Why employee engagement matters for credit union growth

When employees are engaged, companies thrive – and lack of engagement comes at a cost. Consider industry research published by TechJury, which reveals that companies with a high level of employee engagement are more profitable by a factor of 21 percent. By contrast, disengaged employees cost their employers $450 to $500 billion in the U.S. each year.

Employee engagement translates into better customer experiences as well. When surveyed by Gallup, companies with the most engaged teams experienced 10 percent higher customer metrics than those with the least engaged teams.

It’s also important to understand how the pandemic has impacted employee morale and engagement the past year. With departments and teams separated by new work-from-home paradigms, it has never been more challenging to keep employees connected and engaged. And it has never been more important.

Recently, CO-OP Financial Services launched several new employee engagement initiatives – and they are yielding positive results enterprisewide. So much so that we were named one of 50 “Most Engaged Workplaces” for 2021 by Achievers, an honor we share with our friends at VyStar Credit Union of Jacksonville, Florida, and SchoolsFirst FCU of Santa Ana, California, who were also selected.

 

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