We could talk for hours about why employee engagement is great for all of the involved parties, but the truth of the matter is that numbers speak louder than words when it comes to business.
So let’s talk numbers.
Companies with engaged employees report 250% more revenue than companies with low employee engagement.
A study of dozens of top organizations found that organizations with highly engaged employees achieved twice the net profit as companies with lower engagement.
Disengaged employees cost organizations between $450 and $550 billion annually (The Engagement Institute) due to sick days and other means of productivity loss. That’s a lot of money.
The bad news is that an estimated $11 billion is lost to employee turnover each year. (Dale Carnegie Institute) and that It can cost a whopping 33% of an employee’s salary to replace him or her (HR Dive)
The good news is that 75% of the causes of employee turnover are preventable (HR Dive) and highly engaged employees are 87% less likely to leave their positions.
There is huge potential for companies with vision to employ an engagement strategy. Not only to help boost company performance, but to attract top talent from around the world.
90% of leaders think that an engagement strategy has an impact on business but less than 25% actually have one.