Diversity, Equity, & Inclusion
Boost employee engagement in 2023 & beyond with Sodexo Engage
Boost Engagement to Boost Success: How the Top Employers of 2022 are Driving Employee Engagement
The list is out!
In truth, there are multiple lists highlighting the top employers of 2022. We’ve found the common strategies shared by the businesses being named and will talk you through the steps they’re taking to boost employee engagement and performance.
The Opportunity to Progress
There’s no denying the importance of creating career development opportunities within your business. In a survey that included Baby Boomers, Generation X, and Millennials, 70% of employees said that training and development opportunities were a factor in their decision to leave or accept a role.
Communicating development opportunities will speed up your recruitment process. Talent acquisition is expensive, and you're more likely to attract the best people by mapping out how potential employees and new recruits could grow with the business.
Once you’ve attracted the right people, you need to retain them. There may be times when the opportunity to apply for a promotion could be limited, but that shouldn’t hinder employee development.
Ensure your employees feel valued by providing mentorship opportunities and external or internal professional training. Upskilling your employees benefits the business and individual, regardless of whether there are immediate progression opportunities.
Whilst training requires financial investment. It pays to nurture your talent because development opportunities are crucial to employee retention, boosting morale, engagement, and performance.
Diversity, Equity & Inclusion
A strong focus on Diversity, Equity, and Inclusion (DE&I) features heavily among the businesses finding their way onto the lists. All communicate their commitment to creating a diverse workforce and an ethos of equality.
Diversity is a driver of innovation, and according to the Harvard Business Review, companies that are diverse in leadership are 70% more likely to capture a new market.
Forbes claims that 'belonging' links DE&I to engagement. DE&I initiatives are fundamentally about making people feel included, and when you feel recognised and a valued part of a team, it boosts engagement and morale.
Read our previous blogs on How to Get Diversity and Inclusion Training Right and How to Improve Diversity and Inclusion in the Workplace to get your DE&I initiatives off the ground and embedded in your business.
There’s much information on the positive impact that prioritising mental, physical, and financial wellbeing will have on employee retention, engagement, and performance.
Organisations making the top employer lists all focus on a holistic, end-to-end approach to wellbeing, encompassing all three pillars: mental, physical, and financial wellbeing, with some employers adding a fourth pillar: social wellbeing.
The Evolution of Employee Wellbeing
Employee wellbeing is forever evolving. In 1810, Robert Marcus Owen proposed a 10-hour workday. Seven years later, in 1817, he petitioned for it to be reduced to eight. Fast forward to 2022, and not much has changed regarding working hours, but working practices certainly have, especially regarding health and wellbeing legislation and Equality Acts.
Flexibility in working hours is fundamental to boosting employee wellbeing and engagement, and the Government has recently announced that the right to request flexible working is available to employees from the moment they join a business.
We continue to ask more of the employer, and whilst there is a small pocket of resistance - one in 10 UK employers do not support employee wellbeing – most businesses have got the message.
Employee wellbeing, in all its elements, will never be static. Expectations will grow as the world changes, and new generations enter the workplace.
Like the organisations featured in the top employer lists of 2022, it pays to set the tone in your business now so that you’re ready for Generation Z – your future workforce. 62% of Gen Z will prioritise a work-life balance and, on average, only envision staying with a company for two years.
The total cost of onboarding a new employee can set your business back approx. £25,000 each time, which is why forward-thinking companies are implementing wellbeing initiatives that boost employee retention rates.
Reward & Recognition
84% of HR leaders agree that embedding an employee reward and recognition platform and strategy boosts employee engagement and retention rates.
To make it onto the top employers lists in 2023, you’ll need a robust, diverse, and inclusive reward and recognition strategy, just like we’ve seen from those who made the cut in 2022.
At Sodexo Engage, we regularly discuss the importance of reward and recognition in boosting employee performance and morale. We base our insights on human nature and research since the concept is backed up by science.
Psychologists call it Reward Power, with the American Psychological Association offering this definition:
“A capacity to influence others based on the ability or the promise to deliver desired rewards. The strength of reward power increases with (a) the value of the rewards and (b) the extent to which the target of influence is dependent on the influencer for the rewards.”
Find out more about reward and recognition trends here.
Boost Employee Engagement in 2023 & Beyond with Sodexo Engage
Meaningful and impactful are words you’ll find Sodexo using a lot because, as supported by the APA, the rewards must matter to your employees for them to be effective.
In a recent blog post – How your Christmas Rewards can make a real difference – we gave tips on how to maximise the impact of your reward and recognition strategy throughout the year.
Supporting all elements of employee wellbeing puts a business in the best position to boost employee engagement, and below are a few things you could consider implementing in 2023.
- A corporate gym membership: enhance physical health and wellbeing with up to 25% off membership fees
- Employee Cashback Cards: boost employee financial wellbeing by giving your people a chance to earn up to 15% cashback with their favourite retailers
- An Employee Assistance Programme: support your employees' mental health and wellbeing by giving them 24/7 access to BCAP-accredited counsellors.
Speak to an employee engagement expert today to make the changes your business needs to boost employee engagement and become an employer of choice in 2023 and beyond.