Did you know that low engagement from employees costs companies 18% of annual salaries?
Or how about that organizations lose more than $2,000 for every disengaged employee?
Or that disengaged employees cost businesses $3,400 to $10,000 in lost productivity?
These statistics from Gallup are a grim reminder of how lack of employee engagement affects a company’s bottom line. Other reports and sources state that these numbers could be even higher.
There are some companies however who aren’t losing a dime to disengagement. Their employees are motivated, dedicated, and productive. Their profits are stable and on the rise.
We sifted through several articles to find a list of companies that are doing it right when it comes to employee engagement. Look below and see how some of the world’s biggest businesses are keeping employees happy, and in turn staying successful.
1) Google
Of course, we had to start with a giant – it helped us with our research!
Google is dedicated to its employees’ well-being and engagement. Some of the perks it offers include transferable stock options; subsidies for hybrid vehicles; fitness studios, on-site yoga and massages, and entertainment areas (foosball anyone?); plus, unlimited meals; and hybrid and remote work options.
Google also places a high emphasis on the 80/20 rule – 80% work, 20% creative time. The initiative is quite effective. It breeds some of the company’s most innovative ideas such as AdSense – one of its most profitable programs.
2) Cisco
A clear vision, strong workplace standards, employee recognition and feedback, have helped Cisco become a leader in employee engagement.
The global tech company has done a compelling job in keeping teams across cities and continents connected. One way is by providing employees with direct access to the executive team. Birthday Chats for example is for the CEO to spend at least one day developing personal connections with employees and answering their questions. This has allowed teams to voice their concerns directly to the source and has helped executives apply ideas and feedback to solve problems.
Another initiative that has helped Cisco employees stay engaged is innovation. The Cisco Innovation Centres allows organizations and inventors from around the globe to display their ideas and developments. There are 11 state-of-the-art global facilities all aimed at “accelerating opportunities, deepening relationships, and fostering innovation.”
3) Mastercard
Mastercard too is driven by creating a learning environment for all. It places a high focus on diversity and inclusion training; frequently seeks feedback from employees; and invests in their development.
Their programs offer support, tools and resources employees need to learn and up-keep their skills in an ever-changing industry. Skills that will be useful not only for today but also in the future. These skills are measured through development cards that help keep employees on track in their careers and allows Mastercard to analyze the information for further development.
The company also understands the benefits of work-life balance. Their policy is: “when you feel well, you live well – personally and professionally.” Some examples include flexible work options; minimum three weeks of vacation; parental leave for employees around the world; volunteer incentives; and matching contributions for retirement that is 10% of base salaries.
4) Wegman’s
Wegmans spends millions of dollars on employee development programs and scholarships. For 20 years, it has been recognized as one of Fortune’s 100 Best Places to Work.
Company perks include generous health and dental coverage; assistance for adoption, child care, and elder care; help with legal consultations and financial planning; and access to Wegmans pharmacists and dieticians.
The grocer is also dedicated to providing their employees with the most memorable and beneficial training experiences. For example, it sends its deli workers to countries like Italy and France, where they can learn about the origins of the food they serve and how best to prepare it.
5) Patagonia
Patagonia’s overall company mission is inspiring: “build the best product, cause no unnecessary harm, and use business to inspire and implement solutions to the environmental crisis.” It is committed to this mission so much so that the CEO recently announced that he’s donating the entire company to fight climate change.
One of the company’s most family-focused benefits is on-site childcare – which it’s been providing to its employees since 1983. The firm states that “supporting our working families isn’t just the ethical thing to do (which, frankly, should be all we need if we are to be responsible leaders), it will also balance out financially.”
Patagonia is a certified B Corporation and gives 1% of its sales to help the planet. Being environmentally responsible is in its DNA, but perhaps the most vital component of its success is that it is a company known for putting its people before its profits.
We hope you take inspiration from these great companies. Also look at your organization and do the math of what 18% of you annual salaries could be costing the company in employee disengagement.
