The saying goes, Numbers don’t lie. They can show you where you need to increase focus and what you can change to make an organisation more effective.
Here are some staff survey statistics on employee engagement and digital adoption and transformation to inform your next business decisions.
Staff survey statistics on engagement
Employee engagement can be defined in several ways; the level to which employees feel invested in their work, the psychological investment employees have in the organisation, the enthusiasm and commitment that employees have at work. It is also described as the emotional commitment to the organisation.
Highly engaged employees are more productive, stay at jobs longer and positively impact colleagues. They go above and beyond their jobs and are those people who will recommend your services or products first. It pays to have engaged employees.
78% of companies have an engagement strategy
According to Maritz motivation, 78% of companies have a documented engagement strategy and about 50% measure success of that strategy. Strategies to improve engagement can include, clarifying goals and encouraging a culture of giving and receiving feedback.
It is no wonder that such a big number of organisations have an engagement strategy, those with high employee engagement outperform their counterparts across metrics from productivity to attendance.
A highly engaged workforce can increase profitability by 21%
An engaged workforce impacts the bottom line. This is because engaged employees report lower absenteeism, complete their tasks successfully and meet and exceed customer expectations, all of which can result in higher sales.
51% employees are disengaged in the workplace
According to a Gallup report, many companies in the US are unlikely to reap the benefits of an engaged workforce because 51% of employees surveyed were disengaged, leaving only 36% engaged and 13% who were actively disengaged.
In 2018, 40% of surveyed directors in the UK agreed that employee engagement was their biggest challenge.
Staff survey statistics on how purpose, ESG and CSR influence employee engagement
More than ever before, employees are more focused on the practices of the company’s they work for. One way to improve staff engagement is for a company to have a strong purpose. These statistics show just how highly this factor ranks.
According to The Cone Communications Millennial Employee Study, 64% of Millennials will not take a job if the company lacks a strong purpose. 83% would be more loyal to a company that helps them contribute to social and environmental issues.
And the commitment to social issues isn’t just good for the employee, it is good for the company as well, according to Benevity’s Engagement Study, turnover dropped by an average of 57% amongst employees actively involved in volunteering or CSR activities.
Lowering the employee turnover rate can increase productivity and save a company a lot of money. Studies show that the total cost of losing an employee can range from tens of thousands of dollars to about 2 times an employee’s annual salary.
Staff survey statistics on digital adoption
Digital transformation refers to the use of new tech to modify business processes and existing services. The benefits of adopting digital measures include; the ability to meet evolving customer needs, improve products and services, make processes more efficient as well as creating or tapping into new revenue streams. It is a matter that affects the global economy.
According to the International Monetary Fund, 65% of the world’s GDP is predicted to be digitised by 2022.
The International Data Corporation finds that digitally transformed organisations are projected to contribute to more than half of the global gross domestic product (GDP) by 2023, accounting for $53.3 trillion.
In a survey by Futurum, 39% of respondents agreed that digital adoption and transformation gave them new opportunities to improve their business.
Digital adoption played a significant role during the COVID 19 pandemic. Companies that were able to successfully weather the effects of the pandemic reported a reliance on technology.
According to a report by McKinsey 75% of companies surveyed said they had the ability to fill technology related jobs during the crisis and 67% said they were more advanced in using technology even before the pandemic.
One of the major benefits of digital transformation lies in its ability to meet and ease customer needs. According to a survey of executives, digital transformation’s top benefits include improvement of operational efficiency (40%), faster time to market (36%), and meeting customer expectations (35%).
In addition, Flexera reported that 37% of IT initiatives by companies worldwide are focused on improving customer experience.
Despite the benefits to be realised from digital adoption, it is looked at as a threat to a lot of jobs. Fortunately, 71% of executives stated that they find the workforce to be essential to digital transformation. These statistics show further interaction of digital adoption with labour force.
Staff survey statistics on the effect of digital adoption on labour force.
90% of jobs will require digital skills in the future according to the European Commission. 68% of executives believe that collaboration between people and AI will be key to the future of businesses.
However there is still a lot to be done if digital adoption is to be beneficial to all. 44% of workers aged between 16 and 74 in Europe do not have basic digital skills according to European commission.
41% of remote workers experienced cybersecurity incidents when their work setup shifted to a work-from-home arrangement according to KPMG.
A report by Futurm showed that 15.7% of businesses saw technology disruption as a job killer while 30% didn’t see any to job availability. Still, only 12% of respondents felt that digital adoption had created new jobs.
It is important to have a measure of sentiments towards policies and changes in the employee market. Staff survey statistics like these, can help to show a clear picture of the views and needs of employees.
Armed with this data, leaders are able to make decisions that can create an impact on their employees and their businesses.