You know you have a challenge on your hands. But you don’t know how to fix it.
Eighty-five percent of employees worldwide say they aren’t engaged in their workplace.
That means most of your workforce is dissatisfied. But how do you solve the problem?
Why Companies Are Failing to Improve Engagement
In some cases, companies might not know the best way to improve engagement. Or unfortunately, they just don’t care.
Here are three reasons why companies are neglecting to improve employee satisfaction.
1. Companies Don’t Want to Spend the Money
Many companies are focused solely on their bottom line, so employee needs can sometimes be overlooked. Unfortunately, this can quickly reduce employee satisfaction and be a main factor in workers leaving for a better job.
While some businesses feel they can always find another employee to fill a vacant position, managers often forget about the costs associated with a new hire.
According to the Center for American Progress, the cost of replacing an employee averages between 10 and 30 percent of an employee’s annual salary. That’s $10,000 and $30,000 for a role that pays $100,000 dollars each year. For more executive or skilled positions, it might cost companies more than 200 percent of the annual salary due to the extra time it takes to find a highly qualified candidate.
When you consider these figures, it might be more cost-effective for businesses to spend the money to improve employee engagement.
2. Companies Are Hesitant to Change Their Management Style
Businesses often fear change.
Once managers get into a routine, it’s sometimes hard to try something new. However, those old ways may not be the best for keeping employees engaged. For instance, a Gallup study shows only 20 percent of employees feel they are being managed in a motivating way.
Leaders need to reflect on their management style and make necessary changes to empower and engage their employees. When workers are managed based on their needs, not their manager’s, they’ll have a higher level of engagement.
3. Companies Don’t Know the Best Way to Change
In many cases, companies may have the best intentions. They’ll send employees to conferences or professional development sessions in hopes of getting their workers happy and motivated.
The problem begins when those employees return to work with bold new ideas about how to improve their work but are met with resistance. Those employees then begin to feel their opinions are not valued and their level of disengagement increases.
This problem may be more common than you think. Only 1 out of 3 employees say they have the opportunity to do what they do best. This could be a problem with managers not recognizing the strengths and abilities of their workforce or companies failing to adapt to new changes.
However, if companies are willing to invest the time and money to send their employees to learn new methods and techniques, they need to also be willing to try some of the ideas their employees bring back.
It’s Not Too Late to Change
It’s no secret that finding the right balance between your core business needs and employee satisfaction can be tricky.
Fortunately, you don’t have to figure it out on your own. The trained specialists at Engage & Grow will look at your unique situation and help guide you to a solution that improves your employee engagement without compromising your business goals.
Contact us today to learn how a happy workplace can lead to a happy bottom line.