Many assembly lines are currently running much slower than this time last year. As a result, there’s a lot more idle time on plant floors these days. Keeping employees busy is crucial to keep workplace morale and productivity high, according to a recent study conducted by Watson Wyatt Worldwide Inc. (Arlington, VA), a leading global consulting firm.
“When employees are highly engaged, their companies enjoy 26 percent higher employee productivity, have lower turnover risk and are more likely to attract top talent,” says Ilene Gochman, global practice leader for organization effectiveness at Watson Wyatt. “Their companies have also earned 13 percent greater total returns to shareholders over the last five years.”
According to Watson Wyatt’s WorkUSA study, highly engaged employees are twice as likely as their less engaged peers to be top performers. They also miss 20 percent fewer days of work and three-quarters of them exceed expectations in their performance reviews. Additionally, highly engaged workers tend to be more supportive of organizational change initiatives and resilient in the face of change.
“Keeping workers productive is always a daunting challenge,” says Gochman. “However, it’s even more crucial in this type of economic environment when organizations are striving to do more with less and employees are paying closer attention.
“There is no ‘one-size-fits-all’ approach to employee engagement,” adds Gochman. “Segmenting the workforce and tailoring communication, performance management programs and other resources to specific employee groups is the most effective way to engage workers. Improving employee engagement will help drive business results in the long run by improving employee commitment to corporate goals and generating exceptional individual performance and productivity.”