This suggests that more than three quarters of employees are not engaged, a huge waste of organisational resources that we can’t afford in this all out super-competitive world that we now live in.
Until relatively recently, technology initiatives in employee engagement largely comprised of employee benefits programmes filled with financial products like life insurance and mortgages. They did a much better job of delivering profit to insurance brokers than helping to engage or reward employees and unsurprisingly, business leaders weren’t noticing results.
Investing only in remuneration and benefits can sometimes have a short term impact on attrition but done in isolation it will have no impact on employee engagement. In fact over-investment in pay and benefits at the expense of wider employee engagement activities can lead to the worst of all organisational outcomes: a very expensive but disengaged and demotivated workforce that has low attrition because staff are trapped in a job by salaries or packages they can’t match elsewhere.