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The Best Places to Work.com

My thoughts:

Check back here often - I'll be sharing my finds
in the world of managing employee performance.
                                    -- Dan Prosser, CEO, 'the Best Places To Work'
 
 
 
The Find: The Payoff for Engagement
 

Watson Wyatt Worldwide (WWW) – the mega-Consulting company just released its 2008/2009 WorkUSA Survey Report:Driving Business Results Through Continuous Engagement’.

 

It’s a great read if you're into that sort of thing like we are. You can - and we recommend - you get a copy for yourself on their website at http://www.watsonwyatt.com/news/press.asp?ID=20559 .

 

What's particularly interesting about this report are some of the terms they use to describe companies where highly engaged employees are found - and the striking differences there are between high engagement and low engagement companies.

 

It’s been known for a while now that highly engaged companies perform better financially. WWW cites high engagement companies as returning 26 percent higher revenue per employee and a 13 percent higher return to shareholders. I'm sorry but if you’ve invested over any period other than the latest stock slide – you know that an average return of 13% on your stock portfolio is rare.

 

So, if you're a business owner or CEO, investing in your employee’s is the best investment you can make.

 

The survey confirms what most engagement specialists have known but haven’t easily quantified is that new employees exhibit high levels of engagement and then over time  – declines 9% in the first year and more than 12 percent over a 5 year period.

 

Managers, the report goes on to say, can impact engagement by leveraging “key moments in an employees work experience that strengthens both commitment and their line of sight to the vision and strategy of the company”.

 

WWW adds that companies can sustain their engagement over the long haul by creating a culture of continuous engagement built on strong leadership in a number of areas including strategy, customer focus, compensation and rewards, and communication (which typically has the lowest ratings in any company).

 

If you're interested in gaining an industry leadership position and maintaining it – get your hands on this report. It can help you see where to focus your attention over the next year or so while we ride out this latest of global economic conundrums.