Turnover & company loyalty
Businesses with great company culture and a workforce of enthusiastic, engaged employees is more likely to be able to retain talent. Research has established a strong correlation between low engagement and turnover. If people are invested in their work and don’t just skate by in order to get their monthly paycheck, but genuinely love what they’re doing, they are more likely to spend a longer period with the company and invest their efforts there.
It’s pretty simple: if people are engaged at work, they’re going to put in more effort, and therefore do a better job. With research finding that businesses with engaged employees have 51% higher rates of productivity, and that highly engaged employees take less days of absence, the effect that engagement has on people’s performance is clear.
It’s not limited to those inside the company, either. Engagement also largely influences factors like customer satisfaction. It’s clear to customers when they are speaking with someone who really believes and values the company, it can also impact how enthused the customer feels about doing business with the company.
A successful business
Having a company full of engaged employees who are openly passionate about their work also builds its reputation as a great place to work; something that is becoming more and more important to the modern employee. Branding your business as somewhere which maintains great company culture, combined with a team full of employees who love what they do makes it incredibly appealing to the best new talent. This breeds have high-performing teams who put in a lot of effort, build strong relationships, and ultimately impact bottom line.
As we have uncovered employee engagement isn’t just an HR trend, it’s a key part of running a great business, and, when people are engaged in the workplace, it works in everyone’s favor.
Download our Manager's Guide to Using Feedback to Engage Your Team to continue to develop and increase employee engagement.