We understand that the key to a company’s success relies on the performance of the people within it. We also know that a disengaged and unmotivated workforce is detrimental to business growth.
We are aware that as the world’s workforce is becoming more and more disengaged and attrition rates are reaching epic proportions. This is causing companies major headaches.
But did you know how bad things are actually getting?
According to a recent Gallop Poll 24% of the world’s workforce are actively disengaged (they have totally checked out and are looking at moving on), and 63% are not engaged. This leaves us with only 13% of the world’s workforce engaged in their jobs. This is the percentage of employees who are emotionally invested in and focused on creating value for their organizations. Frightening.
Actively disengaged employees therefore outnumber engaged employees by 2-to-1. Leaders often say that their organization’s greatest asset is its people — but in reality, this is only true when those employees are fully engaged in their jobs.
What we do know however, is that when engagement and happiness levels increase, productivity will also increase by as much as 31% and stress levels reduce by 23%.** More productivity, less sick leave, better teamwork. Think about the loss of productivity throughout the world, due to a lack of employee engagement……it’s astounding!
Why is it that so many people have checked out of their jobs? And why is it that so many companies are losing so much human potential?
Lesson to be learned
It is important for employers to know that to reduce attrition rates, an increase in engagement levels is crucial. Traditional forms of motivation such as pay rises and the constant monitoring of performance no longer suffice as key motivating factors. It is now time to recognize soft skills as critical to a company’s success. The research proves that tapping into the psychology of employees is no longer ‘psycho babble’ but a critical component of exemplary leadership and company success.
Next week: Millennials, Leadership and Engagement- A Generational Shift.
** Shaun Achor- Good Think Project