That
is the key finding of a recent survey undertaken by intermediary Howden
Employee Benefits & Wellbeing (Howden).
The
research suggests than more than half (52%) of all the employers questioned
believed that employee engagement within their organisation had either improved
slightly (36%) or significantly (16%) during one of the most difficult business
environments in living memory. Fewer than 1 in 3 employers (29%) thought
that engagement had worsened during the same period.
Steve
Herbert, Head of Benefits Strategy at Howden says; “Employee Engagement
is often a very difficult area to measure accurately, yet is a pivotal factor
in maintaining and indeed improving output and productivity for employers in
all sectors. So it is particularly pleasing that engagement levels appear
to have improved over the last few months, and that can only be a positive for
UK employers as they face the dual challenges and uncertainties of a continuing
pandemic and a new trading relationship with the European Union.”
Howden
points out that those employers that have been able to protect jobs and/or
maintain salary levels throughout the crisis are likely to be seen in a far
more positive light by their employees. And the survey also revealed that
almost half of all employers questioned (47%) had seen no evidence of increased
financial worries amongst their workforce since the beginning of the
pandemic.
Herbert
however urged caution with this last finding, and continued; “The truth is
that the pandemic has been a story of financial winners and losers. Many
employees have effectively become enforced savers during the months of lockdown
and are now significantly better-off than before the crisis.
Yet
the flip-side of that issue is that there are now millions of employees who
have been existing on reduced salary for the best part of a year, and many more
whose wider household income has dropped owing to a reduced income from a
partner or family member. Employers are sometimes unaware of such
concerns, yet financial stress is potentially damaging to health and wellbeing,
relationships (both in and outside of work), and can also impact worker
productivity too.”
Howden
urges many more employers to support their workers with Financial Wellbeing
initiatives during and beyond the current crisis and points out that such
support is a low cost/high impact offering. From sign-posting government
services and promoting their employee assistance programme (EAP) to utilising
the tools and content from their pension provider and delivering webinars and
videos on top tips for coping with financial pressures, employers can reach
everyone, even those working at home or currently on furlough. Herbert
concluded;
“It is
really great news that employee engagement levels are remaining resilient
during this unprecedented crisis, but employers need to stay alert to signs of
financial stress amongst their workers. So we would strongly encourage
many more organisations to both regularly measure their employee engagement
levels and promote Financial Wellbeing and Employee Benefits offerings to
provide practical support as and when required.
For more information please visit Howden
Employee Benefits & Wellbeing