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Why Employee Engagement Is Such a Big Deal?
The recession has taken its toll, with sluggish growth, with all-time high unemployment and sharp spending cuts by businesses and consumers, employees are struggling to adapt to the new climate. Employee engagement continues to be an important predictor of company performance even in a tough economy according to the study done by Gallup. Engaged employees are the ones who make the difference by connecting emotionally to the company, making strong contributions to the teams and organisation.
Of the approximately 100 million people in America who hold full-time jobs, 30 million (30%) are engaged and inspired at work, roughly 20 million (20%) employees who are actively disengaged costing the U.S. an estimated $450 billion to $550 billion annually in lost productivity. The other 50 million (50%) of American workers are not engaged. They’re just kind of present, but not inspired by their work or their managers. If your company is on that list, it impacts your bottom line.
Managers and executives have the strongest influence in successfully engaging their employees. The best managers recognize and understand the fundamental differences among their team members and think about its implication for the workplace. During day-to-day interactions managers should find ways to communicate interest in employees, by inquiring about their work and other important aspects of their lives. By creating a culture of well-being in the workplaces, companies not only help their employees become more engaged, they also help them personally to thrive.
Researchers at Gallup studied the relationship between employee engagement and performance outcomes across 192 organizations in 49 industries and 34 countries. They found that those scoring in the top half on employee engagement nearly doubled their odds of success compared with those in the bottom half.
Companies have to take meaningful action to improve the levels of employee engagement and maximize its performance outcomes by focusing on the key drivers:
Manager selection: Choosing the right managers in an organisation has an immediate effect on employees’ engagement. Great managers have talent for supporting, positioning, empowering, and engaging their staff.
Employee selection: By selecting the right employees for any role, companies can strategically boost engagement. The best managers know who their standout employees are and would hire more because they influence others with their commitment to achieving organizational and team objectives.
People want to feel supported, have a sense of belonging, and understand the contribution they can make toward organisational goals. The key to drive the employee engagement is to make sure interactions between manager and team members happen. Engagement is all about people who create a culture that fosters high performance.