Key Actions To Take in 2023
Shift from Short-Term Reactions to Long-Term Vision
The ripple effects of surging inflation are reshaping perceptions about the future of work. Recent analysis1 reveals a striking shift: 44% of professionals now view their career trajectories in monthly increments, rather than years. A staggering 82% admit they’d switch roles for a better pay package or superior benefits. Clearly, employees are making choices that resonate with their immediate needs.
While continuously hiking salaries isn’t a viable long-term strategy, what can forward-thinking leaders do to retain their best?
Prioritise Professional Growth.
Demonstrating commitment to staff development isn’t just beneficial—it’s essential. It not only maps out a defined career journey but also empowers individuals to steer their own growth, a crucial factor during uncertain times. If upcoming decisions could affect your teams, clarity is key. Trust is a fragile entity; our data shows 33% of employees distrust their CEO, while 31% are skeptical of their immediate supervisors. Openness remains the cornerstone of trust-building.
Ground Your Pupose.
A sense of belonging and alignment with a company’s mission can be potent retention tools. As we navigate economic turbulence, holistic well-being should be at the forefront. While financial remuneration is crucial, it isn’t the sole factor determining job satisfaction.
Keep in mind, care is reciprocal. By supporting your team, you inspire their dedication and commitment to your business.
Rethinking Workplace Culture
The days of the rigid 9-to-5 routine are behind us. Yet, as the conventional work structures fade, some leaders grapple with releasing the reins.
Hybrid work offers teams unparalleled flexibility and autonomy. And while productivity hasn’t waned for many during remote work, some managers grapple with the invisibility of their teams and the challenges of juggling varied schedules. Collaboration, too, for some feels strained. Businesses insisting on selective physical returns to the office face friction. Data reveals that 47% of office-based staff feel burdened adjusting to remote colleagues’ schedules. Additionally, 52% of employees cite a growing disconnect with their organization as a potential reason for exiting.
But is the real challenge the hybrid model or underlying culture?
Culture manifests as collective behavior. The key to cultivating the right behaviors is connection. A disjointed team reflects a fragmented culture. However, a full-scale office return isn’t the panacea; 64% of our survey participants anticipate a negative mental health impact if forced back.
The takeaway? It’s time to reevaluate and recalibrate your culture.
Is your current culture geared up to tackle 2023’s challenges? Does it foster growth regardless of work location? If not, adapt to the hybrid era. Strategise to maintain virtual team cohesion and solidarity. Moreover, clear communication about work boundaries, be it time-based or goal-oriented, is crucial for those operating remotely.
Where to Start?
Why not start by asking your people what they think? Feedback tools aren’t just about annual appraisal, they can be used in innovative ways to not only find out what people are thinking, but also to help foster a sense of inclusion and unleash creativity. We are here to help.
Business Transformation and Innovation in a Hybrid Work Model
The starting point for any transformation is understanding what the current situation actually is. Our tools provide a tried and tested way of discovering (and uncovering) emerging trends and issues in your workforce. We provide data, both quantitative AND qualitative that enables you to get an accurate picture of what is happening.
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