FCCS News & Insights

Powerful Results from 2024 Employee Engagement Survey

The 2024 Farm Credit Employee Engagement Survey results are in, delivering a second year of System-specific data to bolster engagement baselines and identify emerging trends that can be tracked in the coming years.

Around 1,400 System employees completed the survey, representing 14 System associations that included five organizations participating for the first time. The average participation rate at the associations was 91%, easing concerns about survey fatigue.

“It’s best practice to conduct employee engagement surveys annually, although the optimal frequency is twice a year, especially during any major organizational change like a merger or executive transition,” says Angie Coleman, Organizational Development Consultant with FCCS who managed the Farm Credit survey process. “Given the design of the Farm Credit Employee Engagement Survey, it takes around 5 minutes to complete so it can also be added to complement another, organization-specific engagement survey.”

One of the most significant findings was a disappointing 14.8% drop in the System’s overall Net Promoter Score (NPS), which is a simple measurement of loyalty and satisfaction, although some organizations saw an increase among their employees. [Please see related Customer Spotlight article.] Other, more detailed System results have been shared with the participating organizations, alongside their own confidential, association-specific engagement data.

This year’s survey included a new metric that aligns more closely with other industry baselines for more direct comparison to the broader financial industry. It also included an additional five questions exploring the scope and impact of burnout among Farm Credit employees.

“Research is showing that burnout is an antecedent for decreased engagement, and these additional questions enable each association to more accurately diagnose where their people are feeling burnout so they can then tailor strategies to address the root causes,” says Angie.

FCCS has delivered in-depth reports to each participating organization, and is meeting with leadership teams and boards of directors to talk through the implications, identify areas for improvement and explore action plans.

The 2025 Farm Credit Employee Engagement Survey is slated for May; all Farm Credit organizations are invited to participate to receive detailed association-specific engagement results along with aggregated results for all participating groups. The results of the 2024 Agricultural Cooperative Employee Engagement Survey will be delivered to participating cooperatives in January 2025. For more information, contact Angie Coleman at 303.887.3791 or via email.