Employee engagement and wellbeing with the payslip

Employee engagement is big news. Or at least, it has become big news over the past year as the pandemic raged on and employers looked to amplify their engagement initiatives. Keeping employees engaged and motivated is equally a strategic business objective as it is a tactical one. A happy and engaged workforce is crucial for employee attraction and retention.

According to a 2017 Qualtrics survey, UK workers were found to be the least engaged in the world. Imagine if that same survey were run again today. Would the statistics look similar?

Over the past year, employers have been tasked with implementing new engagement initiatives or improving current initiatives to encourage dispersed workers to remain connected with the business. These initiatives will come in many shapes and sizes according to sector and budget. From daily Teams check-ins or weekly progress reports all the way to employee experience or wellbeing platforms - employee engagement is now a high priority for businesses looking to engage with, and retain their staff.

Learn more about PayDashboard's Employee Engagement Module

Employee engagement for brand and business advantage

Employee engagement is also a great way to leverage brand advantage to make companies an attractive place to work. As Generation Z enters the workforce, they will have certain expectations about the work culture, within which employee engagement will play a major role. Instrumental in this will be the synergy between technology and wellbeing initiatives.

The payslip – a new addition to the employee engagement toolbox

This synergy has been made possible by cloud technology. The evolution of the humble PDF payslip into a hub of financial wellness resources has revolutionised payday from a transactional process into one that is a bona fide engagement and wellness experience.

Employees are more likely to engage with their online payslips if the benefits extend beyond the actual payslip data. For example, PayDashboard currently has a 60-70% average payslip open rate. This number is significant, when compared with paper or email payslips and is largely due to the addition of financial education, services, products and tools available in the payslip platform. From an engagement perspective, it represents the ultimate opportunity for employers to ensure they get the most out of employee communications.

Security

Last but not least, the data security benefits of the cloud payslip platform are unparalleled. For the first time ever, employers can reward their employees while enjoying the benefits of having payslips, PAYE forms and all employee communication within a single, all-encompassing best of breed, GDPR-compliant solution.

Learn how you can elevate your brand in front of employees and differentiate yourselves from the competition with a custom-branded PayDashboard platform

Want to know more? Why not get in touch with us or book a demo of the PayDashboard platform. We’d welcome the chance to have a chat about the current challenges you might be facing, or to provide more information about how we can help you enhance your employee engagement with our SmartSlip® solution.

“We were initially just looking to move from paper payslips to electronic, but PayDashboard has provided us with so many additional benefits beyond time and cost efficiencies.” - Paul Cunningham, Head of Payroll - Norwich Football Club