In 2003, an IES consultation of HR professionals from 46 organisations found they perceived engaged employees to be individuals who show a belief in the organisation, have a desire to work to make things better, have an understanding of the business context and the ‘bigger picture’, respect and help their colleagues, have a willingness to ‘go the extra mile’ and keep up-to-date with developments in the field (Robinson et al., 2004). As a result of this study, IES defined and developed a comprehensive definition of engagement :

A positive attitude held by the employee towards the organisation and its values. An engaged employee is aware of business context and works with colleagues to improve performance within the job for the benefit of the organisation. The organisation must work to develop and nurture engagement which requires a two-way relationship between employer and employee’ (Robinson et al., 2004, p.4).

Report published by Lloyd Morgan along with the Corporate Leadership Council (2004) states that by increasing employees’ engagement levels, organizations can expect an increase in performance of up to 20 percentile points and an 87% reduction in employees’ probability of departure. The highly engaged outperform the average by two deciles and are dramatically less likely to leave the organization.
Fig1Role Of Employee Engagement_decrypted
Figure 1: Relationship between Employee Engagement and Performance and Retention (Source: Corporate Leadership Council, 2004)

Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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