Employee Engagement Statistics That Impact Your Business

12 June 2020

The costs of hiring a new employee are really astronomical. According to new research of more than 600 US businesses with 50-500 employees, US employers spend $2.9M per day looking or replacement workers, which is $1.1B per year!

But wait, you’ll say, aren’t there so many ways to increase employee motivation and engagement?

There are, indeed, yet many companies still underestimate their significance and power. For example, let’s take such a simple yet extremely effective tool as feedback. Have a look at these stats.

According to the recent survey by PwC, nearly 60% of respondents reported that they would like feedback on a daily or weekly basis—a number that increased to 72% for employees under age 30.
More than 75% of respondents believe that feedback is valuable.
About 45% of respondents also value feedback from their peers and clients or customers,
Yet less than 30% said they actually receive it!

So, the problem isn’t that there aren’t any tools or that they all are ineffective, it’s that companies don’t realize how much hassle and money it would actually save them to use those tools in the workplaces to keep their workers happy.

We hope today’s bits of stats will inspire you to review your recognition programs and make sure your each and every employee receives sufficient feedback and feels valued and appreciated.

Emplyee Feedback and Engagement Statistics

Greater profitability was hsown by managers who received feedback on their strengths 8.9%

Of emplyees say they would work harder if they felt their efforts were better recoginzed 69%

Of respondents agreed that negative feedback, delivered appropriately, is effective at improving their performance 92%

Lower are turnover rates for companies who implement regular emplyee feedback 14.9%

Emplyee Feedback and Engagement Statistics

Of workers strongly agree that the feedback they currently receive hepls them do their work better 27%

Of emplyees who receive accurate and consistent feedback feel fulfilled in their jobs 68%

Of both employees and executives cite a lack of collaboration and ineffective communication as the main reason for workplace failures 86%

Of highly-engaged employees receive feedback at least once a week 43%

Emplyee Feedback and Engagement Statistics

Was an average score(on a scale of 1-10) given by workers to managers who gave the right amount of feedback 8.6%

HR leaders agree that ongoing peer feedback and check-ins have a positive impact on their organizations 90%

Of managers wish they had a better way to collect feedback from theirteam to assist with performance discussions 66.66%

Thing that managers could give employees to inspire them to produce great work is RECOGNITION 100%