News: 74% of employees are looking for companies with better work culture: Report

Employee Engagement

74% of employees are looking for companies with better work culture: Report

Employee engagement is a $10 Bn market that is expected to increase at a CAGR of 14.1% from 2021 to 2028. Top corporations that introduced employee engagement programs have seen employee satisfaction scores of 98%.
74% of employees are looking for companies with better work culture: Report

Global employee benefits provider Advantage Club has conducted a survey that reveals how the right set of employee engagement policies can have a positive impact on the tenure of an employee with a particular organisation. 

The study highlights that 90% of the companies want to drive employee engagement to keep the employees motivated. As a result, about 45% of employees are likely to stay longer at a workplace with greater engagement and appreciation.

In the environment of war over talent, employee engagement has acquired the driver’s seat in determining the fate of employee retention and hiring across all industries. The findings show that  21% of companies are more profitable and productive with a highly engaged workforce. High levels of engagement encourage employees to stay with the company, foster loyalty and boost organizational performance and stakeholder value. Among actively disengaged workers in 2021, 74% of the workforce is actively looking for new employment in search of better work culture.

Though new-age technologies are being adopted by the HRs and managers to keep the employees engaged, only 14% of organizations provide managers with the necessary tools for rewards and recognition.

Commenting on the release of the report, Sourabh Deorah, Co-Founder & CEO, Advantage Club said, “ Advantage club reports prove a direct relationship between the engagement and employee’s tenure with any organisation. 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”.

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Topics: Employee Engagement, #RedrawingEVP

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