Facts & Benefits:With the current economic crisis there is more pressure then ever for companies to "do more with less". Investing in programs that drive employee engagement is vital during these uncertain economic times, particularly programs that focus on the core contributors-the large middle group of employees that represent approximately 60% of the typical company's workforce. There are striking differences between high-engagement and low-engagement employees. The highly engaged are 79% more likely to be top performers, 72% of them exceed performance expectations and they miss 20% fewer days of work. They identify more closely with the company, it's products and it's services and are, therefore, harder to lure away. In the typical company engagement starts high and declines with tenure. "Using Continuous Engagement to Drive Business Results" Watson Wyatt Towers Perrin found that high engagement firms experience an earnings per share (EPS) growth rate of 28% compared with an 11.2% decline for low engagement firms. Towers Perrin A Manpower survey of call centre customers and employees revealed that centers with high employee satisfaction also have high customer satisfaction, whereas centers with low employee satisfaction have low customer satisfaction. Manpower Molson Coors saved more than $1.7 million in one year- citing one example where the average cost of a "safety incident" for an engaged employee was $63, compared with an average of $392 for a disengaged employee. Society for Human Resource Management Our research shows for example that enthusiastic workers often increase the quality of work by huge percentages-up to 75% reduction in defect rates. Using overall satisfaction as our measure we divide the companies into high morale (75% favourable) Moderate morale (between 74 and 60 % favourable) and low morale (less than 60% favourable). The stock market performance in 2002 of each company was determined and the average performance for the three morale categories was calculated. Since the different industries perform differently on the stock market over the course of a year, and the companies in our morale categories differed considerably by industry, it was necessary to compare the performance of each of our companies with the performance over the year of it's own industry. The table below shows the average changes in the stock market price of the companies in each morale category, the average changes in the industries of those companies and the difference between the two. Average Stock Market Performance
"The Enthusiastic Employee" David Sirota, Louis Mischkind, Michael Meltzer Contact us today to find out more. |
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