PWC Report: The keys to corporate responsibility Employee Engagement
PwC has published a report addressing questions such as whether employee engagement plays a key role in the success of both CSR programs and company-wide outcomes. After all, staff members who feel valued and productive have higher retention rates, increased productivity and greater motivation to give back to their colleagues, employer, community and the planet.
It is nearly impossible to tackle big corporate responsibility challenges without also tackling the operational challenge of employee engagement –which is both a means to drive your CR efforts and the end result. If you’re doing it right, employees become increasingly passionate about their work within the company and in the community. Our three-step model can help your firm achieve its employee engagement goals.
PwC found that the value of its campaign to improve the employee retention ROI of corporate responsibility was $165 million. This has driven a 5 percent higher retention rate among employees who participated in the company’s CSR programs.
A GreenBiz article has a list of the 10 ways to value and improve employee engagement based on PwC’s journey.
1. Quantify employee participation in CSR activities
As a basis for comparison, the team categorized employees into three groups based on their involvement level with CSR activities at PwC: no involvement in CSR, participation in one activity, and engagement (defined as participating a number of times).
2. Calculate tangible figures By keeping track of things such as hours spent or dollars donated, you can identify which activities are high motivators, and which are not.
3. Measure impact
4. Correlate with staff retention
5. Correlate with improved ratings
6. Correlate with productivity
7. Correlate with client satisfaction
8. Analyze nuances of employee roles
9. Examine generational differences (and similarities)
10. Track employee satisfaction and feedback
The full PWC report can be found here.