Ep. 70: The 5 success factors to build an engaging workplace.
The cost of replacing a disengaged employee who pulled the trigger and decided to leave your organization is pretty high. According to Gallup, an actively disengaged employee costs their organization $3,400 for every $10,000 of salary, or 34 percent. Let’s say you have 100 employees, and 20% of them are completely disengaged. Now you can figure out the cost of those disengaged employees. So, say your workforce’s median salary is $60,000 a year. That means each disengaged employee costs you $20,400 on average, or 34 percent of their salary ($60,000 x .34). That’s $408,000 per year! The cost of an employee leaving and of the time required to bring up to speed a new hire is 231% of the salary and up to 2 years to be fully productive. That’s insane! Yes, leaders either don’t see the cost or simply don’t care. It’s a problem! How do you develop a thriving workplace where people are aligned with their work and the organization? Well, it starts with the people in charge, and cascades through the organization. Laurie Battaglia is the author of the book Aligned Workplaces: Integration of Life and Work: A Practical Guide for Leaders and Teams and CEO & Workplace Strategist at Aligned At Work. Today with Laurie we talk about: - The cost of employee disengagement and turnover. - What are the 5 success factors to build an engaging workplace and how leaders can implement each of them: * vocation * relationships * finances * wellbeing * spirit Note: you can follow Laurie on LinkedIn and Aligned At Work on LinkedIn, Twitter, Facebook.
This episode is brought to you by Fusion Alliance. Fusion Alliance delivers holistic solutions fusing together data, digital and technology to redefine customer experiences and move your ideas to execution. That’s why businesses across multiple industries have relied on Fusion’s expertise and partnership for over 25 years.
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