Employees are the key to the success of any organization, and this is why most organizations are constantly working to keep them happy and satisfied. When employees are happy with their jobs, they are likely to be more productive and effective when compared to those who come to work grudgingly for a paycheck. However, satisfying employees is easier said than done because individual goals and preferences vary.
A broad approach that handles these differences among employees is called employee engagement. It includes a range of activities that addresses different attitudes, behaviors and outcomes of employees. Though the exact activities may vary from organization to organization, the general characteristics of employee engagement activities are that it is measurable, it can be correlated with performance and the outcome varies from poor to great.
Irrespective of the exact activities undertaken by different companies, the benefits tend to be similar. When employees are engaged, they tend to feel happy and satisfied. They have a greater degree of trust and bonding with the organization, so the chances for them to leave the company is minimal. In turn, this lower attrition rate helps the organization to save money and resources that would otherwise have to be spent in finding the right candidates and training them to work productively. In fact, a study conducted by Infosys BPO shows that a five percent increase in employee engagement led to 1.5 percent lower employee turnover. For an organization with 1,000 people, it meant 15 fewer people leaving the company every year and a saving of $1 million for the organization.Besides lower attrition rate, right employee engagement strategies reduce absenteeism rate and improve productivity because employees tend to have an innate commitment and emotional attachment with the organization. Hence, they are, in the end, a part of the organization's goals and objectives.
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