The year is half over, summer months are finally upon us, and family schedules fill up. We have many distractions that keep us from being completely committed to our work. Employee burnout and lack of motivation is common during this time of year.
The cost of this low employee engagement is enormous. A Gallup poll estimates the productivity cost per year is between 450 and 500 billion in the US alone. Forbes estimates that disengaged employees cost a business 34% of their salary per year. If an employee makes $70,000 per year, the cost of a disengaged employee is 23,800. Does your business have room to lose that kind of money?
So how can you increase productivity and avoid this cost in your business? Here are a few basic strategies:
- Establish and reinforce a system of accountability. When leadership engages with employees to establish performance goals, there is an increased commitment,
- Engage employees in the decision making process. Increased responsibility and participation will elevate the investment in the projects.
- Ask for feedback. A transparent communication atmosphere will enable your employees to have more agency in their work. This communication loop will increase productivity and employee satisfaction
Employee engagement is an investment, but the increase in productivity will translate into increased profit. Employees will also be more engaged with your core values and brand.
Let’s talk about we can create a custom employee engagement plan in your business.