Especially during the current COVID-19 pandemic, employees want to know that the companies they work for are responsible corporate citizens. Given that employees expect that their employer is doing the right thing for their employees, customers and the community, what role does corporate responsibility play in employee engagement?
Why is Employee Engagement Important?
In 2020, 34% of employees report being “very engaged” in their work. The biggest reason that employees are not engaged: 45% feel that their work is under-valued or their accomplishments are not recognized. This is why reward and recognition programs are so important to employee engagement efforts.
Businesses with a higher level of employee engagement enjoy better customer engagement, greater productivity, higher employee retention, fewer accidents and 21% higher profitability. Engaged workers also report better health outcomes.
Does Corporate Responsibility Matter?
Especially true of Millennials and younger, employees want to understand the impact of their employer on the world around them. There are many ways that companies can demonstrate leadership in their communities, including:
- Offering employees paid time to volunteer at a non-profit of their choice
- Company matches for charitable contributions
- Participating as a group in a corporate-sponsored charitable activity
- Donating funds to a cause or sponsoring charitable events
- Responsible environmental practices
- Ethical labor practices
In reward and recognition programs that are key components of an employee engagement strategy, there are additional ways to demonstrate and reinforce corporate responsibility:
- Incorporating a charitable theme into employee reward and recognition programs
- Offering reward options that may be donated to a charity
- Offering reward options that benefit or are produced by non-profit organization
- Offering and rewarding participation in training and professional development
- Incorporating “green” processes in the implementation of recognition programs
Is this the time to focus on Employee Engagement?
Yes. These are unprecedented, scary times. For employers of course, but especially for employees. The way in which employers navigate this storm will affect engagement now and in the future. As many key employees are working remotely, it’s more important than ever that they remain engaged. As the economy slowly reopens, retaining key talent will be critical. Keeping your employees engaged now will pay off in the future as we approach our “new normal”.
Our Incentive Professionals can help you develop or refine and adjust your reward and recognition programs to include corporate responsibility practices. To ensure that your employees stay engaged at this disruption, contact us!