The Cost of Inaction ๐Ÿ’ธ

Hey there!

This is Mariam Mushtaq from HR Brain Pickings. ๐Ÿ‘‹

In this issue, we will cover a very powerful angle to building a business case for employee engagement - by calculating the cost of employee disengagement. ๐Ÿ’ฐ

The Financial Reality of Employee Disengagement

Did you know? According to Gallup, employees who are not engaged or actively disengaged cost the world a staggering $8.8 trillion in lost productivity, equating to 11% of global GDP.

That's a number too big to ignore! ๐Ÿค‘

In our fast-paced business world, it's easy to sideline employee engagement, often seen as a 'nice-to-have' rather than a 'must-have'.

But here's the thing: By not engaging employees proactively, companies might actually already be losing money. ๐Ÿ“‰

Disengagement can sneak up on you. ๐Ÿ•ต๏ธโ€โ™‚๏ธ

It's like an invisible expense account that keeps growing. ๐Ÿ’ธ Think about it โ€“ higher turnover, dwindling productivity... these are not just numbers, but real challenges that can hurt your companyโ€™s bottom line in the long run.

These costs creep up silently, often unnoticed in everyday hustle and bustle, but their impact on companyโ€™s financial health is very real. ๐Ÿ’ผ

Costly Consequences

Employee disengagement can lead to some very costly consequences. Here's a breakdown:

๐Ÿ“‰ Decline in Performance

Disengagement can lead to reduced morale, impacting both individual and team performance. This isn't just a dip in numbers; it's about the overall productivity taking a hit.

๐Ÿ”„ Retention Challenges

Gallup reveals that 59% of employees are disengaged, leading to higher turnover and, you guessed it, increased recruitment costs. That's talent walking out your door!

๐Ÿš€ Missed Growth Opportunities

An disengaged workforce means stifled innovation. Gallup finds that engaged employees are 43% more innovative. Not tapping into this potential is a missed chance for growth.

๐Ÿ‘Ž Negative Impact on Company Culture

A disengaged team can lead to a demotivated work environment, impacting your ability to attract and retain top talent. This could even dent your brand reputation over time.

Unlock Free Calculator๐Ÿ”“

It's time to crunch some numbers. While the figures we discuss here are based on Gallup's research and should be seen as ballpark estimates, they highlight the financial weight of disengagement.

To get a tailored view for your organization, try out our simple Cost of Employee Disengagement Calculator.๐Ÿ“Š

Todayโ€™s Key Takeaways๐Ÿ—’๏ธ

New Survey Alert! ๐Ÿค“

๐Ÿ” Shape the Future of Work: Rewards & Recognition Survey + Win a Prize! ๐Ÿ”

We're on a mission at Springworks ๐Ÿš€ to raise awareness on the positive impact of employee engagement initiatives such as rewards and recognition.

Could you lend us just 5 minutes for a survey? ๐Ÿ•’ It's all about how these initiatives drive productivity and contribute to company goals.

And guess what? Your thoughts could turn into a $50 Amazon voucher (yes, there's a lucky draw!). ๐ŸŽ‰

As a cherry on top, you'll get first dibs on our insightful report crafted from your survey responses โ€“ sent right to your inbox. ๐Ÿ“ง

๐Ÿ—ฃ๏ธ HR Voices: Real Stories, Real Insights

Whatโ€™s In A Name? ๐Ÿค”

โ€œI remember this one time when we were all on a work-related video call, having a serious discussion. Suddenly, one of my colleagues, not realizing he wasn't on mute, started talking to his girlfriend. "Hello my love, how are you Sara? Yeah, I'm on this boring video call... Sh*t, I'm not on muteee!" The aftermath of that call was quite something, especially since everyone thought I was his girlfriend, as my name happens to be the same.โ€

๐Ÿ”Ž Submitted anonymously by a reader. Fictional name used for dramatic purposes.๐Ÿค“

Submit your own stories and experiences to be featured in our newsletter. ๐Ÿ’Œ

Todayโ€™s Reads

  • Uncover the sweet spot of PTO for optimal employee happiness and productivity! ๐ŸŒŸ

  • Master the Tech Wave! Dive into these insights by SHRM on the essential tech skills every HR professional needs in the digital age.๐Ÿš€

  • ๐Ÿ” Unlock this Companyโ€™s Secrets: Discover How No Layoffs and Long Tenures Boost Employee Retention!

If you have any additional feedback or want me to cover a specific topic, interact with the feedback poll above. ๐Ÿ—’๏ธ

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