Employee Engagement - Do you assess or address?
In a recent article for Industry Week Joyce L. Gioia made the point that employee engagement has a direct impact on creativity and productivity and by extension, your bottom line profitability.
There are plenty of scary numbers that should get our attention, that 66% of employees are not and 60% are actively looking for work perhaps chief among them.
But Keith Ayers has some math on this that's especially compelling.
- If we assume that 66% of our employees are giving 50% effort for what they are paid then 33% of payroll is pure cost.
- If we assume that average pay and benefits per employee is $50,000 then the annual cost of dis-engagement for a 500 person company is $8,250,000.
In my view, there's a gap in the way most organizations address employee engagement. For most, it's a survey, an exercise that is cost prohibitive for many and more importantly, provides neither a framework for implementation nor alignment with business objectives. Simply put, I think that employee engagement is something we ASSESS rather than ADDRESS.
This has a material impact every minute you delay whether you have 500 employees or 500,000.
Interested in a 30-minute peek behind the firewall at how our customers actually address employee engagement?