According to findings discussed in Harvard Business Review, highly engaged companies are twice as successful as those with lower levels of engagement. A deeper comparison of company cultures highlights improved attendance, increased loyalty, and superior work quality among highly engaged employees. Here are some other ways an engaged workforce can boost your company's success:
1) Your employees are more apt to feel a sense of purpose
Perhaps the greatest benefit of an engaged workforce is the sense of purpose employees feel when they are performing their jobs. Employees enjoy a greater sense of fulfillment when they have a sense of purpose and know that their efforts make a difference each day. Some of the positive effects of a sense of purpose include the following:
- Increased motivation
- Improved ability to overcome obstacles
- Enhanced connections with people in different cultures
- A tendency to view employment as more than a job
2) Job satisfaction will begin to rise
Job satisfaction and job performance both tend to rise in tandem with employee engagement. Companies that focus on boosting engagement are often rewarded with impressive job satisfaction levels, which can ultimately help you hang on to your five-star employees.
3) You will likely see an uptick in employee referrals
When your employees feel valued and happy at work, they are more likely to refer their friends and family to your organization. And employee referrals are an ideal source of hire for your business. In addition to having a shorter, less costly recruiting process, employee referrals typically have a longer average tenure with companies, making them a bargain from a hiring standpoint.
4) You will attract top talent
In addition to an increase in the quantity of job applicants, you are likely to receive more applications from highly qualified job candidates. And the difference between an average employee and a great employee cannot be overstated.
What can happen if your employees are not engaged?
The shortcomings of a disengaged workforce are just as pronounced as the benefits of highly engaged employees. For starters, your employee retention rate can suffer when your workforce is not engaged. Workers are less likely to feel valued by your company and begin to long for an employer who will help them realize their sense of purpose. Top performers, in particular, begin to search for a more fulfilling work environment where they receive recognition for a job well done.
In addition to higher turnover, your company may face a variety of other unpleasant consequences. The Society for Human Resource Management (SHRM) outlines some other pitfalls of a disengaged workforce:
- Higher rates of absenteeism
- Employees become self-centered
- Negative attitudes among employees
- A focus on monetary worth instead of learning
- Optimism is replaced by pessimism
Fortunately, you can avoid these pitfalls by resolving to establish a culture of engagement within your organization. Even if you are starting from scratch, you can transform your organization by making employee engagement a top priority and developing a strategic plan to keep your workforce motivated and involved.
By maintaining a strong focus on employee engagement, you will set the stage for improved job satisfaction, lower turnover, and an increase in applications from the most talented job candidates. Most importantly, you will help your organization develop a reputation for being a highly desirable place to work.