With employee engagement declining in North America, the next question to ask is the toll and cost this disturbing trend is having on business. The bottom line, low employee engagement may be costing you $6k per employee.
Halogen Software recently shared this infographic outlining the “dollars and cents of employee engagement”. What I really enjoyed is the excellent write-up and analysis provided by Dominique Jones of Halogen providing both context, 3rd party research and a set of solid assumptions. Dominique is the VP of HR for Halogen and I look forward to reading more great posts from her.
In her analysis she shows how a company with 500 employees may be losing $3m dollars per year due to poor employee engagement. That’s a lot of coin not falling to the bottom line, $6,000 per employee.
There is hope with 76% of employees showing improvements in engagement with intervention. One of the easiest things a company can do to engage employees is to implement a peer-based recognition program. We have seen rates of +90% voluntary employee participation in these programs that get the whole team fired up.