Have you ever been on a sinking ship? You may be on one right now without realizing it: your business. Although it may look stable on the outside, your business could be severely damaged on the inside due to disengaged staff members.
Remember the Titanic? The ship struck an iceberg and had only hours to live, but on the outside you couldn't see the damage. It was only under the water's surface, deep in the heart of the ship, where the problem could be seen.
It's the same with your company: just because everyone shows up for work and looks happy on the surface doesn't mean your company has the structure to survive.
The following video, "Employee Engagement - Who's Sinking Your Boat?," reveals how low employee engagement may cause your business to drown.
Investing in employee engagement is your life preserver
All is not lost, though. Here are seven takeaways I picked up from the video that summarize why you need to improve your employee engagement levels right now.
1. Satisfied employees are there to get. Engaged employees are there to give. The goal should be "mutual commitment" between the boss and the staff.
2. Highly engaged employees are 480% more committed to helping their company succeed, 250% more likely to recommend improvements, and 370% more likely to recommend their company as an employer. (These numbers may look ridiculous, but they are not typos.)
3. Employees with lower engagement are four times more likely to leave their jobs than those who are highly engaged. And you probably already know that it costs much more to hire a new employee than it is to retain one.
4. Active disengagement costs the U.S. $450 billion annually.
5. Seven out of ten employees are disengaged or actively disengaged. I loved this analogy from the video: imagine you're on a crew team (rowing) where 3 people are working really hard, 5 people are just looking at the scenery, and 2 people are actually trying to sink the boat. What a nightmare! Basically 70% of employees are either disengaged or actively disengaged.
6. 87% of corporate executives recognize that disengaged employees are among the biggest threats to their businesses. If you can identify the threat, you're that much closer to finding a solution.
7. Engaged employers who focus on purpose and values are six times more successful at outperforming the competition. Help employees figure out why they do what they do, not just how to get the job done.
Unfortunately, there was no way to repair the damage done to the Titanic, but low employee engagement is a totally fixable problem. Your company doesn't have to drown. Hopefully these seven insights will help you work smarter, not harder, for the good of your staff and your company as a whole.