Business is Personal: Study Finds Passion and Profits Do Mix
Philadelphia, May 11, 2007 – Employees who are passionate about their companies are the best performers, regardless of industry, tenure or gender, according to a recent study by PeopleMetrics (www.people-metrics.com) into Employee Engagement among 5,095 workers across the United States.
"There's no doubt---passion and profits mix," noted Kate Feather PeopleMetrics Executive Vice President, who led the study.
Fortune 500 companies in the lowest quartile in company profitability had 50% fewer engaged employees compared to those in the top quartile, according to the PeopleMetrics study. In terms of individual performance, PeopleMetrics found high performing employees were twice as engaged as their low performing counterparts.
Pay, benefits and resources to do one's job are necessary for a certain level of employee engagement, "but these are not sufficient to drive the highest levels of employee engagement and performance," according to Feather. "We found that creating emotional connections to employees is what truly matters because this is where organizations can dramatically boost employee productivity and business outcomes."
Building an emotional bond with employees, Feather says, requires organizations to create a "sense of meaning and purpose" among employees by connecting them to the "higher vision and purpose" of the organization. Building trust and confidence through regular dialogue with managers and senior leadership is important, noted Feather, as is building connections within the organization by celebrating successes, having fun and showing individual appreciation.
Many CEOs and corporate leaders are mentioning 'love' and 'passion' as the secret ingredient to success. Campbell Soup, Apple Computer, Starbucks and dozens of other leading companies understand the importance of making an emotional connection to employees to drive business outcomes.
"The concept of feeling love or passion for one's company is gaining ground because a passionately engaged workforce is a becoming an important differentiator in the marketplace," noted Feather.
In the summer of 2007, PeopleMetrics will conduct a comprehensive customer engagement study.
About PeopleMetrics:
PeopleMetrics is a leading research firm that helps organizations engage their customers and employees. We have remarkable people, proven methodologies, robust benchmarks and world-class technology. PeopleMetrics Rx is a division dedicated exclusively to the market research needs of the pharmaceutical industry and is a pioneer in developing the concept of Physician Engagement. We serve some of the most trusted brands and respected companies in the world, including AstraZeneca, Christie's, Coca-Cola, Comcast, Genzyme, HSBC, McDonald's, Morgan Stanley, Microsoft, Novartis, and Wyeth.
For more information send an e-mail to info@people-metrics.com or call 215.979.8030.
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