Welcome to Hive chat, the blog for people who care about internal communications and employee engagement.
According to the CiB, the United Kingdom would be up to £50 billion a year better off if organisations made a greater effort to communicate with their employees.
Years of economic buoyancy and a ceaseless drive towards greater competitiveness have created a business climate where effective good internal communication is no longer a luxury, but an essential.
That was one of the key findings after Headlines Corporate News worked with University of Oxford psychologist Laura Godwin to create a definitive study of the role of internal communications.
Yet the research found that the majority of UK organisations are being held back by a failure to engage their staff properly.
The results conclude that a lack of engagement results in:
> higher staff turnover,
> higher absence levels,
> poorer performance,
> a breakdown in customer relationships and satisfaction,
> significant costs
> missed revenue opportunities.
Among the key findings:
85% of UK businesses experienced difficulty in recruiting new staff in 2004
77% of employers find it difficult to retain staff
The average cost of replacing a member of staff is £4,800
83% have such little commitment to their jobs they are ‘actively disengaged’.
The average UK employee misses 9.1 working days per year through unplanned absence
Disengaged employees cost the UK between £39 billion and £48 billion per year.
The research identified a dramatic shift in corporate culture, driven by more than a decade of consistently improving economic prosperity.
It found that loyal and engaged employees are now a prerequisite for success - at a time when loyalty and engagement are in serious deficit.
The exciting news is that engaging your employees is an inexpensive and reletively straightforward option. It needs just three elements:
1. A bit of time
2. A little bit of effort
3. Senior backing and support
And that is it! Speak to Hive Communications and we can provide the top two....you would need to provide the third. These are exciting times, make them exciting for your teams too!
