Keeping employees engaged and motivated has gained importance in Covid and post-Covid era fostering a positive trend in the corporate sector, according to a report released by a global employee benefits provider, Advantage Club.
The report focuses on the impact of employee engagement and appreciation on the tenure of association of an employee with the organisation.
As per the report, 90 per cent of the companies are willing to drive employee engagement to keep employees motivated. Around 45 per cent of employees are likely to stay longer at a workplace with greater engagement and appreciation.
“In today’s competitive environment, employee engagement has emerged as a vital driver of business success,” the report said.
“High levels of engagement encourage employees to stay with the company, foster loyalty and boost organisational performance and stakeholder value,” it said.
Among actively disengaged workers in 2021, 74 per cent of the workforce is actively looking for new employment in search of better work culture.
“Organisations are now implementing new-age technologies to keep the employees engaged and motivated. Motivation and recognition go hand in hand and more recognition leads to higher motivation,” it added.
However, only 14 per cent of organisations provide managers with the necessary tools for rewards and recognition.
Top corporations that introduced employee engagement programs have seen employee satisfaction (ESAT) scores of 98 per cent, the report added. For the year 2021 - 2022, attrition has been reduced by 45 per cent among Advantage Club’s engaged employees.
Sourabh Deorah, Co-Founder & CEO, Advantage Club, said, “ We firmly believe that management needs to put out well-thought plans and strategies for employee engagement and retention - it may include benefits, perks, bonuses or even a timely recognition of high performance. This report highlights the significance of such programs for every business that aspires to grow exponentially in years to come.”