The value of an engaged workforce

A disengaged workforce can negatively affect turnover, culture and performance. So naturally every manager in the know understands how critical it is to have a team of highly committed workers. Employees who are engaged are more invested in accomplishing the objectives of the company, are more loyal and more passionate about their work, and that often manifests itself in creative thinking and innovative outcomes. Such results can only benefit your bottom line. So with the ultimate workforce, what could you achieve?

If you’re a little sceptical about the variance between a dedicated worker and one that shows up just to collect a pay cheque, let’s look at the stat’s from research firm Hay Group. Hay Group found that employees who were committed and enthusiastic about their job role were 43 per cent more productive than their counterparts who simply worked their way through the motions each day, not really happy within their position. That’s a significant difference in productivity rates! Imagine where your workforce could be if all your employees were devoted and keen to perform well in their role.

Beside significantly higher productivity levels, what other advantages does an engaged workforce bring? Well, if one is interested in their job, they are less likely to venture elsewhere. A high employee retention rate is a great achievement. I’m sure you’re all familiar with the expense and headache of constantly turning over staff. Argh, who wants to train five staff to perform the same role in an eighteen month period!? If you are lucky enough to have a workforce that is committed to your company’s philosophy you are likely to be known as an employer of choice. And that is when is when the best talent comes knocking on your door, whether you have advertised a new job role or not. What more could you achieve if the cream of crop was working for you?

The best of the best are often the most innovative and creative. And they pull others up with them, leading them to think laterally and project ground breaking schools of thought. For those of you fortunate to employ progressive thinkers, you understand the benefits of benchmarking industry. Those of you who have stood still for too long will unfortunately know the reality of watching others improve their products and processes as the gap between you and them widens. Your employees know what your customers want. Allowing them the liberty to create solutions that benefit your customer base will draw a closer alignment between your staff and your organisation’s goals. Giving employees ownership in the direction the company is travelling will result in your staff having a vested interest in the long term future success of the organisation. You’ve heard of collaboration haven’t you? You have probably also noticed the effects of an isolated employee, one who is not engaged, whose potential is not maximised.

Obviously an engaged employee is a satisfied employee. And what can that do for your business? A happy employee is one that speaks about their work and their employer in positive terms. And they are willing to share these positive affirmations, almost boasting, to all those willing to listen. You may know them as brand advocates. With an average of ten times more social connections that your company’s brand, your brand advocate can attract new clients and talent to your doorstep. Who can’t resist being pulled in by a passionately spoken individual who only has great things to spruik about your company?

Here’s a fun fact for those fascinated by the strange and unexpected…an engaged workforce is likely to have a safety record five times better than a workforce that is not. Why? Simple. Engaged employees are more vigilant and attentive to detail.

Now of course we cannot ignore the obvious benefit, financial. If your employees love their job, are enthusiastic about showing up each day and performing at an optimal level, and as per the company’s vision, then ultimately your bottom line will spike. Up. Another research firm in Watson Wyatt discovered that companies with high degrees of employee engagement generated revenues that were an average 26 per cent higher than others. Clearly it pays to have an engaged work force. Literally.

In today’s competitive business environment, any edge over your competitors is worth the investment. So my question, and perhaps challenge to you, is how are you going to increase employee engagement in your workplace?