When things get busy (and when aren’t things busy?!), it’s far too easy for employees and managers alike to coast through their work weeks and maintain the status quo. But perhaps this maintenance of the status quo is an indicator of a deeper issue – a lack of employee engagement. Statistics have shown that most people are unhappy at work. In 2013, even in a climate of business uncertainty and an unemployment rate of 7.8 percent, more than 2 million Americans were voluntarily leaving their jobs every month. So, how can you get employees to stay? And how likely are your employees to leave? As a manager, you need to be aware of some shocking research.
Here are eight statistics that should scare every manager:
1. 79% of employees who leave their jobs report “lack of appreciation” as a key reason for leaving. [i]
- This is a finding from a HealthStream study, which also made a point to mention that the respondents didn’t cite anything like “negative criticism, scare tactics, or even mean bosses” in their reasons.
2. 89% of employers think their people leave for more money. 12% of employees actually do leave for more money.[ii]
- Money is one of several factors that make up an employee’s level of satisfaction at work, but it is far from being the only motivator.
3. 36% of workers would give up $5,000 a year to be happier at work.[iii]
- Though providing workers with a decent living wage is one of the key elements that will get them to stay, this statistic shows that a good salary is not all it takes to retain top employees.
4. 80% of senior managers are not passionate about their work.[iv]
- If your management is not engaged in their work, it is going to be a lot more difficult for your employees to be engaged. How can they maintain an excitement in the company that their manager does not first exemplify, or even share?
5. 57% of interruptions at work come from either social media tools or switching between applications.[v]
- Are your employees being interrupted at work? Perhaps some of their interruptions are caused by themselves—encourage prudent social media limits at work.
6. Managers who provide little or no feedback fail to engage 98% of their employees.[vi]
- Can your company function on a 2% engagement rate? If not, then make manager feedback a priority. Think of the results your company could see with a higher engagement rate!
7. Even employees who receive NEGATIVE feedback are 20x more likely to be engaged than those who receive no feedback at all.[vii]
- Did you catch that? Negative feedback is even better than no feedback at all, but if you want to see the best results provide strengths-based feedback. Managers who provide strengths-based feedback are 30x more likely to manage actively engaged employees than those who give no feedback.
8. 78% of employers would stay with their employer if they saw a career path within the organization. [viii]
- Provide a structure in which employees can grow, and they will be much more prone to stay with you for the long haul.
Here’s an encouraging bonus statistic for you: A study of 64 organizations revealed that organizations with highly engaged employees achieve twice the annual net income of organizations whose employees lag behind on engagement. So, your task is to find out what your employees are missing at work and then do something about it! What is the best way to find out? Alan Hall, founder of GrowAmerica, recommends the following: I suggest you sit down with them and ask. Generally, they will tell you: a) I want to feel respected; b) pay me what I’m worth, and when I exceed expectations, share the wealth; c) be kind and considerate; d) let me fail, try and learn; and e) let me grow and develop my skills. There will be more answers in the mix, but these are the key responses you can expect.
Don’t let your company become one that matches these scary statistics—be bold enough to take the steps necessary to rise above them. Your company and your employees will thank you!
- 10 Shocking Stats About Employee Engagement
- 11 Statistics That Should Scare Every Manager
- 13 Scary Statistics on Employee Engagement
- Are Scare-Tactics The Most Effective Way To Get Results? Maybe
- 'I'm Outta Here!' Why 2 Million Americans Quit Every Month (And 5 Steps to Turn the Epidemic Around)
- The Alarming Workplace Stats ALL CEOs Must See
[i] Are Scare-Tactics The Most Effective Way to Get Results? Maybe: https://www.forbes.com/sites/davidsturt/2014/10/29/are-scare-tactics-the-most-effective-way-to-get-results-maybe/#18456ddd5301
[ii] 10 Shocking Stats About Employee Engagement: https://www.themuse.com/advice/10-shocking-stats-about-employee-engagement
[iii] 11 Statistics That Should Scare Every Manager: https://www.officevibe.com/blog/11-statistics-scare-managers
[iv] 13 Scary Statistics on Employee Engagement: http://switchandshift.com/13-scary-statistics-on-employee-engagement
[v] 13 Scary Statistics on Employee Engagement: http://switchandshift.com/13-scary-statistics-on-employee-engagement
[vi] The Alarming Workplace Stats ALL CEOs Must See: https://www.atiim.com/blog/the-alarming-workplace-stats-all-ceos-must-see/
[vii] The Alarming Workplace Stats ALL CEOs Must See: https://www.atiim.com/blog/the-alarming-workplace-stats-all-ceos-must-see/
[viii] 11 Statistics That Should Scare Every Manager: https://www.officevibe.com/blog/11-statistics-scare-managers