These days, employees have numerous issues competing for their attention. From busy family lives to longer commutes to constant connectivity in a mobile world, your business may be struggling to keep employees tuned in and engaged.
However, with the average worker remaining at his or her job for only 4.4 years, employee engagement is more important than ever for retaining the talent you need to compete. The following numbers might surprise you, as they reveal just how essential engagement is to your company’s bottom line:
1. Employees who are highly engaged are 38% more likely to have above-average productivity at work. (Source: Workplace Research Foundation)
We don’t know a single manager who doesn’t want his or her team to have average – or below-average – productivity! Think about how much more you could accomplish if all of your employees were over one-third more engaged.
2. Increasing employee engagement investments by just 10% can increase profits by $2,400 per employee, per year. (Source: Workplace Research Foundation)
In other words, those little steps companies take to improve employee engagement pay off, big time. So, how much is enough? According to Bersin and Associates, companies currently spend $720 million on employee engagement in the US each year. However, Bersin predicts this amount will increase sharply to about $1.5 billion as businesses see the ROI of investing in their people.
3. It seems that companies have a long way to go to meet Bersin’s prediction. Employees themselves reveal that 83% of their organizations don’t feel they have a compelling employment brand. (Source: Huffington Post)
Building your brand involves making personal connections to get workers excited about what your company does each day. Inviter is the perfect platform for creating business greeting cards and video newsletters that create the kind of community your employees crave.
So, what else are companies that are doing it right actually doing?
4. Some companies foster engaged brand ambassadors in their workplace; these savvy businesses report an average of 2.69 sick days are taken annually per employee, compared to companies with little-to-no engagement efforts, who report an average of 6.19 sick days. (According to Workplace Research Foundation)
Those sick days add up, but they aren’t as detrimental as high turnover rates. Keeping your employees engaged can be as simple as letting them know they are appreciated and that they are doing their jobs effectively.
5. In fact, companies that implement regular employee feedback have turnover rates that are 14.9% lower than for employees who receive no feedback. (According to Gallup)
Feedback as a concept is simple, but how can you make it more meaningful? Instead of the same old performance review sheet, why not reach out to employees with a video message to let them know exactly how they’re doing? Inviter makes video email easy by allowing you to create an engaging video and to send it now or later.
Take a free test drive of our platform to see how Inviter can help improve your company’s own employee engagement statistics. Start your free trial now.