If you’re in management, getting to really know your team is critical to your success as a manager of people. Defining expectations and the role in which you want each one to perform is so important in helping your team stay engaged.
But statistics suggest that most managers aren’t even considering the importance of engagement: 75% of leaders have no engagement plan or strategy even though 90% say engagement impacts business success (ACCOR). In addition, less than 50% of chief financial officers appear to understand the return on their investments in human capital (Accenture).
Why is engaged “human capital” important? Well, the stats tell the story there, too:
- Actively disengaged employees cost the U.S. economy $370 BILLION annually. (Gallup)
- 70% of engaged employees indicate they have a good understanding of how to meet customer needs; only 17% of disengaged employees say the same.
- 78% of engaged employees would recommend their company’s products or services; only 13% of the disengaged would do the same. (Gallup)
Now that you know the numbers, the question is this: How will you start in developing meaningful relationships with your employees?
If this is a topic that interests you, dig deeper with my book RINGMASTER: 8 Strategies To Become a Star Performer in the Midst of Change.