One of two crucial business success drivers is retaining your employees as a sustainable and reliable resource pool to ensure team harmony and that projects meet excellence standards. However, it doesn't come without establishing a corporate culture that favors fulfilling employee experiences and a sense of belonging - feeling part of a company's achievements. In this blog post, I will introduce you to ten employee engagement benchmarks for assessing the strength and success of principal employee engagement drivers within your company.
- The benchmark data source.
- How to measure (calculate) employee engagement.
- How or when to use the benchmark.
- Pitfalls (if any).
- How it integrates with benchmark scores on the list.
- Wherever possible - a benchmark value signifying good, neutral, or poor.
Why is excessive employee churn a no-no?
Launching a win-win employee engagement program
- Straightforward employee engagement survey results easy for SMBs and enterprises to measure and interpret - unlike many others requiring specialist input and convoluted brainiac involvement.
- Honest, frank, and non-penalizing employee feedback, powerful enough to provide accurate monitoring and penetrative insights with simplicity still in your corner.
- Calculating an average employee engagement score as the benchmark to separate performance above and below it.
- Finally, providing new perspectives by creating more focused and vivid employee engagement benchmark scores.
Our ten selected employee engagement benchmarks
1. Employee NPS (eNPS)
b. After the survey results are in, divide them into "Promoters" (the 9 & 10s), "Passives" or "Neutral" (the 7 & 8s), and "Detractors" (0 - 6) scores.
c. Calculate each category as a percentage of the total.
The Net Employee NPS = The Promoters % - Detractors %.
2. Customer NPS (cNPS)
- High NPS (c & e types) scores lead to “22% higher profitability and 21% higher productivity” - an indelible connection to client satisfaction.
- When employees love what they do remotely or in the office, it builds a positive brand reputation among clients.
- Employee dissatisfaction spreads, overlapping into the marketplace because disgruntled people complain to everybody.
- Customers avoid toxic business environments because they ultimately contaminate customer service - the foundation stone of successful strategy.
- When employees are indifferent to customer retention it impacts this category's benchmark scores, as it does the employee engagement benchmark data across the board.
3. Employee Absenteeism (EA)
- 1.8% is average, expected, and corporately healthy.
- 4%+ is a high absence rate.
4. Employee Retention Rate (ERR)
- Generally - 90% or higher, although this falls into the area of industry-specific benchmarks.
- High rates characterize government, finance, insurance, and education enterprises.
- Low rates connect to food, retail, and hospitality.
- It also varies by job and location in all of the above.
5. Employee Turnover Rate (ETR)
This is similar to ERR above - more or less the employees you failed to retain. So, why are we recommending it? Because ETR can give stakeholders a microscopic look at churn affecting one's employees, dividing it into those individuals exiting the company:
- From remote/in-office/hybrid arrangements.
- In response to an unexpected change in personal circumstances.
- Involuntarily (such as firing).
6. Employee Learning and Development
How do you measure employee learning and development? Here are some sound directives:
- Review all the education programs quarterly to assess what’s used by whom and what’s falling by the wayside.
- Evaluation of applied learning projects by reviewing participation, bounce rate, and completion.
- Assessing performance before and after course completion.
- Measure the impact of L&D programs on performance KPIs where you expect to see movement.
- Appraise percentage certifications where applicable.
- Scrutinize supervisor reports and feedback regarding employees passing through the L&D programs.
7. Glassdoor.com Rating (GDRs)
- 1.51 to 2.50 Employees = Very Dissatisfied (VD) .
- 4.01 to 5.00 = Very Satisfied (VS).
- The 2.51 to 3.50 rating (Okay) and 3.51 - 4.00 (Satisfied) fill the middle.
8. Vacation Days Used (VDU)
9. Employee Participation in Surveys
Without employee survey participation, many benchmarks in this article are unavailable, removing the ability to derive data-driven decisions. More crucially, progressive companies and fostering a feedback culture are inextricably connected, as are survey content (employee feedback) and innovative employee engagement initiatives.
10. Employee Satisfaction with Compensation
Expanding on the above, deploy state-of-the-art employee engagement tools to save time, drive engagement, accelerate performance, and inject accuracy into your strategies. For example, our Radiant AI® technology demonstrates extraordinary capabilities, such as:
- Free AI-generated performance benchmarks with every survey, even for custom inputs.
- Seamlessly identifying strengths and growth areas with actionable, easy-to-understand insights ready to share with your team.
- Instantly generating personalized resources based on employee feedback, survey data, and manager notes, enhancing engagement, retention, and performance.
But of course, we have highlighted a few critical metrics above that Macorva can influence. However, the same applies to every employee engagement activity involving survey technology and follow-up. So, contact us if you are ready to take employee satisfaction to the next level faster and more assuredly than you can imagine.