But just what does it mean to be more excited about what you spend at least 8 hours a day doing! If you're not, it may not be your fault. Just as a lack of financial education, which isn't your fault, can lead to poor spending habits, a lack of concern on the part of your employer to get you engaged at work is also not your fault. This can lead to poor morale and poor performance.
Survey Finds Companies Don't Appreciate Employees
A recent survey conducted by the Society for Human Resource Management found some interesting data:
- 54% of HR leaders don't think managers and supervisors at their company effectively acknowledge and appreciate employees;
- 69% believe employees aren't satisfied with the level of recognition they receive at work
The majority of companies only find out about the level of an employee's engagement during the exit interview. Obviously, at that point it's too late. The more engaged an employee is, the better their performance; the better their performance, the higher the company's profit; more than likely, the higher the profit, the higher the employee's pay.
Lack Of Engagement Leads ot Lack Of Participation
During a recent web cast I attended, I was shocked to find that 50% of Gen Xers and Baby Boomers will have insufficient income in retirement due to lack of participation in their employer sponsored retirement plans. Perhaps it is due to the fact that employees don't feel engaged with their work, so they aren't engaged in other things relating to their work. These plans offer a great way to save for retirement on a pre-tax basis with the possibility of a match from the employer, which is free money.
How Can Employers Engage Employees?
The web cast presenter, Tina Wilson, suggested that employees need to look at their contributions to the employer sponsored plans as a liability, just like paying the mortgage, and this message needs to be "pushed out" by employers.
One way of showing employees you appreciate them is to educate them. What better form of education than with financial education? They will become aware of their options with money; they'll learn how to spend better so they can save more, pay off their debt and invest for retirement.
Would financial education provided by your employer make you feel more appreciated?