Employee Engagement in The Modern Workplace
Employee Engagement Summary
Around 85% of employees are disengaged in UAE
Only 28% of Millennials feel engaged in the workforce
By 2020 50% of the global workforce will comprise of Millennials
Businesses in the top quartile of employee engagement average 22% higher profit
Top 10% of companies with engaged employees report 147% higher earnings per share then their competitors
What is Employee Engagement?
Employee Engagement is a workplace approach resulting in the right conditions for all members of an organization to give their best each day, committed to their organization’s goals and values, motivated to contribute to organizational success, with an enhanced sense of their own well-being.
Why is it important?
Did you know that more than a quarter of employees are at high-risk of turnover? What’s worse is that one-third of those at high risk of turnover are talented, motivated employees who exceed performance expectations. They can easily find other positions, and they know it. Research by Glassdoor in 2015 stated that around 54% of employees are confident that if they quit, they can find a comparable job within 6 months.
Why should we be concerned?
In recent times we have seen a lot of hype regarding disengaged employees, but Toronto based QCVB shifted its focus on the costs associated with this phenomenon. The results were astounding and surprising. One disengaged employee can cost in the region of $10,000 to the company. If we combine that with Gallup research, which stated that around 85% of your employees are disengaged, then imagine the business your company is losing out on.
Benefits of high Employee Engagement?
Businesses with more engaged employees have 51% higher productivity. Millennials, who are going to form 50% of the workforce by 2020, need more challenging and stimulating environments.
“Paychecks can’t buy passion”
They need socializing in-person with coworkers to make them more engaged with the company.
Where do we come in?
We are Workfam - the modern workforce. We want to create experiences for employees, resulting in them feeling more connected and engaged with their employer. Employees need to feel that they have a work family and they have certain obligations to them as well. This feeling can only develop when all employees enjoy their work and they can socialize freely through different functions.
What we do?
Workfam is a gamified Employee Engagement Solution that helps companies and their employees enjoy perks, rewards, and wellness experiences together. Our goal is to break work silos by promoting cross-segment collaboration, so that all departments can work together to achieve better results.
Our ultimate objective is to increase workplace happiness and employee engagement, so that employees feel they are an integral part of their organization. We want to connect the dots between individual roles and organizational goals. When people see that connection, they get a lot of energy out of work, feeling greater importance, pride, and meaning, and elevating Employee Engagement to new heights.
85% of UAE employees 'not engaged' in their jobs: Gallup
Key Statistics About Millennials In The Workplace
The (Millennial) Workplace of the Future Is Almost Here -- These 3 Things Are About to Change Big Time
How Employee Engagement Drives Growth
The Ultimate List of Employee Engagement Statistics
“Paychecks can’t buy passion” ~ Brad Federman