Finding Engagement in a Hay Stack!
Employee Engagement Drives Loyalty and Business Performance at World’s Most Admired Companies
The Hay Group and FORTUNE magazine completed their 13th annual World’s Most Admired Company WMAC survey. They have done a wonderful job of offering elaboration and insight into top companies and employee engagement.
Here area key conclusions from the study:
The study analyzed the connection between employee engagement and a company’s business development and consumer relationship.
Ninety-four percent of respondents from the WMAC believe employee engagement has created a competitive advantage in the market place, compared to 82 percent at peer companies.
Additionally, 71 percent of respondents from the WMAC believe their company has been successful at linking employee engagement to customer satisfaction, compared to 58 percent at peer companies.
“Employee engagement is increasingly being recognized as a major driver of business performance, revealing important information about an organization’s health and future prospects,” says Mark Royal, a Senior Consultant with Hay Group’s Insight Practice.
“Companies on the World’s Most Admired list are not only better at engaging employees in a way that reduces internal frustration and fosters loyalty, they are also better at sharing those metrics with influential groups outside the organization, and translating their success into new business and an enhanced customer experience.”
Additional Engaging Insights:
- 94% of WMAC say employee engagement efforts reduced employee turnover, and 85% say employee engagement efforts reduced employee performance problems vs. 67% and 72% at peer companies respectively.
- 90% of the WMAC identified their company as very effective or effective at fostering high levels of employee engagement vs. 71% of their peers
- 73% of the WMAC say their ease of recruiting talent to fill key positions is much greater/greater than two years ago vs. 57% at peer companies
- 69% of the WMAC say employee loyalty to the organization is much greater/greater than two years ago vs. 49% of peer companies
- 86% of the WMAC say line managers have a very high/high involvement as owners of the organization’s engagement initiatives vs. 76% at peer companies
Making the List. FORTUNE determines the industry groupings by using the Fortune 1000 listing and the Global 500 listing. Companies in the 27 international industries must have approximately $10 billion in revenue and rank among the 15 largest by revenue within their industry. Companies in the predominantly US oriented industries must have approximately $2.0 billion in revenue and rank among the 10 largest in their respective industry.
How these companies got so admired:
- Ability to attract and retain talented people
- Quality of management
- Social responsibility to the community and the environment
- Quality of products or services
- Wise use of corporate assets
- Financial soundness
- Long-term investment value
- Effectiveness in doing business globally
The Top 50. Click on any of the names to go to FORTUNE’s profile of the company and why it was most admired (the first 25 state have a short section on why they were most admired companies):
|4||Johnson & Johnson|
|6||Procter & Gamble|
|8||Goldman Sachs Group|
|18||J.P. Morgan Chase|
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David Zinger, M.Ed., is an employee engagement writer, educator, speaker, coach, and consultant. He offers exceptional contributions on employee engagement for leaders, managers, and employees. David founded and moderates the 2150 member Employee Engagement Network. His website offers 1000 posts/articles relating to employee engagement and strength based leadership. David is involved in the application of Enterprise 2.0 approaches to engagement and the precursor, creating engaging approaches to communication, collaboration, and community within Enterprise 2.0.
Book David for education, speaking, and coaching on engagement today for 2010.
Email: email@example.com Phone 204 254 2130 Website: www.davidzinger.com