What are you planning to focus on in 2017? You probably identified many challenges in 2016: improve sales, increase customer satisfaction and loyalty, increase profitability, increase productivity, reduce employee turnover, and much, much more. It can be overwhelming! You must prioritize; but how?
Regardless of 2017 trends or what happened in 2016, focusing on employees is always the first place to start. No matter what improvement you want, if your employees aren’t buying in and contributing, you might not be able to reach your goals.
Consider these statistics:
- In a leading department store chain, customers scored higher in customer satisfaction when they were served in departments staffed with employees who had high levels of employee engagement.
- A Fortune 100 manufacturing company reduced quality errors from 5,658 parts per million to 52 parts per million.
- A Fortune 100 manufacturing company reduced turnover from 14.5% to 4.1%, while absenteeism dropped from 8% to 4.8%.
- In companies where 60 to 70 percent of employees were engaged, average total shareholder’s return (TSR) stood at 24.2 percent; in companies with only 49 to 60 percent of their employees engaged, TSR fell to 9.1 percent; companies with engagement below 25 percent suffered negative TSR.
- Study of 89 companies compared top quartile and bottom quartile engagement scores and found that those in the top quartile had 2.6 times higher earnings per share (EPS) than that of the below-average scores.
- A study of 64 organizations revealed that organizations with highly engaged employees achieve twice the annual net income of organizations whose employees lag on engagement.
- (For more interesting Employee Engagement, check out an earlier Infosurv Insider blog: Statistics Show Employee Engagement Drives Business Results
No matter what bottom-line metric you want to improve, it all starts with employee engagement. So, for 2017 improvement, look at your Employee Engagement levels. Are they increasing? That’s good, if the rate is fast enough to achieve your goals. But if they are stagnant or declining, that’s where you start. Dig into that data to see what can make a difference for employees in 2017. (And don’t be afraid – the answer typically isn’t always more pay and better benefits!)
If you haven’t been measuring Employee Engagement, now is the time to start to make sure you reach – and exceed – your 2017 goals. And the even better news is that more engaged employees will pay dividends far into the future with longevity, increased productivity, and referring similarly high-performing employees to your firm.
It’s clear – make 2017 the Year of the Employee!
Let’s talk about YOUR Employee Engagement program and how we can improve it! 888-262-3186