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READ MORE ABOUT EMPLOYEE AND ORGANIZATIONAL ENGAGEMENT, LEADERSHIP, AND LEARNING DEVELOPMENT!

The ROI of an Employee Engagement Program

An engagement program can have significant ROI for your organization both in a financial and productivity sense.

According to Workplace Research Foundation, “Engaged Employees leads to higher service, quality, and productivity, which leads to higher customer loyalty, which leads to increased sales (repeat business and referrals), which leads to higher levels of profit, which leads to higher shareholder returns (i.e. stock price).”

Additionally, they report that, companies with engaged employees have an average of 2.69 sick days taken annually, compared to companies with weak engagement efforts, reporting an average of 6.19 sick days (Workplace Research Foundation).

Here are some other awesome benefits you will achieve from a well-designed employee engagement program:

Build an emotional connection with your employees

When you invest in your employee’s engagement, it helps show them you care about them beyond just the job they do.  It shows that you care about their overall happiness and well-being and that you want to recognize and reward them for their efforts.

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Increase engagement levels

When you recognize and reward your employees for a job well done and further provide them learning and development opportunities, they will be engaged, motivated and energized to give you their best effort and loyalty.  A disengaged employee costs an organization approximately $3,400 for every $10,000 in annual salary. Disengaged employees cost the American economy up to $350 billion per year due to lost productivity (McLean & Company).

Attract and retain the best employees and loyal customers for your business

When your employees are engaged, they will talk positively about your organization and want to refer and recommend others to join your organization (both as customers and/or employees).  Plus, when they are recognized and rewarded on a daily basis, and given growth and learning opportunities you are more likely to retain top talent who feel valued and connected to your organization. Globally, engaged companies grow profits as much as 3 times faster than their competitors and highly engaged employees are 87% less likely to leave the organization (Corporate Leadership Council). Additionally, engaged employees translates to better customer service and customer loyalty, which companies depend on to make payroll.  The most-engaged workplaces experienced 2x higher customer loyalty, 2x higher productivity and 2x lower turnover (Jonathan Pont).

Provide skills that make your team more valuable

When you invest in your talent with an engagement program that integrates learning and development, you will provide them with a whole new set of skills and competencies that they can seamlessly add to their toolbox, making them more valuable to serve both your internal and external customers.

Help your organization improve its bottom line

When all of the above elements are in play, your team will have better communication, will be more productive and will have better internal and external service. This all translates to more efficient sales and service, and increases your bottom line. Companies with low engagement scores earn an operating income 32.7 percent lower than companies with more engaged employees. Similarly, companies with a highly engage workforce experience a 19.2 percent growth in operating income over a 12-month period (MacLeod & Clarke)

These are just a few of the benefits you can achieve with a well-designed employee engagement program that focuses on engaging your talent every day.  When you create a culture of engagement in your organization and recognize your talent at every touchpoint, they will provide you with their energy and loyalty, which translates into significant ROI for your organization!  

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Jennifer Budinsky is the Director, Marketing Communications for Global Engagement Solutions whose mission is to help companies create engaging employee and customer experiences. Prior to joining GES Jennifer was the Communications and Marketing Manager at Green Living Enterprises, Canada’s leading cause marketing and event agency focused on social and environmental program development. She has a Master of Arts in Communication and Social Justice, and Bachelor of Arts Honours in Communication, Media and Film from the University of Windsor. She resides in Toronto, Ontario and spends her free time working as an actress on various television and film projects there. Jennifer is an ambassador for encouraging people to create exceptional experiences in every aspect of their lives, from work to home to play!