Gallagher Study Finds Career Development as a Top Factor in Employee Engagement and Retention
"Hiring and retaining talent is one thing, but driving better organizational outcomes requires effective engagement solutions," said
Support for career development, growth, and mobility has been a steady driver of engagement and retention, and it still is — now more than ever.
More employers are recognizing the importance of developing and implementing a consistent engagement approach, as nearly 3 in 5 (57%) have a formal strategy for improving employee engagement—up 9 points from 2022. Nevertheless, it's important for employers to understand that drivers of engagement change with circumstances.
Service awards or employee recognition are commonly offered by 81% of employers—up from 75% in 2023. There are many more tactics, however, that can help build engagement. In recent years, neither pandemic setbacks, economic disruptions, nor financial turbulence have diminished employees' interest in opportunities to develop and grow their careers. Clear goals, a sense of purpose and direction motivate employees and enhance their experience.
While 43% of employers support employees in developing and pursuing a career path, less than a fifth (19%) strive to offer interesting and challenging work. To motivate employees to stay engaged, organizations should consider better prospects for increased responsibilities, new challenges and promotions.
More employers are embracing the value of DEI but are slow to fully integrate their practices.
Across all types of organizations, the importance of integrating DEI into the people strategy is gaining recognition. More leaders acknowledge its influence on workplace culture and feel a growing urgency to respond to key stakeholders' expectations. However, few have actually completed the integration of DEI policies, practices, and programs within their organization.
To bridge the gap between intention and action, employers are taking a more holistic approach to DEI. Nearly half (45%) are designing initiatives to align with the core values of the organization—up 4 points from 2023. DEI needs to be embraced as a philosophy for successful integration, not treated as a program.
"A committed employee engagement strategy that includes DEI can strengthen culture and retention," said Ziebell. "And consistency in these aligned approaches will promote trust and credibility, ensuring that the employee experience remains a top organizational priority."
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