BLOG: FINDING YOUR ONE-IN-THREEDec 16, 2022
FINDING YOUR ONE-IN-THREE
For the second year in a row, the Gallup Engagement Survey shows that EMPLOYEE ENGAGEMENT is trending down, while the percentage of disengaged employees is increasing. If you think that is not a big deal, think again. Employees who are NOT ENGAGED or who are ACTIVELY DISENGAGED cost US Businesses $350 BILLION a year in lost productivity, and extended across the globe, that number jumps to $7.8 TRILLION!
It’s no surprise that organizations with a highly engaged workforce perform better than their competitors in many key areas. A recent study in the UK found that these companies had almost 20% GROWTH in OPERATING INCOME in a 12-month period, while they grew PROFITS 3x faster than their competitors. Additionally, the Corporate Leadership Council studied the engagement of 50,000 employees around the world and found highly engaged employees are 87% less likely to leave their organization.
As you read this, realize that on average less than ONE-IN-THREE employees are engaged in their work. I’m not talking about being happy or satisfied, but emotionally committed to the organization and their team. That is a scary ratio for any #businessowner, #entrepreneur, or #seniorleader, because they are still responsible for EVERY employee’s salary, benefits, equipment, development, etc.
So, what can you do to improve your odds of success and increase engagement? How can you improve the return on the investment you make in your employees? After all, shouldn’t commitment be a two-way street?
Some people naturally engage in what they do, especially if they are passionate about the work. These employees likely make up the majority of the ONE-IN-THREE that are already engaged and committed to your goals.
For the large number that feel like their engagement needs are not being met, and essentially are just putting time – but not energy or passion – into their work, there are still actions we can take as leaders to reach and help them find the engagement and motivation to succeed inside your organization. Consider these your FOUR DRIVERS OF ENGAGEMENT, simple actions you can take every day to boost the energy and passion of your workforce over time.
- Let people know you value them and appreciate their contributions.
- Define those contributions in a meaningful way that connects their work to the team’s goals and results.
- Reinforce that connection to others on the team and create a sense of belonging and inclusivity.
- Foster each person’s desire to learn and grow in a way that supports their career goals and aspirations while showing them how they can succeed inside the company.
The bottom line: If you want to bolster productivity and profitability, increase customer loyalty, and cut attrition and disengagement losses, you must engage your employees. And that means finding your ONE-IN-THREE and then adding more to that number by using the FOUR DRIVERS OF ENGAGEMENT.