When a business considers the investment of an LED sign, it is often thought about as a tool to impress customers, not to engage employees. And because of this perception, companies fail to realize how disengaged employees in today’s world really are.
According to statistics in the US:
- Only 25% of employees are engaged at work
- 55% employees are not engaged
- 16% employees are actively disengaged
These are not encouraging figures at all, especially considering these employees are the newest and fastest growing workforce segment – the millennials. When comparing these statistics to the overall employees’ figures, millennials are the least engaged segment of the workforce.
One of the biggest differences between new workers and older ones is that the newer ones are more prone to frequent job changes. The above study also reported that 60% of millennials are presently open to new job opportunities. This is probably because the time frame that they have been working with one company is very minimal and also since they are younger, the responsibilities they have are much less, hence no commitment towards working for one particular organization.
While that is one perspective to explain figures, there is also the cultural perspective. Millennials have been raised with an attitude to devote attention on themselves as individuals and follow their dreams. So there is no reason for them to stick around at a workplace that does not make them feel engaged. When millennials who are engaged at work were questioned about new job opportunities, 64% of them said they are less likely to change jobs, even if the market improves within the next one year.
Employee retention is of utmost importance to a firm. Replacing one employee costs about 150% of the previous employee’s salary. Employees that do stick around make a vast difference to the bottom line performance of a business.
Harvard study reports:
- Workers in the top 1% of productivity add approximately $5000 in annual profit to a business.
- Toxic workers on the other hand cost a business $12000 annually.
And what’s worse is that those who are not happy at work spread their dissatisfaction to others, thereby lowering overall engagement and satisfaction levels amongst employees.
If we do some further research, plenty of studies are available to show that employees who are engaged at work are also:
- More committed
- More productive
- Work longer hours
- Stick around at one job for longer
- More innovative
- Increase profitability
- More collaborative
- Help bring together a sense of harmony amongst the workforce
American companies need to focus more on incorporating elements that engage the workforce. Simply throwing money at them won’t work because just a minor 12% of employees are said to leave current jobs for a better pay.
Employees obviously cannot engage themselves more at work; management needs to take the necessary steps to engage employees. One major factor that motivates workers is performance recognition. The National Business Research Institute proves that:
- 69% of disengaged workers feel that the management does not appreciate them.
- 49% of employees said that if another company recognized their efforts and contributions, they would immediately leave their current job.
It is clear enough that ‘recognition’ is important to employees. However, managers today don’t really have the time to personally go to each office cabin and evaluate workers, praise them individually or inform employees of the overall mission of the company.
How LED signs help in employee engagement
Thankfully, technology has a solution for this – digital signage investments. By displaying messages on LED signs located around the organization, the message can reach everyone, regardless of where they are.
- The messages can be repeated on a rotating roster so people keep reading it again and again and have it instilled in their minds.
- Real time data can also be displayed to give employees an idea of how the organization is progressing towards its goals.
- With integrated data feeds, processes can be streamlined, thereby giving employees more free time.
- Employees can be engaged with gamified solutions – in a manner where they don’t even know they are being involved, they just think they are having fun!