You're Ready to Boost Employee Engagement & Become an Employer of Choice
14 March 2023
An enviable employee value proposition, high levels of employee engagement and an excellent record of employee retention are all signs that you’re on your way to becoming an employer of choice. Recruiting new skills is lengthy and expensive – a considerable financial risk. Retaining your people and quickly attracting top talent are drivers for a thriving business. Read on to discover how to become an employer of choice.
95% of employees are considering leaving their jobs (Monster).
Employee engagement + employee retention go hand-in-hand.
Why hunt for talent when the talent seeks you out? Employee retention is essential to reducing financial risk, especially with the cost of recruiting new skills thought to be over £30,000 per recruit.
Reap the benefits of high levels of employee engagement and employee retention by creating a culture and employee value proposition that meets employees’ needs and aspirations.
High employee engagement = enhanced motivation and productivity
What is an employer of choice?
Being an employer of choice means your company culture, leadership style, employee value proposition and employee engagement initiatives are desirable to potential candidates and current employees.
Your employee value proposition and employer brand are essential for strong employee retention rates. Discover how to harness their power here.
Competitive EVP = enviable employee retention rates
Your employee value proposition is more than what you offer employees financially; it includes learning and development opportunities and flexible working. It’s a holistic collection of what employees can expect to receive and experience when working with you and enhances employee engagement.
A Glassdoor employee survey reveals what today’s talent is seeking and the steps you can take to improve employee retention:
- 37% say company culture is critical for employee retention
- 35% prioritise their organisation’s reputation
- 33% consider how you conduct interviews
- 25% care about their companies’ missions and values
- 25% value the skills of senior leadership.
Build these elements into your employee value proposition to enhance employee engagement, talent acquisition, and employee retention.
Boost employee engagement & become an employer of choice… here's how!
We've pulled together the elements needed to set you on your path to becoming an employer of choice.
Flexibility... an expectation, not an employee benefit.
54% of workers worldwide would consider quitting their jobs if their employer didn't champion flexible working (EY Global). Flexibility comes in many forms, including hybrid working, a four-day working week or flexible hours.
Increased flexibility = higher levels of employee retention
Flexible working makes your business more accessible, diverse, and inclusive, inviting talent from all walks of life.
Work-life balance is a must-have...
30% of workers said they’d give up part of their pay for a better work-life balance, with working parents willing to take a 5% pay cut (Joblist).
Add an Annual Leave Purchase scheme to your offering to incorporate more opportunities for balance into your employee value proposition.
Consistently re-evaluate your employee benefits package
Your office environment matters, but in a world where hybrid working is on the rise, does a ping-pong table in a communal area pack the punch it once did?
The cost-of-living crisis calls for employee benefits that significantly improve employees’ lives, enhancing financial, mental, and physical health.
Create a robust employee value proposition and increase employee retention by creating a holistic wellbeing offering.
Financial Wellbeing
The cost-of-living crisis has shone a light on the importance of financial resilience.
Less financial anxiety = enhanced employee engagementSalary-stretching employee benefits make everyday living more affordable for employees, bringing them more joy and some breathing space to set money aside for the future.
When your employee value proposition includes our Employee Discounts Platform, our Virtual Pluxee Card and SmartPay, you’re taking steps to show you’re offering much-needed financial support.
Read more on each solution here:
- SmartPay… the cost-neutral employee benefit you need in 2024
- Essential savings for your employees, whenever, wherever!
- The Pluxee Cashback Card... Reward, support, retain!
Help your people afford more of what matters to boost employee retention.
Physical Wellbeing
Our Cycle to Work scheme helps employees save money, and your business saves, too! You'll save on tax and NI contributions for every employee who purchases a new bike via your scheme.
Discover more:
Exercise is personal, and choice matters, so consider Gym and Fitness discounts that provide access to over 3,000 gyms, bootcamps and digital fitness providers.
Mental Wellbeing
Mental ill health causes 39% of short-term absences (up to four weeks (CIPD), so it pays to prioritise employee mental wellbeing.
Explore how to create a culture of wellbeing with effective wellbeing support in our blog -Improving mental health in the workplace… affordable, impactful, essential!
Employee mental health must be a top priority in becoming an employer of choice and increasing employee retention.
55% of workers say they would seek a new job if their employer didn't support their mental wellbeing, increasing to 78% amongst 18-24-year-olds (Benenden Health).
Invest in your employees' future
Another tool in your employee value proposition strategy is ensuring you create career development and continuous learning opportunities.
Looking beyond courses and promotions…
Mentoring programmes and lunch and learn sessions are fantastic ways to upskill your employees. Apprenticeships are also an excellent opportunity to increase employee engagement and nurture leadership skills within your workforce.
You’re ready to become an employer of choice! Get in touch today to boost employee retention and thrive.
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