Benefits of an Engagement program
Employee engagement is a big deal in corporate America. As more and more Millennials enter the workforce, a bigger emphasis rests on employee engagement and work-life balance. Keeping employees engaged can give an organization an edge to stay ahead of their competition because highly engaged employees are more likely to stay with their organization.
A 2016 Gallup survey showed that organizations that focus on employee engagement have:
- • 41% lower absenteeism
- • 42% lower turnover
- • 70% fewer employee safety incidents
- • 17% higher productivity
- • 20% higher sales
- • 21% higher profitability
Great employees are engaged in their work, and the company benefits. But what happens to an organization when the employees are disengaged?
According to the Gallup survey, actively disengaged employees cost businesses in the U.S. an estimated $483 billion to $605 billion each year due to lost productivity. Disengaged employees are discontent and negative, which can negatively impact those around them: coworkers, employers, and ultimately customers.
So what can you do about disengaged employees? Start a recognition program!
Starting a recognition program can help. Recognition programs have been proven to increase employee satisfaction, which is one key factor in employee engagement. When a recognition program links to an organization’s business strategy, it has a direct impact on the bottom line.
These programs help companies financially, but they also affect the culture of an organization.
Recognition programs keep employees engaged. Recognizing employees for a job well done shows them that they make a difference. When an employer reaffirms positive behaviors, employees are more likely to repeat those behaviors which keep them engaged in their work.
Recognition programs also help reduce turnover. Engaged employees are 50% more productive than disengaged employees which leads to higher customer loyalty and higher profits because customers want to work with employees that like their jobs.