Employee engagement is a key concern for organisations of all size. Small business owners in particular will find that, given the compact nature of their company, actively engaging their workers can be the key to holding onto them and engaging them to grow with the company.
And encouraging an employee to stay with a company is not all about money, as recent surveys have indicated. A recent poll by CareerBuilder, for instance, found that around half (51 per cent) of workers said they would continue working even if they won the lottery and were no longer financially dependent on a job. Almost a third (30 per cent) of all respondents said they would stay at their current job.
So if pay isn't at the top of workers' priorities, what are the factors that would encourage them to stay at their job?
The most popular reason given by respondents was that they would simply be bored if they weren't working. This was closely followed by more than three-quarters (76 per cent) of workers saying their work gives them "a sense of purpose and accomplishment".
In addition, almost a quarter (23 per cent) said they would miss their co-workers.
It is clearly evident from the CareerBuilder survey - and other studies such Aon Hewitt's Trends in Global Employee Engagement report - that employee engagement is a multi-faceted concept. Aon Hewitt's study outlines six key drivers of engagement, many of which align with CareerBuilder's findings.
For example, 'work' is one of them - covering factors such as the actual activities required by the job and the sense of accomplishment they provide. 'People' is another, highlighting the role a range of stakeholders, including managers and colleagues, can have on engagement.
To truly engage your employees, no matter the size of your workforce, it's important to go beyond pay and look at the bigger picture.
If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].