The benefits of employee engagement

A 2014 poll by Investors in People (IiP) found that 54% of employees feel that their employer does not care about their health and wellbeing, as long as they get the job done.  48% of those who state that their employer does not care about their wellbeing also say it has led to them feeling less motivated with a third saying they have considered looking for a new job as a result.   

Research* has shown that organisations with high levels of employee engagement are more efficient and effective, and that highly engaged employees:

• Are more customer focused, find they are more creative at work, and take less time off sick;
• Feel proud of the organisation they work for and are inspired to do their best and motivated to deliver the organisation’s objectives; and
• Have an increased sense of wellbeing.

When employees are engaged and thriving, they are more likely to be agile and resilient, with fewer health problems.  This means they should have fewer days off and be less likely to suffer from anxiety or depression. These factors add up to big savings for the bottom line in terms of staff costs, productivity and performance (Gallup 2013).

Perhaps in part driven by the many complex changes happening to pensions and other benefits at the moment, Higher Education (HE) institutions are increasingly looking at how to engage with their employees to ensure they take positive action in relation to their pension arrangements and wider benefits/reward package.

One area where this is going to be particularly relevant going forward is for higher paid staff building up significant defined contribution (DC) benefits within the Universities Superannuation Scheme (USS). How can you best ensure your staff understand their options at retirement?

Me2, our online member engagement tool, can help educate staff, and enable them to compare retirement options, covering both the defined benefit and defined contribution parts of the USS.  Me2 is also a very useful tool for members of your own pension schemes, particularly where members have both defined benefit (DB) and DC benefits, or a move from DB to DC pension provision is taking place.

*Wellbeing and Engagement (2014) – Engage for Success – demonstrating the links between high levels of employee engagement and levels of employee well-being