I have some good news and some bad news about employee engagement. The good news? Americans are much more (about 2.5 times) engaged with their work than worldwide employees. The bad news? Only 13% of worldwide workers are engaged. Even worse news? This disengagement is costing your financial institution a fortune.
Gallup found the difference in business results between engaged and disengaged workforces can be staggering: 21% in productivity, 22% in profitability, and 10% in customer metrics. They also found that "Actively Disengaged" employees cost U.S. companies between $450-550 billion annually. With $202 billion spent last year in salary and benefits at federally insured U.S. financial institutions, how much money is our industry wasting? Imagine what you would accomplish if 70% of your employees weren't disengaged?