45% Of Employees Likely Stay Longer At Workplace With Greater Engagement And Appreciation: Advantage Club

Advantage Club, a global employee benefits provider has recently released a report on the impact of employee engagement and appreciation on the tenure of association of an employee with the organisation. Covid and post-Covid era has also fostered a positive trend in the corporate sector and keeping employees engaged and motivated has become quintessential. Advantage club’s report highlights that 90% of the companies want to drive employee engagement to keep the employees motivated. As a result, about 45% employees are likely to stay longer at a workplace with greater engagement and appreciation.

In today's competitive environment, employee engagement has emerged as a vital driver of business success. According to the report, about 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.

Organizations are now implementing new-age technologies to keep the employees engaged and motivated. Motivation and recognition go hand in hand and more recognition leads to higher motivation. However, 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”.

Employee engagement is a $10 billion 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 (esat) scores of 98%. For the year 2021 - 2022, attrition has been reduced by 45% among Advantage Club's engaged employees.