Employee “Engagement” and “Passion” in the Work Place. What does that Mean Anyway?
These days, we hear a lot about the terms, employee “engagement” and “a passion” for one’s work. These words are used in ubiquitously our homes, in our schools, and within our work places. However, what exactly does it mean? How do you define it what and how can it apply to you and your work life?
To begin, Employee Engagement is defined as, “the emotional and functional commitment and connection an employee has to his or her organization”. Additionally, Passion is defined as “a strong feeling of enthusiasm or excitement for something or about doing something”. Now keeping those definitions in mind, let’s look at how that applies to our work place?
Work is a fact of life and is a necessary engine for the continued growth of our economy. However, the surprising truth is the majority of employees are not engaged in their work, which negatively affects, not only the bottom line of individual organizations, but to our economy as a whole. Here a few national statistics from a research study conducted by the Towers Watson Consulting Group (2011) to illustrate. Currently, in the United States:
- 71% of all employees are not fully engaged and 26% of those employees are actively disengaged
- The active disengagement costs is estimated to be between $450-$550 billion annually
- $11 Billion is lost annually due to employee turnover
- Only 41% of employees feel that they know what their company stands for
- Companies with engaged and passionate employees out-perform those without by up to 202%!
With the exception of the last bullet point, these are surprising and sobering facts. However, I feel they lay the groundwork for a future for more engaged and passionate employees. In an up-coming blog, I’ll discuss some specific ways to measure employee engagement and passion and improve that for higher levels of productivity and profits – maybe even upwards of 202%?!