Business in the Community (BITC) has launched the latest version of its public reporting guidelines on employee engagement and wellbeing, updated in partnership with the investor community for the first time.
The guidelines, which were first launched in May 2011, aim to help companies implement consistent reporting on employee engagement. Additional features also include updates on the business case for engagement and wellbeing and best practice case studies from leading organisations.
To produce the updated guidelines, the BITC sought contribution from a steering committee of global investors which recognise the direct link between good employee practices and strong business performance.
Principles for Responsible Investment-coordinated Steering Committee member Amanda Young commented: "Many investors believe that there is a direct link between good employee practices and strong business performance - motivating staff can help to ensure productivity, minimise employee action, improve margins and enhance reputations. A company reporting on employment issues can be a more attractive investment than a company with poor disclosure on how it values its employees."
BITC Workwell director Louise Aston said that results from the first benchmark showed "exciting examples of leadership".
"However, disappointingly, the results also highlighted that public reporting on this topic is still very much in its infancy, highlighted particularly on the lack of psychological health reporting," she added.
"We hope the 2014 Benchmark, which is open to all companies and launches this September, will begin to show improvements in the way companies manage their people and report on their employee engagement and wellbeing, to help create happier, healthier and ultimately more productive workforces. This is fundamental to businesses and individuals. We have seen countless examples of lives that have been enriched and enhanced by employers creating the conditions for their people to flourish."
The next BITC Workwell benchmark will be launched in September, which includes a questionnaire providing 25 indicators for best practice employee engagement and wellbeing. It measures people management of all FTSE 100 organisations but is open to all organisations of any size.
Sign up to the free weekly newsletter from the editorial team at Workplace Savings & Benefits.Newsletter sign up
Benefex have created a guide to communicating your reward and benefit scheme. This guide will help you build a rock-solid business case for investing in communications, help you review what you currently have in place and present new and innovative channels.
This guide will help you identify historic elements of schemes that are no longer relevant, different ways to adjust the level of premiums you pay and also get an understanding of whether your current benefits package is appropriate and delivering value for money.