Main Reasons Why You Should Invest in Employee Engagement
Main Reasons Why You Should Invest in Employee Engagement
Employee engagement. That’s a term you hear often in professional settings. But what does it really mean and how does it factor in the success of your business? Well, staff engagement, for the most part, refers to the creation of conditions conducive to all employees making them more committed to the organization. Staff unsatisfied with their working conditions often tend to lack the drive to meet their targets. According to researchers, employee satisfaction is vital for workplace productivity. Personnel who don’t care about their work will detract from the rest of the team. That’s why the needs of employees exist in the fringes of organizations.Most employers don’t invest in keeping their workers engaged and the consequences are evident in the performance of their business. They are yet to realize the intangible connection between worker wellness and their financial bottom line. If you’re an employer wondering why there’s so much fuss over investing in employees, here are the main reasons why you should invest in their engagement. Satisfied Employees are Less Likely to QuitYou probably know the pain of losing a member of your organization. The gap they leave behind must be filled. If you don’t, you can bet some of your business processes will fail. But getting someone to fill in the position is easier said than done. The worker who left probably had tons of experience meaning you’ll have to train a new recruit to perform at the same level. That involves a considerable amount of investment, fiscal and time wise. Recruiterbox did research on the cost of acquiring a new staff member and concluded that in service-related industries, employers had to fork over more than $1,000 every time they hire. They came up with the figure after analyzing the costs involved in the job advertisement, recruiter’s salary, travel expense, and sign-on bonuses. You’d expect this to be the case in other industries as well. Imagine a situation where a couple of your workers feel dissatisfied at the workplace and leave. To fill the gap, you’ll have to fork over about $$2,000 to sign new replacements. If employee satisfaction continues to be a problem, then, you’ll be spending a tidy sum every year hiring new talent. All that fiscal investment adds up over time, and before you know it, your business is spiraling towards bankruptcy. You can avoid recruitment costs by ensuring all your staff are not only satisfied, but they feel that the organization values them enough to invest in them. Just think about it. When are you more likely to show commitment? In a place where you feel like a valued team member or in a setting where you feel unappreciated and neglected? The answer is obvious.
Employees meeting on a deck outside at the Mogollon Rim Ranger District Work Day 2017; image by AZ COF, via Flickr, public domain, no changes.
About Melissa Cartew
Melissa Cartew is a human resource consultant. She helps companies retain talent in their ranks and acquire new talent. While she’s not working, Cartew indulges in long walks and delicious cups of coffee.