2018 GNYADA Membership Directory

HOW EMPLOYEE ENGAGEMENT DELIVERS ROI

Is your dealership the kind of place where employees can’t wait to come to work? Do your employees arrive early and stay late because they love their jobs? If you answer with a resounding ‘yes’, your employees are engaged. If you’re not sure, then they probably aren’t. Engagement is a tangible thing. It can be felt, seen and measured. Employee engagement is the mental and emotional connection that employees feel towards their place of work. It affects every part of your business, including revenue, customer experience, turnover, talent acquisition, brand awareness and more. Engagement is about culture, which starts at the top. Creating a workplace focused on employee engagement isn’t difficult, but it does take some time. As a business owner, whatever you decide to invest in engagement will deliver a healthy ROI in the following ways: 1) Attract and Retain Top Talent Employee turnover is expensive and turnover rates in dealerships are higher than average. To attract the best talent, you need to differentiate your organization. People want to work at a company where there is a positive culture, they can make a difference, they have opportunities for learning and career growth, and where they feel genuinely appreciated. 2) Better Employee Performance Engaged employees have a 37 percent lower absenteeism rate than industry averages. Employees who love their jobs are far more productive and take care of your customers. Another advantage of creating a workplace with engaged employees is that it helps you have those difficult conversations with employees who are underperforming. When you know you have dozens of people who are eager to come work for you, it’s easier to hold your current employees accountable. 3) Increases Customer Loyalty Customer experience is more about emotion than process. Make your customers feel good and they will keep coming back. 4) Increases Company Revenue and Profitability According to Quantum Workplace’s 2016 Employee Engagement Trends Report, companies with engaged employees realize: • 22 percent higher profitability

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• 26 percent greater stock price growth • 16 percent greater revenue growth If you want higher profits and long-term growth, developing a workplace culture that employees love is the most surefire way to make this happen.