A 2014 Gallup survey found that more than 70% of Australians were disengaged at work. At the same time we know that Australian businesses invest billions in annual leadership training and leadership development initiatives. So why are trained leaders failing to engage their people?
While I only have information from this survey of Australian businesses, I have worked in other countries around the world and I can assure you that while the quanta may be different, the truth is that the vast majority of people at work feel disengaged. If this is a worldwide trend, then businesses are investing significant resources into something that is not providing them with anything like the desired outcome.
First of all, let’s look at what benefits employee engagement can bring to your company. These benefits are true whether or not you have several tens of people working for you or several hundreds, or even if you only have 2 or 3 employees. True engagement isn’t just “happy” or “satisfied”. True employee engagement means that the employee has an emotional commitment to the employer and its goals that will result in more discretionary effort. It is the difference between someone doing their job as expected or even well, and someone providing discretionary effort to do their jobs as if it enriched their own lives. In terms of service and sales, customers know the difference between someone loving what they do and someone who is competent at it, and it brings extra customer satisfaction.
Engaged employees are more productive, going the extra mile because they see the success of the company as having meaning to them. Their motivation leads to higher productivity. Studies show that offices with engaged employees were up to 46% more productive. Engaged employees lower the risk of employee turnover because they are more invested in the long term success of the company, thus avoiding loss of experience and decreasing costs of retraining and recruitment.
And if you think that’s only biting around the edges, Standard Chartered Bank found that branches with increased levels of employee engagement had a 16% higher profit margin growth than branches with decreased levels of engagement.. It actually affects your bottom line.
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