In my previous post I highlighted that in the United Sates less than one-third of employees are actively engaged, 50.8% are not engaged, and 17.2% are actively disengaged. Those employees that are actively disengaged are costing the U.S. economy as much as $605 billion each year. Imagine how much disengaged employees could be costing your organization. So, what can be done?
According to SHRM Foundation Executive Briefing Employee Engagement: Your Competitive Advantage – increased employee engagement at Caterpillar resulted in $8.8 million annual savings from decreased attrition, absenteeism, and overtime at one of their already established plants. Caterpillar also reported a $2 million increase in profit plus a 34% increase in highly satisfied customers at one of their start-up plants. This was achieved through employee recognition. Employees that feel invested in are more likely to invest in their organization and much less likely to leave.
In one of our previous blog posts People Are Alike All Over, employee recognition is shown to directly increase engagement and produce positive business value. At QIC, we design and manage employee recognition programs that produce higher levels of productivity, reduce turnover, strengthen financial performance, and improve customer service. There is a method to cultivating employee engagement, and the underlying principle is simple: developing a culture of appreciation is directly linked to consistent demonstration.
Want to encourage performance improvement, increase retention, and boost employee morale and engagement? Check out this QIC video about improving employee engagement through employee recognition, and contact us to find out more.
