How to Triple Profitability

Sustainable engagement segments across the global workforce by Towers Watson

Engaged employees are the key to increasing your company's coffers. In fact, companies with high engagement levels have profit margins almost three times larger than organizations with disengaged workers, found Towers Watson's Global Workforce Study, which surveyed 32,000 employees globally. Why? Because people work harder when they are inspired by what they are doing and know they are making a positive contribution to the organization.

Unfortunately, Canadian businesses large and small are failing to take advantage of this opportunity. A whopping two-thirds (67%) of Canadian workers are not fully engaged in their work and are frustrated by insufficient support from their organizations. When workers are not fully engaged, employers are more vulnerable to lower productivity and higher inefficiency, greater rates of absenteeism and turnover, and increased costs for chronic illnesses, says France Dufresne, leader of Towers Watson's talent and rewards practice in Montreal.

Read: Become An Engagement Superstar

"Without more attention to the fundamentals of sustainable engagement—including improving on-the-job support for employees and increasing efforts to deepen employees' sense of attachment to the organization—employers will have a harder time generating growth and returns," says Dufresne.

So how can business owners improve engagement?

Towers Watson advocates arming employees with the tools, resources and support they need to get work done efficiently and creating a workplace that supports their physical and emotional well-being. To accomplish that, companies should focus on these five drivers of sustainable engagement:

Top five drivers of sustainable engagement:

Priority areas of focus	Behaviours and actions that matter to employees
Leadership	• Is effective at growing the business •Shows sincere interest in employees' well-being •Behaves consistently with the organization's core values •Earns employees' trust and confidence
Stress, balance and workload	•Manageable stress levels at work •A healthy balance between work and personal life •Enough employees in the group to do the job right •Flexible work arrangements
Goals and objectives	•Employees understand: -The organization's business goals -Steps they need to take to reach those goals -How their job contributes to achieving goals
Supervisors	•Assign tasks suited to employees' skills •Act in ways consistent with their words •Coach employees to improve performance •Treat employees with respect
Organization's image	•Highly regarded by the general public •Displays honesty and integrity in business activities