Have you made changes to your benefits package, your promotion process? Did you have layoffs this year? You may have adversely affected those remaining employees in the form of their engagement levels. Wikipedia defines employee engagement as “an employee’s involvement with, commitment to, and satisfaction with work.” Business Week writes, according to a survey by Watson Wyatt, benefits consultant, employee engagement has dropped by 25% this year, mostly due to people who were fortunate enough to keep their jobs being left with a bad taste in their mouth regarding their “company’s layoffs, bonus and benefits cuts, and a halt in promotions” (read full article here).
Employee engagement is a huge piece of creating and providing a successful work environment and product/service to customers. Studies show that “an engaged workforce has a 44% lower turnover, generates 33% higher profits, operates at 50% higher productivity, enjoys a 50% safer environment and scores 56% higher in customer loyalty” (Source: Gallup Poll, 2006).
What has your company done to help combat these negative feelings? Are you seeing the benefits from these efforts? We’d like to know the upside and the downside of changes different companies have made during this past year.