Wednesday October 21, 2015
Earlier this year, chancellor George Osborne, announced his plan to reverse the UK’s long-term productivity deficits. Among key areas of focus, the government is moving to develop a highly skilled workforce, introducing more apprenticeships and world-leading universities which will help fill the knowledge gap.
Yet all of this becomes meaningless without the linchpin of economic productivity – employee engagement. You can train the hell out of people but if they’re not engaged and motivated, it’s a wasted investment.
As such the argument for investing in employee engagement is clear. Done right, a raft of studies from firms such as Deloitte, demonstrate that employee engagement strategies bolster productivity, boost shareholder value, reduce labour turnover, enhance the customer experience and, vitally, directly connect to UK productivity.
Yet too many employers are failing to generate an engaged workforce, resulting in damaging consequences. As such, employee engagement experts Purple Cubed, have launched a ground-breaking campaign to address the challenge.
UK business fails to engage
Indications suggest most organisations aren’t getting it right when it comes to employee engagement, enablement and empowerment. According to research firm Gallup, 83% of employees globally say they are not engaged or actively disengaged at work. These actively disengaged employees report missing 7.2 days of work per year due to illness. Their poor motivation is cutting productivity by close to half and just a fifth (21%) of UK workers consider themselves to be ‘very effective’ in their current job role.
It appears that despite it not being too difficult, employee engagement has been consigned to the ‘too difficult box’ in many UK corporations. The result? A raft of disengaged employees sailing among their workforce, who are having a direct, detrimental and in some cases, deadly, sabotage-like effect on a business’s profitability.
By failing to take the time and effort to put in place a cohesive plan that delivers results, companies are allowing disengaged employees to erode their success, missing out clear tangible and bottom-line benefits. According to Inc, the organisations that fully understand employee engagement, which focus on it as a boardroom priority, experience:
• 22% higher profitability
• 21% higher productivity
• 10% higher customer engagement
• Up to 65% lower turnover
• 37% lower absenteeism
Time to change
To combat this growing epidemic of disengagement, Purple Cubed is setting out to discover how organisations view employee engagement in a bid to evolve this from a much-debated ideal, to a fundamental driver of business success and growth.
The study aims to prove that with the right, simple approach in combination with a sustained effort, engagement is easy to deliver and adds value to the bottom-line.
Contribute your opinion here, by completing a 10-minute survey before 11th December (or, better still, do it now!).
In return, you will receive a report in February 2016 outlining:
• What ‘employee engagement’ means to business leaders – the definitive definition
• Whether engagement is generating growth (or not) and why
• How employers get it right (and where they fail)
• What the bottom line benefits really are
• A clear and simple plan for your business to get engagement right
This article originally featured in Management Today, link to the full article is below