How much of your payroll is cost?
Did you know that Gallup estimates that lost productivity comes with a price tag of 300 billion? When you add turnover, that number rises. It’s estimated to cost almost double a departee’s salary to find and train a replacement.
Not all disengaged employees will leave however. Some will stay and ‘go through the motions’ for a paycheque. While receiving 100% of their salary they may give, for example, 50% effort. This means that a significant portion of payroll is pure cost, with no return on investment.
So what are you doing to stem the tide? Is it business as usual? Are you rolling out the annual employee survey again to take a snapshot of where your employees are? Or, are you interested in actually engaging your employees - today, and every day.
I encourage you to read up on how MWV went for what was behind door # 3 and gave 17,500 global employees a voice and made a disconnected workforce a community.