Building trust and respect in the workplace is a significant contributor to a high performing organisation. The better the relationships, the more productive the workplace. We’ve heard it before. We know it!
When the stakes are high, our emotions are strong and the conversations matter. During these times we often make a poor effort or a damaging attempt. Or we avoid these conversations altogether and this becomes the norm. After all…the issue will just go away won’t it? No…the effect is that employees become disengaged and there are always consequences.
As long as the job gets done does employee engagement really matter? Turns out it does…. much more than we care to acknowledge.
The research group Gallup conducted an extensive study of the effect of employee engagement in 2012. They looked at almost 50,000 businesses, nearly 1.5 employees in 34 countries and discovered that organisations that score in the top half of employee engagement have double the odds of success of those in the bottom half. Not only that, but those workplaces at the 99th percentile of engagement have four times the success rate.
This is the eighth year Gallup has done a study like this, and the results have been remarkably consistent each time. And if you are interested in what the bottom line with low employee engagement is then have a look at this compelling data.
High employee engagement is actually deemed critical to a company’s performance and, according to Gallup, it impacts nine key performance outcomes in these ways:
- 37% lower absenteeism
- 25% lower turnover (in high-turnover organizations)
- 65% lower turnover (in low-turnover organizations)
- 28% less shrinkage
- 48% fewer safety incidents
- 41% fewer patient safety incidents
- 41% fewer quality incidents (defects)
- 10% higher customer metrics
- 21% higher productivity
- 22% higher profitability
So…is it possible to have true relationships without the conversations that need to be had? You tell me.
Good strategy is nothing without good people. Moving your business forward relies on people working together. Great communication needs great conversations, which creates accelerated communication.
Georgia Murch in conjunction with DeakinPrime will be running Can We Talk? workshops in Melbourne and Sydney.