In the current economic climate, those who wish to sustain a competitive advantage and weather the bear market storm will be those who can draw upon the support, commitment and drive of their workforce – a workforce that must surely be engaged before success can be achieved.
At HDA we believe that releasing the power of your people will be a key business focus of the coming year; a focus which, if undertaken wholeheartedly, will provide lasting results to organizational performance and the bottom line – both directly and indirectly. With this in mind HDA has written a short article outlining the key business benefits of developing an engaged workforce.
Employees have considerable influence on the attitudes and behaviours of customers - therefore the positive effects of engaging your workforce will expand into your client-base (Northwestern University).
The premise is simple engaged employees equals committed employees (Towers Perrin, Mulcrum, Hewitt) and committed employees tend to perform 20% better and are 87% less likely to leave the organisation (The Corporate Leadership Council).
An organisation with an engaged workforce generally becomes more cohesive and this in turn enhances recruitment and retention; and lowers rates of absenteeism (Mulcrum).
Share prices of organisations with highly engaged employees rose by an average of 16% compared to the industry average of 6% (Sirota Consulting)
73% of organisations who have implemented programmes to enhance employee engagement levels have seen an increase in operating profit (Welbourne, 2007)
To read the article in full please click here - http://www.hda.co.uk/corporate/hda-overview/hda-articles.asp