Data from a recent Gallup study reveals that 85% of the workforce are either not involved or actively disengaged at work. According to this study, it leads to approximately four hundred and eighty-three to six hundred and five billion dollars lost in productivity in the United States.
Simply do the math in your own organization to calculate how much eighty-five percent of your current labor costs are. The alarming figure you obtain could be approximately how much you are losing to lost productivity. Even if it is half that amount, it results in a lot of money lost. Are you willing to give it away?
Are You Setting Up Your Employees For Failure?
According to the University of California, Irvine, an employee that is interrupted while performing a task takes an average of approximately twenty-three minutes and fifteen seconds to refocus and get back on track. Think about that for a minute.
Is there anything you could be doing to improve employee performance regarding interruptions? Are you setting up your workforce for failure when you combine tasks that have built-in interruptions? Sometimes, it can involve asking someone who is responsible for inventories to handle the telephone as well. At other times, the reason may be that the employees working close together while performing different tasks conflict with each other, causing them to continually question each other or engage in non-work-related conversations that distract them from the job at hand.
According to The McKinsey Global Institute, employees with superior talent are 80% more productive than an average employee. That certainly should have you thinking about your currently recruiting or retaining talent. In fact, Gallup found that superior performing employees have three things in common; they are talented, highly involved in the business, and have ten or more years with an organization. McKinsey goes on to state that highly involved employees are twenty to twenty-five percent more productive.
Are You Seeing A Trend Yet?
Talented and engaged employees are significantly more productive. This translates into a substantially more profitable business and offers a future for everyone at your organization! As managers or business owners, that is, or should be, the number one priority.
Give Your Employees A Purpose
So, back to the original question above, how important is improving employee performance to your business? If you’re in business to stay in business, it better be important!
To keep your employees engaged, you need to help them believe in what your organization is trying to provide to their customers. For example, a janitor working in a hospital is not just cleaning rooms; they are saving lives! If they don’t do their jobs properly, they could possibly kill the patient because they didn’t disinfect the surfaces properly. They have a purpose that will keep them engaged with the overall mission of the hospital.
In your business, you have to connect the lines of every position to your business’s overall mission and communicate how important each one is to the success of that business. Give each employee a purpose for showing up each day and ensure that they know how significant their contribution is to the company. Enhance their motivation by showing them how if they fail, everyone could fail!