How are you connecting with your team members? According to a Gallup report from January 2024, engagement levels saw a slight uptick in 2023, with 33% of employees feeling engaged, up from 32% the previous year. Simultaneously, the rate of active disengagement dropped from 18% to 16%. Though these improvements are modest, they underscore the necessity for ongoing efforts to boost engagement within our organizations. There's a compelling business argument for improving engagement. Notably, engaged employees show a significant reduction in turnover risk—up to 24% lower, as highlighted by a recent ADP webcast. With unemployment rates below 4% for over two years, the financial impact of turnover can be significant. Replacing an employee can cost an organization between 1.5 to 4 times the departing employee's salary, according to analyses by Gallup and SHRM. Beyond reducing turnover, engaged employees contribute more robustly to their organizations, going above and beyond in their roles. This discretionary effort, as noted in the ADP presentation, could translate into an additional $9,000 in value per employee annually. Imagine the impact this boost could have on your organization. Yet, the purpose of employee engagement goes beyond the economic gains. At its heart, engagement builds deeper connections and a shared sense of purpose among team members, enhancing social bonds. These connections are crucial, satisfying our fundamental human need for belonging and significantly improving mental health by diminishing feelings of isolation. This is particularly crucial with remote and hybrid working arrangements. Embarking on the Path to Greater Engagement To cultivate a more engaged workforce, consider taking these steps: 1. Deepen Your Understanding of Your Employees Getting to know your employees involves more than a one and done type of engagement. It's about continuously striving to understand them personally. Dive into their motivations, aspirations, and preferred forms of recognition. This process can include surveys, one-on-one meetings dedicated to personal and professional growth, and town halls or listening sessions. These conversations should be ongoing in both formal and informal settings to keep pace with changing dynamics. 2. Establish Clear Goals and Expectations For employees to feel a sense of shared purpose and understanding, clear and collaborative goal-setting is crucial. Engage your team in defining these objectives, ensuring everyone is aligned and committed. Our piece on "3-Key Managerial Conversations" offers further insights and resources on this process. 3. Celebrate Achievements and Recognize Excellence To get your employees to engage, you need to engage with them. Acknowledging an employee’s work and contributions reinforces their value to the organization and strengthens their sense of belonging. Recognition can take various forms, from public commendations to personalized gestures of appreciation such as a heartfelt card, a gift card to a favored shop or service, discretionary leave, additional professional development, or perhaps something learned from point 1. This heartfelt gratitude can significantly enhance morale, productivity, and team cohesion. Conclusion Investing in employee engagement will certainly take additional time, commitment, and creativity, but the returns this investment will help you build a more robust organization with strong teams, increased productivity, and of course more resilient employees who feel valued for their contributions. Winsami Solutions & Consulting is here to help with your organization's employee recognition programs. Our mission is to support organizations in adapting their People & Culture practices to meet the needs of an evolving workforce. Resources: ADP webcast via SHRM https://www.gallup.com/workplace/608675/new-workplace-employee-engagement-stagnates.aspx#:~:text=In%20the%20latest%20reading%2C%20from,than%202020's%20high%20of%2036%25 . https://www.shrm.org/topics-tools/news/talent-acquisition/real-costs-recruitment https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx#:~:text=The%20cost%20of%20replacing%20an,to%20%242.6%20million%20per%20year . https://www.theretailbulletin.com/fashion/people-matter-the-power-of-connection-and-social-bonds-at-work-05-09-2023/ https://www.simplypsychology.org/maslow.html#What-is-Maslows-Hierarchy-of-Needs