For many years organisations have struggled to achieve the best engagement from their workforce through a plethora of schemes. In the past decade, flexible working, cycle to work schemes, season loan tickets, and many more initiatives have been implemented in many companies in order to engage and satisfy workforces. Research from Perkbox and TalentPool has discovered the most effective ways to fully engage a workforce.
Through their research they found that employers that using team based incentives are more likely to boost morale, strengthen relationships, as well as attract the top talent in the market.
“There’s clearly a trend emerging. The next generation of our workforce are seeing their colleagues as more than just that – colleagues are building much stronger bonds between each other than in the past. As employers, creating this genuine sense of trust, companionship and collaboration requires investment in terms of time and budget for activities such as team bonding exercises. The truth is, it pays off over time and is perhaps one of the strongest and most valuable retention tools you can ever allow your employees to develop.” said Chieu Cao, Co-founder of Perkbox, commenting on these findings.
Through this research they further found that schemes that are most common, such as cycle to work schemes were not made as a top attraction for employers anymore, with Cycle to work’ schemes only mentioned being mentioned in 7% of job descriptions, followed by season ticket loans being mentioned in 4%.
It is clear to see now that there is a shift in what employers think employees prefer at work, and by businesses constantly tweaking the packages that they offer to their workforce, this can only remain as a significant tool in employers succeeding.
In today’s age employee experience and engagement is crucial to companies developing their talent. The rise in HR technology can aid this cause, with many companies embarking on an age of digital transformation, internal communications has become a critical aspect of ensuring their workforce are informed and educated enough to meet objective. “Improved employee communications can also be a catalyst for digital transformation, customer relationships, competitiveness and employee-led innovation.” state Gartner.
Although research by Capita have found that 94% of business leaders are looking to make employee engagement a top priority, only 29% of participants of their survey were satisfied with their current level on engagement, with this data being brought to light it is clear that there is still work to be done, and digitalisation can aid this cause
“Digital has the potential to deliver a faster, more seamless and personalised experience in benefits which gives employees a greater sense of control and choice and the opportunity to take a more proactive approach. But organisations need to take a strategic approach to digital adoption, rather than pursuing siloed, one-off implementations which invariably lead to failure and frustration. Digital should never be an end in itself, it is simply a means to enhance the employee experience. Benefits leaders need to ensure they have the skills and partners in place to get things right first time and ensure new technology integrates with, and supports, the organisation’s overall digital transformation vision.” said Gareth Pickles, Managing Director of Capita Pensions and Benefits.
With many businesses accommodating for talent from different ages and backgrounds, a challenge arises for business leaders and HR professionals alike to ensure that their whole workforce are being treated the same.
“There is an increasing competition for talent across companies of all shapes and sizes. Employers are offering more than just traditional benefits to stand out in the market today; not only to attract but also to retain the best talent. And there is definitely a stronger focus now more than ever before on a collaborative company culture. Millennials are looking for more than just a well paid job – they are looking for balance, development and purpose in their career. For this, the right working environment is key.” concluded Andrew Lavelle, Co-founder of TalentPool.