If I were to suggest that Vermont employers annually meet on the Statehouse lawn to burn $640 million dollars in cash, you'd probably think I need to talk to a psychologist.
Yet, Vermont employers do this each and every year by not engaging their employees.
Gallup's research on employee engagement indicates that employers waste nearly $3,400 per $10,000 of salary when paying actively disengaged employees. This $3,400 "investment" in your people returns absolutely no benefit. None.
Furthermore, about 14% of Vermont's employed workforce is actively disengaged. That's nearly 47,000 people actively working against their employer's initiatives. If each of them are earning an average of $40,000, (approximately Vermont's median income) then we might as well "burn" close to $13,600 for each person. That's nearly $640 million each and every year. Yes, million with an "M".
For those who don't want to waste salary dollars, here are some suggested action items:
In my next post, I'll highlight in greater detail how developing your team's talents ties to enhancing employee engagement. Watch this space.