Identifying and Maximizing Employees Commitment and Engagement
Deloitte Consulting just completed a global study of human capital trends around interviewing 2,500 organizations in 90 countries and their overall conclusion is “companies are struggling to engage our modern, 21st century workforce.”
Deloitte’s analysis corresponds with the Gallup research which indicates that only 13% of employees around the world are actively engaged at work, and more than twice that number are so disengaged they are likely to spread negativity to others.
Some of Deloitte’s findings as reported recently by Josh Bersin in Forbes:
- 86% of business and HR leaders believe they do not have an adequate leadership pipeline (38% see it as an urgent problem)
- 79% believe they have a significant retention and engagement problem (26% see it as urgent)
- 77% do not feel they have the right HR skills to address the issue (25% urgent)
- 75% are struggling to attract and recruiting the top people they need (24% urgent)
- Only 17% feel they have a compelling and engaging employment brand.
After reviewing the data and talking further with many companies, Deloitte believes … “that workers today want more. They want something different. They are demanding, they want meaningful work, and they expect their employer to make work more rewarding in many ways.”
As one HR manager told Deloitte, “today employees don’t want a career, they want an experience.”
Some of the backup data:
- Nearly 40% of the US workforce now works part time.
- Baby boomers who lost their jobs are often out of work for 18-24 months.
- Millennials want more creative jobs and they want to work for startups (or for themselves). And everyone wants work to be easier, less punishing, and more meaningful.
- Retention is a major issue with other studies indicating that nearly 26% of the US workforce is going to change jobs this year, and these are typically the most highly skilled and motivated people.
- 66% of today’s employees feel “overwhelmed.” The concepts of work-life balance have been compromised due to the proliferation of technology breaking down the time parameters between work and personal time.
Deloitte recommends redefining how companies attract and retain employees through:
- The work itself — making it exciting and energizing.
- The management environment — investing in superior, responsive leadership.
- The flexibility and inclusion of the workplace — a transparent, sincere organization supported by hiring, training, and leadership behavior.
- People’s ability to learn and grow —- through comprehensive training and continual coaching programs.
- Trust and meaning from leadership — by demonstrating direction and purpose for the organization.
Deloitte notes that the United Nations “World Happiness Report,” shows that the happiest countries (Denmark, Norway, Switzerland, Netherlands, and Sweden) are those with some of the best reputations for work-life balance. Businesses in these countries are quite successful – and they have learned to build work environments which are humanistic and let people think. The Deloitte research actually shows that some of the most stressful places to work are in fast-growing countries like China, where work practices are still immature.
One example of the advantages of worklife balance comes from Zeynep Tom in “The Good Jobs Strategy: How the Smartest Companies Invest in Employees to Lower Costs and Boost Profits.” Her study compares profitability among retailers that “overstaff” (hire extra people to give people slack time) vs. those who “understaff” (they keep the stores very lean). She found that those who overstaff are more profitable by far, driven largely by their employees’ ability to think, serve customers, re-arrange the stores, and be cross trained.
Looking for some specific companies to study on how to increase successful candidate acquisition, employee satisfaction and retention Check out the companies recently cited by CareerBliss.com for maintaining a happy, productive workforce. They are:
- Philips Healthcare
- Insight Global
- State Farm Insurance
- Time Warner Cable (*Comcast is currently finalizing a merger with Time Warner Cable)
To see more of Josh Bersin’s observations regarding the recent Deloitte Global Human Capital Trends 2014 report, go to http://www.forbes.com/sites/joshbersin/2014/03/15/why-companies-fail-to-engage-todays-workforce-the-overwhelmed-employee. To access the complete report, go to http://marketing.bersin.com/deloitte-global-human-capital-trends-2014.html.
For more guidance on recruitment campaigns, retention programs and employee motivation, contact your Shaker Account Executive.