Getting Engaged with Engagement: The Value of Investing in Employment Retention Strategies

When employees spend more waking hours with their colleagues than they do their own families, it’s no surprise that successful employee engagement continues to be a high priority and is quickly becoming one of the most important indicators in gauging work satisfaction. Right now, employees are looking for more than just a 9-to-5 job. They want to feel deeply connected to their work, excited about the company they work for and committed to their fellow colleagues. In fact, according to a study of companies with over 500 employees, researchers found that 71% of managers felt that employee engagement was one of the most important factors in a company’s overall success.

The importance of employee engagement can’t be overstated. Employee engagement strategies have been proven to reduce staff turnover, improve productivity and efficiency, retain customers at a higher rate and increase profitability. More importantly, engaged employees are happier – both at work and in their personal lives. And, when employees are engaged, it not only infuses everything they do with purpose, energy and enthusiasm, but leads to an overall increase in quality and performance.

Now more than ever, today’s employees are seeking a deeper connection to their colleagues, their teams, and the companies they work for. They want to know there is a shared value system and feel a true, authentic connection. If employees feel they are connected to their workplace, they are more likely to feel a connection to their customers and other important networks and serve as brand ambassadors. They’ll also be more likely to work smarter and longer, creating greater value and contributing to the company’s goals.

If you’re in need of some data to back up these claims, here is a comprehensive list of the best employee engagement statistics you should know:

Why Employee Engagement Matters

  • Companies with engaged employees outperform those without by 202% (Source: Gallup)
  • Highly engaged business units achieve a 10% increase in customer ratings and a 20% increase in sales (Source: Gallup)
  • 16% of employees said they felt “connected and engaged” by employers (Source: EmployeeChannel)
  • Meaningful work is the single largest contributor to a positive employee experience (27%) (Source: Globoforce)
  • 98% of HR professionals and 92% of employees surveyed said empathetic employers drive retention (Source: Businessolver)
  • 92% of employees say showing empathy is an important way to advance employee retention (Source: Businessolver)
  • 80% of employees would work more hours and 60% would take a pay cut to work for a more empathetic employer (Source: Businessolver)
  • 53% of HR professionals say employee engagement rises when onboarding is improved (Source: SilkRoad)

Why You Can’t Afford to Ignore Employee Engagement

  • $11 Billion is lost annually due to employee turnover (Source: Bureau of National Affairs)
  • 75% of the causes of employee turnover are preventable (Source: HR Dive)
  • 37% of engaged employees are looking for jobs or watching for opportunities, as are 56% of not engaged and 73% of actively disengaged employees (Source: Gallup)
  • 27% of employees change jobs each year, 17% are actively job-hunting and 46% are passively looking (Source: ADP)
  • 34% of employees say they plan to leave their current role in the next 12 months (Source: Mercer)
  • 90% of executives said keeping new hires is an issue in their organizations (Source: Korn Ferry)
  • 47% of people actively looking for new positions say company culture is the main reason (Source: Hays)
  • 76% of employees who do not feel valued are looking for other job opportunities (Source: Lifeworks)

Companies want engaged employees to not only increase happiness in the workplace, internal engagement and productivity, but to also influence their overall brand exposure. These statistics demonstrate how engaged employees are more productive and more likely to stay with your company in the long run.

So, how can you put these these statistics to good use to explore areas within your own company where engagement can improve and positively impact your business?  At Roper Insurance, we can help.  Our highly-skilled benefits team members can help you better engage employees with ideas on wellness programs, weight loss incentives, fitness reimbursements, smoking cessation programs, extensive life insurance policy options and free member benefits from insurance providers, sure to appeal to all employees. Here are just a few options that we can help you with to keep your employees engaged in the workplace:

Fitness Tracking and Incentive Apps – Getting healthier is easier – and lots more fun – with apps like the Go365TM. Participants can customize their own health and wellness journeys through a best-in-class digital experience. Unlock activities, find inspiration, earn points for doing things like getting your flu shot and redeem them for e-gift cards to places like Amazon and Target. What’s even more fun is that your whole family can get involved and you can even challenge co-workers to stay motivated and earn more points.

Gym Membership Reimbursements and Weight Watchers Discounts– Support your staff’s health and weight loss goals by offering discounts on weight loss programs and invest in gym reimbursement initiatives. After all, having healthy employees means fewer sick days!

On-Demand Healthcare Services: It’s stressful enough dealing with injuries and illnesses but on-demand healthcare services allow employees to immediately contact and receive personalized health care services in their own homes. Additional benefits include updates to your doctor, calling in prescriptions and contacting your insurance so you can focus on feeling better, faster.

Bonus Benefits Programs– Many health insurance providers offer additional incentives to members as part of their policies, including NurseLine services, mobile apps that track health and wellness initiatives, cost estimator tools, 24-hour access to care providers and community resources, webinars, telephone access to health and wellness coaches, travel assistance and live chats with doctors and other healthcare professionals from the comfort of your own home.

For more information on these services and how we can help you with your employee engagement initiatives, contact us today at 303-721-1145 to be connected with one of our benefits team members. Investing in your employees today will ensure a healthier and brighter future for your business!