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Engagement Economics - Making the Link to Business Results
Minneapolis, MN | September 28, 2009
"Good managers know intuitively that engaged employees are good for business," said Fay Beauchine, president, Engagement & Events, Carlson Marketing. "Now the Enterprise Engagement Alliance has gathered an impressive body of research that squarely aligns employee engagement with business results."
In the new white paper, "The Economics of Engagement" (May 2009), independent research from a number of respected organizations confirm the positive economic impact of cultivating and retaining engaged employees. The compounded research and reports from Towers Perrin, The Harvard Business Review, Sirota Consulting, Human Capital Institute, The Great Place to Work Institute, Sears, IBM, Costco and others give companies ample scientific support of the financial impact - and shareholder return - of engaged vs. disengaged employees.
"As a company focused on building better relationships," said Carlson Marketing's Beauchine, "we're pleased to see the emphasis the report puts on 'trust.' Our own research calls out trust between management and employees, and employee peers as paramount in developing engaged employees."
Each of the pieces of research adds an element of understanding to paint an entire picture of the economics of engagement. From defining "engaged," "not engaged" and "disengaged" employees through sophisticated mathematics and logical conclusions, the white paper is a thorough compendium of insights and analysis.
With less than a third of U.S. employees engaged, according to both Gallup and Towers Perrin, the upside is significant. It's possible to reclaim some of the $350 billion lost annually to employee disengagement.
While there is no simple formula to achieve higher engagement, there are some fundamentals. The organization needs a solid culture and value system that supports engagement. Senior leaders have to drive the process. Managers must be selected and developed with employee engagement in mind. And employees must be made partners in the process.
The complete white paper with case studies and supporting evidence of engagement economics is available for downloading from Incentive Performance Center at http://www.incentivecentral.org/pdf/Final_Economics_of_Engagement.pdf.
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About Carlson Marketing Worldwide
Carlson Marketing is the world's leading relationship building company. As the largest independent agency in the U.S. and the 13th largest marketing company in the world, Carlson Marketing designs and delivers loyalty and engagement programs for some of the world's best known brands. Carlson Marketing's two global service offerings - Engagement & Events and Brand Loyalty - are supported by six core capabilities: Strategy & Brand Planning; Creative and Communications; Decision Sciences; Award Services; Technology Services and Customer Service. Carlson Marketing employs 2,500 marketing professionals in 45 cities across 16 countries.