Aside from the common workplace distractions, another killer of property management productivity is disengagement. What exactly is employee engagement? Is it happiness? Is it satisfaction?
While these things are important, the real definition of employee engagement is a commitment to the organization and to achieving its goals. Engaged employees don’t just come to work every day to get a paycheck. They actually care about the company and take pride in the work they do.
Is disengagement really that big of a deal? Consider the following statistics:
- Disengaged employees take an average of 6.19 sick days, compared to 2.69 days of their engaged colleagues. (Source: Workplace Research Foundation) This leads to a drop in productivity, but it can also negative impact employee morale, breeding further disengagement.
- Missed deadlines and general negative attitudes impact both internal employees as well as customers, which leads to increased complaints and a potential loss of business.
- Lack of productivity can cost an employer anywhere from $3,400 to $10,000 in salary for each disengaged employee. (Source: Gallup Research)
To the contrary, highly engaged employees bring much more than just a better attitude to the workplace. Being more engaged is directly linked to being more productive, since the employee is dialed into both the organization and its goals. As a result:
- Engaged employees offer a higher level of service, better quality and greater productivity. In fact, highly engaged employees are 38% more likely to have above-average productivity. (Source: Workplace Research Foundation)
- Better work results in higher levels of customer satisfaction, which leads to…
- Increased sales, particularly in terms of repeat business and word-of-mouth referrals
- A boost in sales generates more revenue which leads to…
- Better returns for shareholders
“Employees who report receiving recognition and praise within the last seven days show increased productivity and get higher scores from customers. They're just more engaged at work.” — Tom Rath
What can you do to foster employee engagement?
As with many things in business, productivity and engagement begin at the top. As a top-level manager, the tools, techniques and technologies that are designed to boost efficiency and productivity within your organization should be embraced and openly encouraged.
Management does not naturally correlate with leadership. It’s up to those in top-level positions to develop and hone their leadership skills in order to effectively inspire others. A true leader will implement strategies that will draw employees in and ignite a passion for the company’s vision and brand values. The more employees care about the business for which they work, the more productive they’ll want to be.
Find out what more you can do to boost the productivity of your property management business. Download a free copy of The Property Manager’s Guide to Maximizing Productivity.