Over the last few years slowdown appears to have become an omnipotent word. Global economies and corporate houses are crying hoarse on deceleration in various aspects of growth.
To add to their woes, retention of employees who feel dissatisfied with their place of work, is becoming a challenge for companies, says a study by the Hay Group.
Employee engagement measures job satisfaction and involvement that directly impacts productivity.
The Hay Group report titled ‘Harnessing workforce potential: engagement and enablement’ says only two-thirds of global employees feel “engaged” at the workplace.
“Global engagement levels had been falling consistently since 2007, reaching just 65 per cent last year,” the report said.
However, while employee engagement is dipping in Europe and North America, in Asia it is on the rise at 63 per cent.
Further, at 68 per cent, the engagement level in India beats the global average. But, this may not be a cause to rejoice yet. Mr Mark Royal, senior principal at Hay Group, said, “Over the past few years we have seen employee engagement across the world decline or stagnate at 2008 levels at the very point when organisations around the world need to deliver better performance.”
Globally, as well as in India, more than one-third of the employees feel “unable to perform optimally” due to organisational barriers.
The direct result of this discontent is high attrition. The study reports that 58 per cent people in India plan to leave their current jobs by 2017, while one in three plan to make this move with two years.