Companies spend a lot of money to find out just how engaged their employees are, and they’re right to do so: turnover costs organizations thousands and thousands of dollars. In fact, if an employee makes a salary of $40,000 a year, it can cost $30,000 in recruiting and training fees to replace him.
Not so good for the bottom line.
According to McKinsey, an organization that conducts employee engagement surveys on behalf of companies looking to stay in touch with their team members, there’s a difference between a satisfied employee and one that’s engaged. And you want the engaged type of employees.
A satisfied employee just “does his thing” at the office. He’s happy with his current situation, doesn’t go out of his way to get involved or help others but turns in his work on time and done right. That doesn’t sound like such a bad deal, right?
An engaged employee, on the other hand, takes steps to understand his role within the company and how he affects the bottom line and how his work fits into the scheme of things. He goes out of his way to help others, he’s an ambassador for the company and its brand, and he may even look for additional work, take on additional projects, or identify and capitalize on opportunities to improve company performance.
Companies usually have a mixture of satisfied employees and engaged employees, but it’s those engaged employees that really drive the organization forward. So, logically, companies want to understand just what their “mix” of employees is, and work on improving the company’s relationship with those team members so that engagement (and quality of work) increase. How does a company like McKinsey help them to do that?
McKinsey weighs employees’ responses against engagement “drivers.” They ask questions specific to areas their research tells them impacts engagement. These areas include things like your relationship with your coworkers, work-life balance, and even compensation and benefits. After asking the organization’s employees to agree or disagree with a variety of statements, they’re able to determine their levels of engagement.
Companies that find their number of engaged employees is a little disappointing might think they need to spruce up their office a bit, but that’s not always the case. Moving in a ping pong table or buying the team lunch may be a great gesture of goodwill, but sometimes better communication and an enhanced rewards and recognition program may more efficiently address the situation. Engagement survey results are usually prescriptive, and companies are often willing to share the tips and tricks that worked best for them.
I’m using McKinsey as an example, but there are plenty of companies out there that run engagement surveys and offer similar results. In the event your company is small or doesn’t want to make a huge investment, survey apps like SurveyMonkey offer suggestions and tips on creating your own engagement survey. There’s no need to guess if your employees are engaged or just satisfied…ask them! It can be the start of a more productive environment!
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