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The lack of employee engagement is a billion dollar problem

We are happy to recognize that today, March 5, is National Employee Appreciation Day.

We hope that you have been able to take action on some of the employee engagement ideas we have offered this past week.

Employee engagement impacts employee morale, productivity, innovation and problem solving and customer service. Any one of these can impact the business bottom line.

In fact, the lack of employee engagement is a billion dollar problem.

The Management Journal’s semi-annual Employee Engagement Index reports that 60% of employees are not engaged, and 15% are actively disengaged at work and only 25% are actively engaged.

The impact of employee engagement or rather disengagement is hitting businesses’ bottom line hard.

According to Canada Human Resources Centre, unhappy workers cost the North American business economy over $350 billion per year in lost productivity.

A study conducted by  Queen’s School of Business and Gallup, found that disengaged workers logged 37% higher absenteeism, 18% lower productivity, 5% lower profitability, 49% more accidents and 60% more errors and defects than engaged employees.

So how much is this disengagement costing you and your organization? According to Forbes, the costs of a disengaged employee is equivalent to 34% of their annual salary, or $3,400 for every $10,000 of income.

If we applied this to the average Canadian salary of $55,800 a year, the costs of a single disengaged employee to the business is going to be $18,972 annually.

While there is no quick fix, there are simple leadership practices that can produce immediate improvements in engagement.

We are offering a program that focuses on simple but powerful behaviours that will have maximum impact on your leaders’ ability to engage. For more information on our new Employee and Mobilize Engagement Program https://lnkd.in/gQdvVH4

In the meantime, take this free Employee Engagement Self-Assessment for Instant Insights:

Employee Engagement Self-Assessment
for Instant Insights



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    Do you praise your employees often?

    “Appreciate everything your associates do for the business. Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. They’re absolutely free and worth a fortune.” – Sam Walton

    Do you praise your employees easily, sincerely and often?

    If not, you may be losing out on an opportunity to trigger a dopamine release which can then boost innovative thinking and creative problem-solving.

    Take Action – Catch someone doing something well and praise them promptly.

    Tomorrow, Friday March 5th, is National Employee Appreciation Day. How will you appreciate your employees?

    Increase your skills to more effectively engage your employees. For more information on our new Employee and Mobilize Engagement Program

    Your organization may be eligible for funding through the Re-Open Saskatchewan Training Subsidy. Employers receive 100% reimbursement for approved training up to $10,000. The deadline to apply for the Training Subsidy is March 31, 2021.

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    Support staff to thrive in their zone of genius

    “It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch, former CEO of GE

    Do you help your employees understand how important their work is to the business success?

    If not, you may be missing out on your employees’ best efforts. It is energizing to know when your natural abilities contribute to achieving a mission. This brings purpose to the work. Using natural abilities is the ‘zone of genius’ where employees excel!

    Take Action – To help your employees thrive in their zone of genius, share how their talents and work contribute to the organization’s purpose and mission.

    Check back for more tips to take action as we build towards National Employee Appreciation Day, Friday, March 5th

    Increase your skills to more effectively engage your employees. For more information on our new Employee and Mobilize Engagement Program

    Your organization may be eligible for funding through the Re-Open Saskatchewan Training Subsidy. Employers receive 100% reimbursement for approved training up to $10,000. The deadline to apply for the Training Subsidy is March 31, 2021.

     

     

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    Regularly recognize your employees’ performance


    According to the Cicero Group, research shows that employees receiving strong performance recognition are much more likely to be highly engaged at their job. They are also more likely to perform at their maximum output and develop innovative ways to improve their company.

    Do you make it a practice to regularly recognize your employees’ performance?

    If not, you may be missing out on supporting your employees to use their strengths towards their best performance.

    Take Action – Take the time to personally get to know your employees so you know how they prefer to be acknowledged. Then acknowledge your employees often!

    Check back here for another employee engagement tip to take action as we build towards the big day: National Employee Appreciation Day on Friday, March 5th.

    Increase your skills to more effectively engage your employees.
    For more information on our new Employee and Mobilize Engagement Program

    Your organization may be eligible for funding through the Re-Open Saskatchewan Training Subsidy. Employers receive 100% reimbursement for approved training up to $10,000. The deadline to apply for the Training Subsidy is March 31, 2021.

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    Importance of showing appreciation for your staff  

    “You never know when a moment and a few sincere words can have an impact on a life.” – Zig Ziglar

    Do you regularly show appreciation for your staff members?

    If not, you could be losing an opportunity to provide encouragement.

    Tip – A simple thank you can make them feel more valued in the workplace and also brighten up their day!

    Check back here for another Employee Engagement Tip as we build towards the big day: National Employee Appreciation Day on Friday, March 5th.

    Increase your skills to more effectively engage your employees.

    For more information on our new Employee and Mobilize Engagement Program:

    Your organization may be eligible for funding through the Re-Open Saskatchewan Training Subsidy. Employers receive 100% reimbursement for approved training up to $10,000. The deadline to apply for the Training Subsidy is March 31, 2021.

     

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    Local Business Leader Transition Research Finds that Businesses Could Lose Millions

    Happy to have our article, Local Business Leader Transition Research Finds that Businesses Could Lose Millions, in The Edge Magazine’s blog.

    If you want to learn more about how to establish consistent key practices to create successful leader transitions please reach out.

    https://www.dbpc.ca/blog/

    #leadertransitions #leadershipdevelopment #leadershipcoaching #leader #redworkscoaching #executivecoaching #businessleadertransitionresearch

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    Tip #4 to Get Ready to Rediscover Yourself in Retirement

    Do you desire joy and a sense of purpose? Then the best thing you can do is prepare for the emotional and psychological impacts of your post-career life! Preparing for a purpose-filled retirement is not all about the money.

    Here is tip #4 to help make your transition a smooth one:

    Share your retirement plans with your partner or family
    If you have a partner, it’s very important to be on the same page when it comes to plans. Share your ideas with your children or trusted friends. Feeling supported is important.

    There are key elements that need to be considered to plan for a smooth transition and a happy retirement.

    You don’t have to do this alone. I can help you get there.

    Find out how with the Power UP Your Retirement Lifestyle Program.

    Special pricing to get you going. Save $300 until January 31.

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    Tip #3 to Get Ready to Rediscover Yourself in Retirement

    Do you desire joy and a sense of purpose? Then the best thing you can do is prepare for the emotional and psychological impacts of your post-career life! Preparing for a purpose-filled retirement is not all about the money.

    Here is tip #3 to help make your transition a smooth one:

    Create a plan and set goals
    If you think preparing financially is the only type of planning and goal setting you need to do, think again! Preparing and planning for the emotional and psychological impacts of retirement and your lifestyle is key.

    There are key elements that need to be considered to plan for a smooth transition and a happy retirement.

    You don’t have to do this alone.

    I can help you get there.

    Find out how with the Power UP Your Retirement Lifestyle Program

    Special pricing to get you going. Save $300 until January 31. 

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    Leader Transitions Create Risk

    Leader transitions create risk at every level of the organization and profitability, productivity and morale can be negatively affected.

    What are potential risks for your business? What action will you take to mitigate these risks?

    Attend our free Leader Transition is Risky Business Lunch and Learn and discover what your risks are and tips to prepare your leaders for success.

    January 27th at 12 pm CST.

    Register today. https://lnkd.in/grsPVgr

    As a bonus for attending you will receive the Leader Transition Readiness Assessment to determine your readiness to support leader transition.

    #businessinterruption #leadershipdevelopment #leadershipdevelopmentcoaching #leadershiptransitionresearch #leadertransition #leadertransitionisriskybusiness #manageleadertransitions #redworkscoaching

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    Leader Transitions: From Risky Business to Uncovering Opportunities

    A change in leadership is a time of flux and change for everyone – the leader and the team. These transitions create potential risks at every level of the organization and profitability, productivity and morale can be negatively affected. In fact, research has shown that nearly 50% of leader transitions fail.

    It is crucial that businesses look at decreasing and preventing key challenges leaders in transition are facing.

    Leader transition research conducted by Kathleen Ozmun and Marielle Gauthier, found a number of opportunities to ultimately lower the risks, increase productivity and quality of work, and foster better stakeholder relationships, all of which impact the bottom line.

    Businesses that enhance their support for these transitions position themselves to gain benefits such as:

    • Reduce risks and costs
    • More resilience as a business
    • Business continuity
    • Maintain revenue stream
    • Better relationships with key stakeholders
    • An engaged and informed workforce
    • Maintain productivity and high quality work
    • Consistent excellent customer service
    • Smoother organizational changes

    Gauthier and Ozmun recommend a comprehensive multi-faceted approach for a successful business leader transition. Initial actions as a starting point are:

    • Create a leader transition support team to accelerate role effectiveness
    • Equip leaders to nurture and build strong stakeholder relationships
    • Develop a cross-training program aimed at building the skills of employees in the company

    These articles will help you assess your current business situation, the risks and impacts of your leader transitions, and ways to support leaders in transition.

    Find out more about the risks of leader transitions and actions to take at the free ‘Leader Transition Is Risky Business’ Lunch and Learn, January 27, 2021.

    Register Now.