regularly recognizing each other to make work a rewarding place to be, encourage productivity and draw attention to being present.
 

  • Engaged employees drive results

Companies with engaged employees drive profits as much as three times faster than their competitors. Yet a disengaged employee costs an organization approximately $3,400 for every $10,000 in annual salary.

Action item: Sync employees with the organization’s objectives so they understand how they contribute to the business.

Learn more about how you can engage employees this year and turn a profit by downloading The Cost of Disengagement to Your Company.