Successful businesses understand the importance of fostering an environment where employees feel engaged and invested in the company. Using a broad lens, engaged employees provide a higher level of customer service, they contribute more to the corporate environment and are generally more productive. There’s one other detail here that we just can’t overlook – engaged employees are more likely to remain loyal, and as a result, increase your employee retention rates.
It’s critically important that we begin to really look at the connection between engaged team members and retention rates. An unfortunate majority of employees in the United States don’t feel engaged in their places of work. This could be a major factor in why retention rates are so low across many industries. Why is employee engagement so important for retention? Let’s take a closer look.
At the end of the day, your employees are there to either make a living or gain the experience they need to land in a more lucrative position somewhere down the road. So, money is a primary motivating factor, but it isn’t everything. Workers are more likely to remain loyal to employers they enjoy and feel engaged with, even if it means bringing home slightly less bacon at the end of the week, rather than risk a move to an unfamiliar company.
For many of us, work is where we spend 8-10 hours a day, five days a week. This represents a significant portion of our lives spent at work, making our experience there an important factor in our overall happiness and quality of life. Why would someone be willing to spend so much of their time and energy at a place of employment where they feel undervalued or not free to engage, especially when other options are available. Workers appreciate how a positive, engaging work environment enhances their life overall.
Top businesses already know that engaged employees are happy employees that want to remain with the company. This saves the business a tremendous amount of resources that would otherwise be devoted to hiring, training, and sometimes lengthy onboarding processes. They know it’s worth the investment to keep employees engaged, and word gets around fast. When word gets out that the company down the road is providing a better work experience, the temptation to jump ship is strong.
At Coraggio Group, we know that every business has the potential for excellence. When you have a team of employees that feel engaged, interactive and like they’re a true part of your business, it increases retention rates – which makes your business more successful on every level. We’re here and ready to talk to you about which employee engagement strategies will work for your business.
Contact us to learn how we can help you develop an employee engagement strategy for success.
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