Towers Perrin Global Workforce Study (2008) looked at 50 global companies over a one-year period, correlating their employee engagement levels with financial results. They found that companies with high employee engagement had a 19% increase in operating income and almost a 28% growth in earnings per share. Conversely, companies with low levels of engagement saw operating income drop more than 32% and earnings per share decline over 11%.  

In a similar study over a longer time horizon - involving 40 global companies over three years - they found a spread of more than 5% in operating margin and more than 3% in net profit margin between the companies with high employee engagement and those with low engagement