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Higher Salaries Wont Fix The Problem
April 03, 2007
Employee engagement "deficit" costs companies $1.8 million for every 1000 employees
WHISTLER, B.C. A new report from the Shepell·fgi Research Group finds most Canadian employees value being engaged in their job more than a pay raise. The report found that engagement factors had almost twice the impact on employee satisfaction than pay and benefits meaning more money wont move the productivity meter upwards.
"Total employee engagement wont happen one hundred per cent of the time," says Rod Phillips, President & CEO of Shepell·fgi. "We all like some parts our job more than others. But when overall engagement is low and when your staff prefer to not come into work or arent performing at their full capacity, it costs the organization money up to an average cost of $1.8 million for a company of a thousand employees."
Shepell·fgis new report, Employee Engagement & Health: An EAPs Role & Perspective, finds seven key indicators that can be empirically linked to a companys bottom line. They include trust in senior management, being asked for input, and a clear say in decisions that affect and impact their work.
"Given their importance, these indicators should be on every employers radar screens - but fewer than half of executives report their workplaces achieved healthy levels within these indicators," says Paula Allen, Vice-President, Health Solutions and the Shepell·fgi Research Group. "This suggests a significant engagement deficit in Canadian workplaces."
Support programs for employees can effectively help mitigate part of the problem and improve the engagement factor. Shepell·fgis research finds that companies with Employee Assistance Programs (EAP) achieve:
- lower levels of employee anxiety, dissatisfaction and turnover
- higher perceptions of fair compensation
- higher levels of growth and development opportunities
- higher levels of meaningful work.
"Weve found that EAP is a critical part of a healthy workplace strategy, and when it is used to address all aspects of employee health (physical, mental and social health), it educates employees on how to take care of themselves at work and at home," says Karen Seward, Senior Vice-President, Business Development and Marketing. "Employers and managers need to recognize that they also play an active role in their employees engagement at work and that this metric is directly linked to their companys bottom line."
For more information, please call:
Rosalind Robertson
Events and PR Manager,
Shepell·fgi
(416) 355-5491
About Shepell·fgi
Shepell·fgi, the leading provider of prevention-focused Employee Assistance Programs, offers an enhanced choice of services that address physical, mental and social health issues. The company services over six million employees and their families across Canada, the United States and internationally. Shepell·fgi helps organizations maintain healthy employees and healthy workplaces. www.shepellfgi.com
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