The Impact of Employee Engagement on Your Organisation

The phrase ’employee engagement’ has created quite the buzz in recent times. In fact, according to Google trends, the worldwide search popularity of the term has more than doubled over the last decade.

Studies suggest that employee engagement is becoming one of the most important indicators in measuring work satisfaction. And one of the primary reasons is that employees are now looking for more than just a 9-to-5 job. They want to be motivated, appreciated, and enthusiastic about the organisation they work for. Correspondingly, a report published by Harvard Business Review stated that 71% of managers believe that employee engagement is one of the most critical factors in the overall success of the company.

However, despite knowing this, most of the workforce is still disengaged at work. But does it really matter? What is the tangible impact of employee engagement? Let’s dive deeper…

What is employee engagement?

Undoubtedly, employee engagement is a hot topic in the business world. But what does it really mean? According to the online encyclopedia Wikipedia, an engaged employee is “one who is fully absorbed by and enthusiastic about their work and so takes positive action to further the organisation’s reputation and interests.” Today, employee engagement has also become synonymous with phrases like employee experience and employee satisfaction that refers to an employee’s journey with an organisation.

The impact of employee engagement

Retention

Simply put, engaged employees are less likely to leave their job. Employees with no attachment to their work will more likely leave to pursue a career that offers a higher remuneration, extra employee-centric benefits, or flexible work conditions. And there’s research to back this up. According to a study, 81% of employees would consider leaving their jobs if they got an attractive offer, even if they weren’t looking to switch companies at the moment.

And in today’s modern business world, with companies mushrooming like never before, retaining skilled employees is easier said than done. This makes it all the more important to engage your workforce.

By implementing the right employee engagement strategies, you are not only attracting quality talent for your company, but you’re also able to retain your existing employees better. This, in turn, reduces turnover and eliminates hiring costs (roughly 4200€ every time an employee walks out the door).

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