Employee engagement is the biggest HR priority influencing organisations’ approaches to people strategy, according to a study by employee engagement platforms Reward Gateway and Edenred.
Their Employee engagement: an economic value study, which surveyed more than 300 organisations across Australia, the US, the UK, and the European Union, also found 48% of frontline organisations, which are typically in sectors where staff are constantly on their feet, said they consider employee engagement to be one of their top three priorities.
Employee retention was also found to be a big HR priority, with more than 40% of frontline organisations stating it was their second priority. A higher percentage of desk-based respondents said that compensation, benefits or total reward were a priority for them than those at frontline organisations.
The most common benefits offered in desk-based organisations were found to be health and wellbeing plans, enhanced maternity and paternity leave and discount offers. In comparison, the most common benefits offered in frontline organisations were discount offers, health and wellbeing plans and employee recognition programmes.
Organisations that offer food vouchers or healthy office snacks reported employee retention rates that are 11% higher than those that do not. Frontline organisations that offer food vouchers or healthy office snacks report an employee wellbeing score that is 11-13% higher than those that do not.
Commuter benefits were found to be more effective in desk-based organisations, boosting financial wellbeing by 7%.
Organisations that offer subsidised gym membership or classes had an employee wellbeing score that is 13% higher than those that do not, while desk-based organisations that offer wellbeing plans had an employee wellbeing score that is 13% higher than those that do not.
Nick Burns, chief executive officer at Reward Gateway, said:?“Prioritising and fostering high employee engagement is a strategic necessity for driving superior business results and long-term viability. Those that fail to nurture an engaged workforce place themselves at a critical disadvantage versus their more invested competitors. However, there is no one-size-fits-all approach to boosting engagement.”
