State of the American Workplace PART 1

Gallup 2017

SUMMARY

  • There are 100 million full-time employees in the American workforce; 33% are engaged (all in), 51% are not engaged (collecting a paycheck), and 16% are actively disengaged (resentful). 

  • Employees are less inclined to stay with a job simply because it provides a paycheck. They signed up for a certain experience, and if they don’t get it they will go elsewhere to find it. 

  • Millennials make up the largest generation in the workplace and are the most likely to change jobs. 

  • More than half (51%) of employees say they are actively looking for new jobs or watching for openings. 

  • 63% of employees believe it is “very likely” or “somewhat likely” that they would find a job as good as the one they have, up from 42% who said the same in 2010. 

  • When employees’ needs are met, they don’t just become “happier,” they become more engaged and better performers. 

  • Top quartile “engagement” businesses when compared to bottom quartile businesses experience 41% lower absenteeism, 59% lower turnover, 17% higher productivity, 20% higher sales, and 21% higher profitability. 

  • Leadership has an enormous job before them to define and execute a strategy to attract and retain top talent that is unlike anything they have done in their past. 

OUR POINT OF VIEW

  • The shift in power (implied contract) between employers and employees has dramatically changed. The combination of past employer actions, current economic conditions, and changing demographics puts employees clearly in the driver’s seat. 

  • Greater than 60% of employees believe the “grass is greener on the other side” and are actively shopping for new jobs. 

  • “Engaged” employees are as likely to leave as “Not Engaged” employees. Distinct engagement strategies must exist for both groups to minimize voluntary turnover. 

  • Collecting a competitive paycheck and benefits is necessary but not sufficient. 

  • Employers must also offer a combination of incentives, bonuses, recognition, and rewards to get and keep the attention of current and future employees. 

  • Using an on-demand dynamic “Total Rewards” strategy to create the experiences expected by employees is the keystone to improve engagement, fuel loyalty, and produce better business results. 

  • Forward thinking/acting leaders have figured this out and are harvesting healthy returns on their investments in obvious innovative easy to deploy solutions. 

Employers must also offer a combination of incentives, bonuses, recognition, and rewards to get and keep the attention of current and future employees.

Gallup, Inc. “State of the American Workplace.” 2017. Print.