Keeping Employees Engaged in a Downturn

As the economic downturn continues, it’s critical that employees remain engaged in order to keep morale and productivity high, according to a report from Watson Wyatt Worldwide.

Watson Wyatt’s WorkCanada Report found that when employees are highly engaged, their companies have a lower risk of turnover and are more likely to attract top talent. Highly engaged employees are almost 80% more likely to be top performers and also miss 20% fewer days of work. And, about three-quarters of them exceed or far exceed expectations in their most recent performance reviews. These workers also tend to be more resilient to, and supportive of, organizational changes.

“Keeping workers engaged and productive is always a daunting challenge. However, it’s even more crucial in this type of economic environment when organizations are striving to do more with less and employees are paying closer attention,” said Debra Horsfield, Toronto practice leader for organization effectiveness with Watson Wyatt. “There is no one-size-fits-all approach to employee engagement. Segmenting the workforce and tailoring communication, performance management programs and other resources to specific employee groups can be the most effective way to engage workers.”

The report also suggests specific actions, such as exhibiting strong leadership and clear direction and implementing and communicating a system of rewards, that employers can take to increase engagement and productivity.

“Improving employee engagement will help drive business results in the long run by improving employee commitment to corporate goals and generating exceptional individual performance and productivity,” said Horsfield.

The WorkCanada Report surveyed more than 2,300 full-time Canadian workers in June 2008.

This story was originally published by Canadian Insurance Top Broker.