Gallagher Study Finds Career Development as a Top Factor in Employee Engagement and Retention

Core Insights - The 2024 U.S. Career Wellbeing Report by Gallagher emphasizes the critical role of career development opportunities in enhancing employee engagement and retention, with only 35% of employers increasing their focus on this area despite its importance [1][2] - The report highlights a growing recognition among employers of the need for a consistent engagement strategy, with 57% having a formal strategy in place, an increase of 9 percentage points from 2022 [2] - There is a notable gap in employers offering challenging work, with only 19% striving to provide such opportunities, indicating a need for organizations to enhance prospects for increased responsibilities and promotions [3] Employee Engagement and Retention - Support for career development remains a key driver of employee engagement and retention, with 81% of employers now offering service awards or recognition, up from 75% in 2023 [2] - Clear goals and a sense of purpose are essential for motivating employees and enhancing their overall experience [2] Diversity, Equity, and Inclusion (DEI) - There is a growing acknowledgment of the importance of integrating DEI into organizational strategies, with 45% of employers designing initiatives aligned with core values, an increase of 4 percentage points from 2023 [4] - Despite the recognition of DEI's significance, many organizations have yet to fully integrate DEI practices, indicating a gap between intention and action [4][5] Report Overview - The Gallagher 2024 U.S. Career Wellbeing Report is part of the Workforce Trends Report Series, focusing on employee engagement and DEI, based on data from 3,552 organizations across the U.S. [6]