What is the key to better business results?
Today’s business environment is tough and filled with competition.
However, some known companies record mind-boggling revenues year in year out.
These companies are consistent in their revenue growth, employee turnover, and profit margins.
You might wonder how they are able to maintain the statistics even as the business environment becomes trickier by the day?
We are talking about organizations such as Facebook, Google, and Apple.
These are the companies making the enormous amounts of revenues in the tech industry.
So, do they have better products and services or bigger advertising budgets?
Yes, maybe they might have quality products/services, huge advertising budgets, and exceptional employees.
However, the process of finding and hiring the ideal job candidates is often overlooked, and that’s where the money is.
Why is employee engagement so important?
It’s a no-brainer that happy, engaged employees:
- Work better,
- Engage with your clients better
- Are innovative,
- Share ideas,
- Own their projects.
However, according to a 2016 Gallup report:
- Only 32% of employees in the USA were engaged.
- The increase in employee engagement between 2012 and 2016 was only 3%.
It has also been estimated that US companies lose at least $500 billion a year from disengaged employees.
4 main benefits of engaged employees
Here are the 4 main benefits of engaged employees:
Benefit #1: Higher productivity
Engaged employees have a sense of entitlement, therefore, work harder and smarter to achieve the company’s goals.
Furthermore, if employees feel they are respected in the workplace, they try to show a sense of responsibility and work hard to give the respect back resulting in better quality products and services.
Gallup reports that engaged employees work better and are more productive.
Their productivity goes up by 17% as compared to disengaged employees.
Being a business owner, 17% more productivity means better services/products for your company and happy customers. Well, happy customers equal everything else.
Benefit #2: Better profit margins
Happy employees work hard to ensure that the company’s goals are met.
One of the major company goals is to offer quality products and customer satisfaction.
There is no doubt that employees who feel respected and appreciated at the workplace will put in extra time and effort on projects.
In this regard, you will be looking at better productivity which means better quality products for your clients and a happy client base.
A happy client base means a lot to a business. Happy clients are likely to come back and offer you more business as well refer you to their friends.
If the cycle continues, you naturally make lots of profits from having your employees engaged.
Benefit #3: Less time theft
When employees are engaged, they feel a sense of responsibility and ownership.
In this regard, they work hard towards achieving the company’s goals as if they owned the business.
Engaged employees try to be on time always because they value their job and want the company to succeed.
On the other hand, disengaged employees don’t care about the company’s goals.
Instead, they just show up because they need the check at the end of the month.
In this regard, they don’t do any quality work and sometimes miss to show up in the office.
Beware: Even if you’re using an automated time management system, absenteeism can still be a problem if employees are not engaged.
Gallup reports that employee engagement reduces up to 41% of absenteeism in the US alone.
Benefit #4: Loyal workforce
There is no uncertainty that any business owner requires a loyal workforce.
Employees who are loyal to your business work extra hard to ensure the business is flourishing.
Thus, reducing turnover rates and retaining your employees in the workplace is crucial to every company's success.
Furthermore, they become brand ambassadors for free.
In this regard, you get to enjoy free publicity meaning more business for you which translates to more significant profits in the end.
Employee engagement: Take home message
In the end, we can say that employees are your most significant assets and the driving force behind your company.
In this regard, you can never ignore them because they have a direct impact on the company’s well-being and revenue.
If you want to achieve better business results, you need to recruit the right people for your company.
And don't forget to nurture and engage your talent to stop them from leaving!
Now go on, try and engage your employees today for better business results!
Want to learn more about employee engagement?
Our friends over at GroSum have put together a Comprehensive Guide on Employee Engagement.
Check it out! It's jam-packed with great, data-backed tips and tricks for keeping your employees engaged.
About the author
Fredrick Cameron is the writer of this article. He is a regular contributor at many sites and mainly focuses on business-related topics. He also writes for a site Index Time Clock offering time clock systems to manage employee time efficiently.