Employee resource groups, also known as ERGs, can provide a new avenue for engagement and education for an organization's employees. These groups have historically been designed and crafted to promote inclusivity and create a more diverse and supportive work environment for an organization. From an employer perspective, the development of ERGs can connect people from cross functional groups within the organization, provide a venue for employee engagement, enhance creativity and drive innovation by grouping together diverse perspectives. These groups can also provide access to increased networking growth opportunities within the organization and promote the development of skill and relationship building outside of an employee's typical department.
Let's take a look at some common types of ERGs:
ERGs can provide the framework and space needed for employees with like backgrounds and interests to come together and engage with each other. While many organizations originally leveraged these groups to promote diversity, equity and inclusion efforts, many are seeing the value in having other variations of these resources. According to a recent article from Zipdo, 90% of Fortune 500 companies have ERGs throughout their organization. The same study also found that companies with ERGs in place had a 72% higher retention rate than those who did not, hinting that ERGs may be contributing to an overall reduction in employee churn.
ERGs can also be an outlet and promoter group for your organization's overall mission. Here are some ways to leverage your organization's ERGs to reach your goals:
Supporting ERGs in an organization can boost the overall morale of employees, in turn, increasing innovation, creativity and productivity while also promoting psychological safety. These things can lead to a more dynamic and equitable workplace culture, significantly impacting an employer's overall image in the marketplace to those who may be seeking new employment, or by those currently employed by the organization. According to a recent article from Everyone Social, in a survey of millennial applicants, 70% of Gen-Z respondents were more likely to apply for a company that had ERGs, and a majority of Gen-Y respondents felt similarly. Across generations, over half indicated that the presence of ERGs in a company also positively affected their decision to stay.
Employees who receive the support they need from a creative and diverse workplace culture are far more likely to go above and beyond for their employer. As your organization looks to enhance your employees' workplace experience, reach out to your AssuredPartners team for more information and support.
In the rapidly evolving healthcare landscape of 2024, employee engagement and continuous communication have become non-negotiable components for success in pharmacy operations. For companies managing...
Health FSAs On October 22, 2024, the IRS announced in Rev. Proc. 2024-40 the annual inflation adjustments for the 2025 tax year. Included in this announcement, and of consequence to the employee...
As we commented upon in our January 2023 guidance, the Consolidated Appropriations Act, 2023 (CAA 2023) introduced numerous provisions directly affecting employers, including some welcome relief for...