Companies who rank in the top percentages when it comes to employee engagement perform better. When you look at the research, they don’t just perform a little bit better. The difference is significant.
3 x faster profit growth than competitors (Lupfer)
57% better total shareholder return (Aon Hewitt)
2 x increase in customer satisfaction (Kruse)
41% increase in quality from bottom to top quartile companies (Gallup)
18% increase in productivity (InSync)
75% reduction in turnover (Globoforce)
Why are successful companies so engaging?
Or should that be why are engaging companies so successful?
Companies with high levels of employee engagement typically have a number of similar attributes, and one of them is a company-wide culture of recognition. Successful companies focus their employees around common goals or values, rewarding and recognising them for behaviours that are consistent with these goals. It is this recognition that increases employee performance and in turn, contributes to the company’s success.
Why? Employees who are recognised and valued for their contribution will do much more than just turn up for a weekly pay cheque. They will go the extra mile to keep a customer happy, deliver more, help each other out, be more energised and positive. They will give more back, engaging with their team and the company goals.
But it is not just a matter of outlining your company values and telling everyone to live by them. In order to drive behaviour, you need a well-designed reward and recognition program, based around your socially-smart, tech-connected employees that is grounded in science, not guesswork.