Engage Your People, Enrich Your Profits
An Executive Forum Synopsis Presentation by Rita V. Bailey, Synopsis by Rod Cox
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“According to a Gallup study, the dollar effect of disengaged employees is astronomical, costing U.S. businesses about $300 billion a year. The bottom line impact is shown in such tangible indicators as low productivity, high turnover, reduced profits, and a waning customer base.
Rita Bailey argues that platitudes like “our people are our most important asset” are insufficient, unless they include specific employee engagement actions. “At best, they are hollow; at worst, they magnify the disconnect between what is said and what is done.” Her focus is on the short- and long-term consequences of employee engagement, as well as the associated costs.
Touting compassionate reasons (i.e., “it’s the right thing to do”) as the justification for employee engagement is not the way to go. Bailey says leaders need a more tangible business reason, a “What’s-In-It-For-Me” message that resonates at all levels of the organization, including Finance. Her central thesis: engaged employees enrich profits”