It should be a component of your HRMS strategy because employee engagement has a significant impact on business performance. The secret to creating a successful company is ensuring employee involvement. Only 20% of workers worldwide are actively involved in their occupations. How is that happening?
To help you better grasp its significance and assist you in driving engagement going forward, we’ve put up a list of 8 employee engagement statistics that you should be aware of.
Let’s look at what employee engagement is and why it matters in the workplace before getting into the statistics.
What is Employee Engagement?
According to Gallup, engaged employees are “those who are invested in, enthusiastic about, and committed to their work and workplace.” In other terms, it refers to the optimistic attitude that employees display. It is a reference to how enthusiastically they approach their job and how eagerly they want to help the company succeed.
Employee engagement is more crucial than ever in today’s market because practically every business is becoming increasingly competitive. Engaging your employees through Human resource management has the potential to change the game. It can either help you keep your best performers and scale up to meet your goals, or it can be the reason you lose them.
Importance of Employee Engagement and HRMS
As was previously mentioned, engaged employees give the company their best effort and are eager to go above and beyond to help the company succeed.
The majority of companies now place a high priority on employee engagement and HRMS, and here’s why:
- The workplace becomes more productive when employees are engaged.
- When compared to their peers, engaged workers perform better.
- Engagement among employees raises spirits at work.
- Absenteeism decreases when employees are engaged.
- Customers receive better service from engaged employees.
8 Employee Engagement Statistics you need to know
Highly Engaged Employees Produce 21% More Profitable Businesses
Employee engagement is more than just subjective, emotional evaluations of workers’ well-being.
We should notice more about HRMS when developing a business plan. HRMS has a significant impact on how well a company does.
An investigation revealed that the businesses or work units with the greatest employee engagement scores had levels of profitability that were 21% greater than those in the lowest bracket. The productivity of businesses with highly engaged employees was also 17 percent greater.
1 in 3 professionals cites boredom as their main reason for quitting their work.
According to a 2018 Korn Ferry Survey, the majority of individuals switching jobs – 33 percent. They cite boredom and the need for new challenges as their main reasons for doing so. As a result, it’s critical to provide employees with sufficient challenges and variety in their work to maintain their interests.
Only 29% of employees are content with their opportunities for career advancement.
Only 29% of employees are “extremely happy” with the present career growth options available to them in the company they work for, according to SHRM’s 2017 Employee Job Satisfaction and Engagement Report.
The SHRM study found that only 30% of employees were content with their current status. 30% of workers rated professional development possibilities for learning and personal improvement in general as very important.
Employee Absenteeism Drops by 81% with a Rise in Employee Engagement
The main factor causing employee absenteeism, other than pay and work environment, is a lack of engagement. In addition, if you work on this, you can guarantee that you always have a reliable staff on hand. Keeping your employees comfortable and happy is only one aspect of employee engagement. It involves inspiring, aiding, encouraging, and giving guidance.
37% of workers believe that recognition is the most crucial.
In response to the question of what a manager or business could do to assist an employee to succeed, the majority of respondents (37%) named recognition as the most essential kind of encouragement.
Employee engagement will inevitably decline if employers take them for granted.
As an alternative, you could make sure that your employees feel valued and heard. Employee involvement and taking ownership of one’s work output to improve as a result of recognition, also increases motivation, pride, and self-confidence at work.
4X More Revenue at Companies with Strong work Cultures
In a significant long-term study, businesses with the strongest corporate cultures, which supported all-around leadership activities, and which highly valued their staff, clients, and owners saw revenue increases of more than 400 percent.
An organization that focuses on developing its company culture and increasing employee engagement will gain the benefits of more income, higher productivity, and higher employee engagement. Company culture and employee engagement go hand in hand.
Employees Are Considering Quitting Their Jobs in 73% of Cases
Despite not currently looking for work, 73% of employees said they would consider leaving their jobs for the appropriate offer in the 2021 study.
Companies should watch out for a domino effect in their workforce. Employees are more likely to hunt for a new job if their coworkers are doing so as well.
85% of workers do not feel engaged at work.
Only 15% of employees are engaged in their employment, according to Gallup’s State of the Global Workplace. This indicates that the majority of workers worldwide either have a bad opinion of their place of employment or merely put up the bare minimum effort necessary to get by each day, with little to no emotional commitment.
How can Elate HRMS will help you in employee engagement?
The Human Resource Management System (HRMS) is essential for the expansion of the business. The company must maintain a positive working connection with its employees. This keeps thorough records of all of their important information because they are the company’s foundation.
Manage various processes, such as time and attendance, payroll systems, performance reviews, benefits administration, the applicant and employee tracking, etc., effectively. The best HR and payroll solution in Dubai, UAE is provided by Emerald Softwares.
A performance assessment evaluates and records an employee’s work performance. You can handle employee assessments in the HRMS by creating an appraisal template for each role that includes the performance-defining criteria and gives each criterion the right weights.
Effectively manage a variety of processes, including application and employee tracking, performance reviews, benefits administration, payroll systems, and time and attendance. Elate HRMS offers the top HR and payroll solutions in Dubai, United Arab Emirates.
One of the main factors influencing employee engagement is your HRMS strategy.
A company’s employees engage better, feel safer, and work more productively toward the organization’s goals when it has a solid human resource plan in place.
In the end, a poor HRMS causes employee dissatisfaction and poorer workplace productivity. Therefore, start with your HRMS software before you create your next employee engagement strategy.
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