An independent survey launched by HR, payroll and talent management solutions provider, MidlandHR, has identified the contributory factors to employee engagement – which 92% of respondents said is key to organisational performance. The study, Investigating Employee Engagement and Predictive Analytics, surveyed over 100 business leaders in UK public, private and charity sectors. Of the 19 aspects that could potentially affect employee engagement, the top three were said to be: relationship with team/peers (95%), relationship with line manager (94%) and recognition of achievement (93%). By comparison, the bottom three were: flexible working hours (82%), good pay (79%) and flexible benefits (62%).
Commenting on the research, MidlandHR’s research director, Dr Leslie Bowie, said: “Throwing money at a problem will not necessarily make it better. Contrary to popular belief, employees are not driven by money alone. So, to improve relationships, organisations should look at workforce planning methods such as implementing regular appraisals. As the survey highlights, these can improve employee engagement and have a significant and sustained impact on the retention of top performers and, therefore, the bottom line.”
Comment: All this is sound stuff. As we keep being told – but still don’t seem to believe – money isn’t everything (otherwise we’d all be bankers).