Is there anything more important to your company’s success than engaged employees? Dale Carnegie Trainers don’t believe so. A committed and enthusiastic team has no limits on its potential for success, but trying to rally a group of unengaged employees all but ensures failure. Whereas investments in things like a new building or updated computer systems can produce short term gains, putting time and money into employee engagement will give your company a boost over the long haul. Here’s why:
High Cost of Employee Turnover
69% of disengaged employees said they’d hand in their resignation to their current company if another organization offered them just 5 percent more money, according to a Dale Carnegie Training survey of 1500 employees nationwide. Engaged employees? It would take a 20 percent raise to get them to hang their hat elsewhere. The Institute for Research on Labor and Employment says it take 150 percent of a person’s salary to replace him or her; engagement is a clear-cut money-saver for any company.
Turnover Has Non-Measurable Costs
The cost of employee turnover is not simply a nominal price to pay. Turnover is stressful for bosses and human resource managers, but most especially for co-workers who have to pick up the slack left in the ex-employee’s wake. In addition, new hires may make mistakes when they’re learning the ins and outs of the position. And employees who defect could tarnish your brand if they leave on bad terms.
Disengaged Employees Can Be Dangerous
According to a recent Dale Carnegie Training white paper, employees who are disengaged don’t just cost your company money over time. They can actually be dangerous to those around them due to workplace accidents. Also, chronic absenteeism due to unengagement can put a serious strain on co-workers who do show up regularly to work. Eventually, these employees may start to suffer from unengagement as well.
Engaged Employees are Better Employees
Satisfied, committed and engaged employees are the only employees worth having. They will not only go the extra mile for you, but they’ll go above and beyond for customers, their co-workers and your organization.