Congratulations! You have just received the results of your company’s annual Employee Satisfaction Survey. You now have measurements of the five key elements of Employee Engagement and a vast array of data on everything from perceptions of company leadership to ratings of various company benefits. You now know that 67% of your employees are satisfied overall. But what does that mean? Is it good or bad? You can look at results from past years and determine whether the trend is moving in the right direction. But even that isn’t enough to know whether your score is something to celebrate – or to be worried about.
All companies have to make strategic decisions about the role and value of employee engagement levels in keeping the business successful and growing. At a minimum, you need to understand your levels of employee engagement, whether it is improving or declining, and what to do about it. But to really make the data actionable in your organization, you need to benchmark yourself against other companies of similar size or in your industry.
Infosurv Research Employee Engagement Benchmarks
To help our clients make better use of their employee engagement scores, Infosurv Research conducted an employee engagement benchmarking survey. Using several nationally representative panels, we completed over 2,500 online surveys with people who were employed full-time in firms with more than 20 employees. We focused on several target industries: Banking and Finance, Healthcare, Hospitality, Information Technology, Manufacturing, Retail and Transportation and Logistics.* The sample is also represented by firms across the U.S. and of a range of sizes.
Now let’s look at your results for two of the Employee Engagement elements, and see what more we can learn.
First, starting with overall employee satisfaction, the Infosurv Research Benchmark survey found that 71% of employees are satisfied. So, it looks like your score of 67%, indicates that there is still room for some improvement.
How does your 67% break down compared to the benchmarks? You have 20% who say they are very satisfied versus 47% who say they are somewhat satisfied. Looking at the benchmarks of 31% very satisfied and 40% somewhat satisfied, you might want to dig a little deeper into the data to determine why your employees are less intensively satisfied than the benchmark. Are there any areas where the somewhat satisfied employees are significantly less satisfied than your very satisfied employees? What can you do about it?
Another question you asked on your Employee Engagement Survey was whether your employees would recommend to a friend that they work for your company. Turns out most of your employees, 80%, would recommend employment with you to a friend.
Good for you! The benchmark data show that only 65% of employees would recommend that their friends seek employment at their companies. You can look at the data further to see what you’re doing well, because you certainly want to continue in those areas.
Of course you wouldn’t stop there, but would continue to look at all of the data collected to help you understand your company’s Employee Engagement levels.
Industry Specific Benchmarks
Now, you happen to be in the hospitality industry, so let’s see how you stack up to your industry peers on the same two elements of employee engagement.
In the hospitality industry as a whole, employee satisfaction levels are a bit lower than the general population of employees, with 66% of employees expressing satisfaction. So your score of 67% satisfied looks spot-on. By comparing the data on various elements between your company and the benchmarks for the hospitality industry, you will see where other hospitality companies may be earning higher ratings, and where you should apply resources to maintain your competitiveness.
However, in terms of recommending you to a friend for employment, 80% of your employees said they would recommend employment to a friend. The comparable number in the hospitality industry benchmark is 65%. So, there is nothing that should keep you awake at night here! You must be doing something right.
Of course, you can also look at the data to evaluate companies of similar size as well as companies located in your geographic area to get the full picture of what your Employee Engagement Survey Results are telling you.
More, better data
While these findings are interesting, they barely scratch the surface of what you can learn with the Infosurv Research Employee Engagement Benchmarks. The survey covers much more than these two questions, of course, with ratings on:
- Company leadership
- Work activities, quality and environment
- Company culture and communications
- Work relationships
- Opportunities for advancement
- Compensation and benefits
Employee Satisfaction data and the Infosurv Research Benchmarks can help you guide your leadership in determining how well your company is performing, and identify specific areas for redress and improvement. As the market for talent becomes increasingly competitive, understanding and building Employee Satisfaction is a critical tool for success.
For more information about benchmarking your Employee Satisfaction and Engagement Survey, call Infosurv Research today!
*In all of the industries noted, we have at least 300 completed surveys. We do have other industries represented, but with smaller numbers of completed surveys. To learn more about your industry, please contact your Infosurv Research account representative or call 888.262.3186 (404.745.9255 outside the U.S.) or email us at email@example.com.