Research from the Hay Group shows that 71% of the workforce is either “not engaged” or “actively disengaged” from their work. When asked, these employees mention money as a root cause as #9 on the list behind things like; Recognition, Flexibility, Training, More Challenging Work … and so on.
So, what do leaders do about this?
Managers give annual appraisals, a little money, list out their weaknesses, and ask them to improve. They make a few promises that are seldom kept, and then complain to other managers that they have the least motivated group of employees that they’ve ever seen.
The stats are astounding! Engaged employees mean higher satisfaction, which leads to higher customer satisfaction. There is tons of research available that shows dissatisfied employees directly influence the buying decisions of YOUR customers. We know that it costs 6 to 7x’s more to find new customers than retain old ones. We know that a 2% increase in customer retention is equal to a 10% cost cutting measure. We know that a satisfied employee will lead to a satisfied customer and that leads to repeat business.
So, what are YOU going to do about it?
There are proven methods of getting your employees engaged. You can do this yourself, or use a company like mine to provide seminars, workshops and guidance. How much have you budgeted for employee retention, satisfaction, growth, and training? If an engaged employee has a productivity value of $238,000 per year, vs a disengaged employee at $166,000 per year, it might be worth the investment!
Give us a call at Pinnacle Sales, and we can develop an employee engagement system customized for you, your team, and your industry.