See how WeSpire enables individuals and entire organizations to drive measurable, positive impact.
With employee engagement levels remaining stagnant in the U.S. at an alarmingly low 32%, many organizations are stymied for fresh inspiration to drive up this key statistic.
According to Gallup, the annual per-person cost of lost productivity due to sick days is $28,800 among employees ranked with the lowest well-being scores. However, for those with the highest well-being scores, the per-person annual cost is only $840.
This huge cost differential is the reason why employers are increasingly focusing on robust workplace wellness programs. What’s more, when health and well-being are actively promoted in the workplace, companies are 2.5 times more likely to be viewed as top-performing organizations. As a result, meaningful well-being perks can help organizations attract and retain the best talent in the field and drive meaningful business outcomes.
A recent Gallup report shows that companies with highly engaged employees have 147% higher earnings per share compared to companies with low employee engagement. In addition to driving higher levels of productivity and lower turnover rates, employee engagement programs also positively impact customer ratings and satisfaction: Analysis by Harvard Business School found a causal relationship between customer loyalty and employees’ participation in sustainable activities through Caesars’ engagement program.
For the first time in California history, at the start of April, the state imposed mandatory water restrictions in response to the state’s four-year drought. Countless articles have highlighted the drought’s impact on communities, agriculture, and residents alike. While opinions differ, consensus does emerge around the idea that every Californian can and should make some change in their behavior to reduce their own water use.
But behavior change is hard to do and it involves both raising awareness and providing triggers that both elicit interest and motivation to take action, which over time, will change behavior. Triggers can be utilized in many different ways—the trick is knowing which trigger to use based on a user’s likes and dislikes. In order to inspire Californians to reduce their water usage, they need to benefit from technology that will help them become knowledgable about how they can make an impact—and share their experiences with others and inspire change on a large scale.
The Millennial generation, which will make up three-quarters of the nation’s work force in a decade, is creating new rules of engagement for employers. In Daniel H. Pink’s Drive, the 2009 book suggests that Millennials want autonomy, the chance to get better at what they do, and a purpose that connects them to something larger. Gone are the days when a competitive salary, an office in the suburbs, casual Fridays, and a chance to work your way up the corporate ladder reduced turnover and attracted the best talent.
In Part 1 of this series, we focused on how WeSpire measures the ROI for employees or “users” on our platform and explained the importance of going all in for building employee engagement—dipping your toe into this kind of thing doesn’t work and doesn’t get you the return you need.
Nearly 50% of sustainability leaders report measuring ROI as their greatest challenge (Source: Aberdeen Group). What if you could encourage all of your employees to act sustainably and easily measure the ROI of your employee engagement project? That’s just what Sony Electronics (SEL) set out to do when it launched the Green Workspace Certification employee engagement program on a customized version of the WeSpire platform.
I’ve been the CFO of a billion dollar media business, helped start dozens of venture-backed companies and I’m a fanatic about proving the numbers. “Warm and cuddly” initiatives are great, but it doesn’t mean much in a financial context. I’m all for saving the world—environmentally or otherwise—but it has to make business sense first and foremost. And I’m not alone. CFO’s put only 17% relative weight on the qualitative narrative of social and environmental impacts compared with 73% weight on financial return and payback when considering capital investments (Source: Accenture).
The dogs days of summer have just ended, making it an opportune time for measuring employee engagement successes of WeSpire users and looking at a quick summer recap as we get ready to pull out our fall wardrobes and eat and drink everything pumpkin flavored. So what are the biggest sustainability trends in employee engagement we saw this summer? Of the 20 actions that generated the biggest waste, water, emissions, fuel and energy savings, 60% were commuting and travel related. Whether at work, or at the beach, WeSpire users are making a significant impact.
“Water is ‘the big elephant in the room,’” said Joe Kava of Google in a recent Financial Times article. This is evidenced in many parts of the U.S. and the world, which are in the midst of a severe drought. On the west coast, California is in its third consecutive year of drought, having only received 20% of its average rainfall. This is affecting households, corporations, and entire industries.