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5 © Virgin Pulse 2016. All rights reserved.
STATE OF THE INDUSTRY: WELLBEING, CULTURE AND ENGAGEMENT
January 2017
6
TODAY’S AGENDA
Chris Boyce CEO, Virgin Pulse
Sarah Kimmel VP, Research Workforce Magazine
MEET YOUR VIRGIN PULSE TEAM
• Wellbeing is a priority and drives engagement
• Engagement roadblocks and how strategic organizations overcome them for business success
• Top HR priorities in 2017
7 7
Virgin Pulse partnered with Workforce to conduct the 2017 Workforce State of the Industry: Employee Engagement Survey from Oct 20 – Nov 4, 2016. N=620
• 42% at or above director level
• 42% from organizations with more than 1,000 employees
• Wide range of industries
• Both US Based (64%) and Multi-national and Global organizations (37%)
RESEARCH METHODOLOGY
8
Why Prioritize Wellbeing? HELPING EMPLOYEES BUILD DAILY HABITS CENTERED AROUND HEALTHY BEHAVIORS IS THE KEY TO DRIVING SUCCESS AT THE INDIVIDUAL AND ORGANIZATIONAL LEVEL
9
EMPLOYERS THAT RECOGNIZE WELLBEING IS INDIVIDUAL REALIZE GREATER:
• PROGRAM PARTICIPATION • EMPLOYEE ENGAGEMENT • INDIVIDUAL RESULTS • BUSINESS OUTCOMES
10 10
STRONG AGREEMENT THAT WELLBEING IMPACTS ENGAGEMENT AND BUSINESS OUTCOMES
97% 87%
Agree wellbeing influences employee
engagement
78%
Currently invest or plan to invest in employee
wellbeing as part of their engagement strategy
Organizations state wellbeing is key component of business
strategy
11
Wellbeing is at the core of workplace cultures THE FOCUS ON EMPLOYEE WELLBEING IS SHIFTING FROM OPTIONAL, NICE-TO-HAVE PROGRAMS TO MANDATORY, MISSION-CRITICAL BUSINESS INVESTMENTS
12 12
CULTURE: A PRIMARY MOTIVATION AND PRIORITY IN 2017
95% 79%
Believe culture is important in driving business outcomes
90%
Have or will have specific initiatives in place to address
workplace culture
Take cultural fit into consideration to some degree
during hiring process
13
• 80% of respondents reported that their organization’s HR policies and hiring practices reflect their mission and values statements, putting values first from day one.
• Globally, organizations are prioritizing furthering their
mission and values as top wellbeing objectives
• Yet, almost a third of respondents say their organization’s mission and values statements have not been updated in the past five years
GROWING EMPHASIS ON MISSION AND VALUES
14
TOP AREAS OF WELLBEING WITH GREATEST IMPACT ON ENGAGEMENT:
90%
91%
92%
93%
95%
97%
98%
0% 20% 40% 60% 80% 100%
Personal relationships
Sleep
Work productivity
Physical health
Financial concerns
Personal stress
Work stress
15
STRESS AND YOUR BOTTOM LINE:
• Work-related stress costs U.S. companies $30 billion a year in lost productivity1
• One in five workers report feeling extremely stressed, mostly due to work or finances2
• Extremely stressed employees are twice as likely to report poor overall health, leading to increased absenteeism and decreased productivity3
1 Pazzanese, C. “The high price of workplace stress.” Harvard Gazette, 2016. • 2 Lockton Retirement Services, “Finding the Links Between Retirement.” Stress
and Health, 2016. • 3 The well-being pulse survey. Deloitte, 2015.
16
CULTURE IS ALSO A TOP ROADBLOCK TO GREATER ENGAGEMENT 48% OF ORGANIZATIONS SAY RESISTANCE TO CHANGE HINDERS GREATER ENGAGEMENT AND OUTCOMES
17 17
ADDITIONAL ROADBLOCKS TO INCREASING ENGAGEMENT
47% 40%
Budget
30%
Employee adoption/participation
Communication
18
CONSENSUS: ENGAGEMENT IS A PRIORITY BUT DISPARITY IN TACTICS AND RESULTS
• 88% of respondents prioritize increasing employee engagement
• Currently, one out of six companies do not measure employee engagement at all
• Top roadblock/challenge yielded just 48% of responses - meaning organizations continue to face various barriers toward achieving organizational buy-in
• Points to incongruent approaches that do not effectively move the needle
19
STRATEGIC ENGAGEMENT MODEL 17%
24%
16%
16%
19%
10%
How developed are your organization’s employee engagement programs?
Not started
Initial stages
Established goals and mapped to strategy/mission Basic programs in place
Targeted programs in place but not holistic Integrated programs in place
Mature organizations, categorized as strategic organizations, with programs in place to meet specific needs, such as employee wellbeing, or an integrated approach to wellbeing and engagement to drive business results, are the top 29% of respondents.
20 20
ROADBLOCKS BY MATURITY Strategic organizations are less likely to face roadblocks compared to less mature organizations in key areas, such as:
• Budget
• Cultural resistance
• Leadership buy-in
17%
38%
48%
41%
39%
23%
34%
41%
51%
58%
0% 10% 20% 30% 40% 50% 60% 70%
Leadership buy-in
HR resources
Employee adaption/participation
Organizational culture
Budget
Challenges/Roadblocks to increasing employee engagement (by maturity)
Beginners Strategic
-29% Strategic organizations are 29% less likely to face budgeting roadblocks for engagement programs
21 21
MEASUREMENT
Strategic organizations are more likely to measure through multiple channels:
• Annual engagement surveys
• Retention/attrition data
• Annual reviews
• Employee productivity data
19%
42%
45%
42%
24%
46%
59%
78%
0% 20% 40% 60% 80%
Employee productivity data
Annual employee review process
Employee retention/attrition data
Annual engagement surveys
How organizations measure employee engagement (by maturity)
Strategic Beginners
+36% Strategic organizations are 36% more likely to use standardized surveys
22 22
OUTCOMES Strategic organizations realize better results from engagement efforts:
• Increased employee satisfaction
• Improvements in workplace culture
• Increased total employee wellbeing
• Increased employee retention
38%
34%
24%
35%
36%
41%
49%
56%
65%
74%
0% 20% 40% 60% 80%
Productivity
Retention
Total wellbeing
Organizational culture
Employee satisfaction
Outcomes experienced from efforts to improve employee engagement (by maturity)
Strategic Beginners
+38% Strategic organizations show 38% increase in reported higher employee satisfaction
24 24
PRIORITIES Organizations plan to focus on: • Recruitment/retention • Employee communications
• Employee engagement • Employee wellbeing
83%
84%
86%
86%
87%
92%
93%
95%
96%
96%
0% 20% 40% 60% 80% 100%
HR impact on productivity
Integrating program/benefits
Benefits ROI
Administrative burden
Grow technology
Organization culture
Employee wellbeing
Employee engagement
Employee communication
Recruitment/retention
Top HR Initiatives for 2017
96% Organizations say recruitment/retention is a top priority for 2017
26 26
• Employee wellbeing is not an option – it’s a key component to improving an organization’s bottom line.
• Organizations with more advanced approaches to wellbeing and engagement are more likely to use metrics to ensure program effectiveness, and realize fewer barriers and greater outcomes.
• By investing in employee wellbeing as the foundation to improve culture and engagement, organizations can expect positive outcomes.
CONCLUSION
27
QUESTIONS?
Interested in learning more? Access related content such as:
• Building the Business Case for Wellbeing • Creating a Culture of Wellbeing • ROI vs VOI: How Wellbeing is a True
Differentiator Visit www.virginpulse.com/resources
28
THANK YOU
- Sir Richard Branson, Founder, Virgin Group
“Employees come first. If you take care of your employees, they will take care of your clients.”