Every time you meet someone, there are generally a few questions exchanged to break the ice. It’s only a matter of time before one of you asks: ‘what do you do?’.
How do you think your team would answer this question? After all, how they talk about what they do tells you a lot about how they feel.
According to Gallup, 87% of the worldwide workforce is disengaged, which means that even if you are extremely engaged, statistically, most of your employees are probably not. When you add the fact that at least 34% of employees are looking to change jobs within a year into the mix, this area is definitely a Could Do Better.
‘Employee engagement’ is one of those difficult to quantify things that’s easy to overlook, until it bites you in your profits. An engaged employee will be happy and enthusiastic about their work, be loyal to the workplace and their co-workers, find meaning and fulfilment in their job, and be aligned with the values of the company. Not only will they be less likely to leave, but will perform better at their job. True story.
As any HR manager will tell you, turnover in the workplace is a major cause for loss, with an estimate of £4bn a year going on recruitment and retraining costs in the UK. It costs anywhere between 33%-400% of an employee’s annual salary to replace them, so it always makes sense to put resources into supporting your existing employees to feel more engaged.
The good news is that about 75% of causes of employee turnover are preventable. A good place to start is sharing the love. 27% of UK employees are feeling undervalued or highly undervalued at work, so increasing your business’s level of employee engagement is a bit of a no-brainer if you want to keep your talent.
Introduce a wellbeing programme and you’ll see employee engagement start to rise. By taking care of your employees’ wellbeing - financially, mentally and physically – you are ensuring they not only perform better, but genuinely want to stay in their job.
Learn more about how yulife can provide a hassle free approach to employee wellbeing.