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:
Utilize Gallup's Q12 Engagement Survey to assess your employees' engagement levels, and identify areas where your people need some attention.
Take the CliftonStrengths assessment so you understand your personal, unique value and contribution. If you know what you do best, it's less likely you'll be wasting your own salary.
Engage me as your coach to help you and your team members understand what each of you contribute and how you can personally develop.
In my next post, I'll highlight in greater detail how developing your team's talents ties to enhancing employee engagement. Watch this space.