Newport LLC, a mid-size business consultancy, publishes guidance on workforce challenges beyond return to work

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The new workforce versus CEOs

WASHINGTON, September 29, 2021 / PRNewswire-PRWeb / – The Association for Corporate Growth (ACG) recently published its Middle Market Growth magazine with the headline “Race to Reinvention”. Can you understand The articles were thought-provoking and focused on the future of work. The magazine’s articles, along with the current business environment, have raised questions that many CEOs, perhaps like you, face.

Questions from the CEO:
A. Do my employees feel engaged and enjoy their work? How should i know
B. Do my employees really have to be in an office for the company to be successful?
C. Who am I really concerned about the loss that is affecting our sales, competitive advantage and / or customer relationships?
D. What key role (s) am I concerned about or having difficulty fulfilling in order to achieve our long-term goals?

The way forward:
There are steps CEOs can take with their HR manager to mitigate the impact of the “big break” employees are working on and proactively address talent management year-round – not just when a crisis strikes.

This starts with a data-driven approach. It’s important to understand which employees are most at risk and why, and what your value proposition is for your future employees. The answers are not always clear. Using workforce data, analytics, and a structured process can help uncover underlying trends that are affecting employee engagement, productivity, churn rates, etc., so organizations can implement a more strategic approach to talent retention and management.

State of affairs – the labor market:
Every entrepreneur / CEO knows that we are faced with a tight job market. According to the August report by the Bureau of Labor Statistics, the unemployment rate fell 0.2 percentage points to 5.2 percent. The number of unemployed fell to 8.4 million after a sharp drop in July. Both key figures are well below their highs at the end of FebruaryApril 2020 Recession. However, they remain above their pre-coronavirus pandemic (COVID-19) levels (3.5 percent or 5.7 million in.) February 2020).

Some of the unemployment figures are what is popularly known as “the great resignation” of our workforce. According to the US Department of Labor in the months of April, May and June 2021, a total of 11.5 million workers quit their jobs.

Employees want more control over where and how they work. Studies by McKinsey and Pew Research show that 52% and 54% of employees would like to work flexibly or from home. A McKinsey survey also found that 30% of employees would likely switch jobs if they had to work on-site full-time. What we often forget is how many worked from home before the pandemic. Research by Gartner showed that 30% of the workforce prior to the pandemic were working at least part-time from home.

The company outlook – after COVID:
A survey by the Association for Corporate Growth of 100 medium-sized business executives found that 45% expect financial performance to be well above pre-pandemic levels and another 45% expect pre-pandemic or close to levels. To achieve their ambitious growth goals, companies need the right people.

Looking ahead, 78% of ACG respondents see a hybrid work model.

The constant challenge is to retain and recruit top talent. Louis Aurelio, Managing Director and CAO at Kinderhook, points out that having a strong leadership team is critical to helping companies find the right mix of office and remote working.

The dilemma – how to deal with the new expectations of employees:
Many believe that the wage compression of years with wage increases of 2% is the current reason why people change jobs. According to Prudential’s Pulse of the American Worker Survey: Post Pandemic Work Life, 24% of respondents will be looking for new jobs. 34%).

However, according to HR management and payroll company ADP, wages for job changers or people who started a new job during the year are only 5.8% higher than they were twelve months ago. Historically, job changers would see increases in the range of 10% or more. “You should also be concerned that people don’t just leave for the money,” she says Bradford Frank, a Grain ferry Senior Client Partner in the firm’s Global Technology division. Frank says the data is a clear indication that people are moving to positions with better working conditions and companies that better suit their personal interests. “This reinforces the idea that people want to work for companies that make sense and offer flexibility,” says Frank.

Many organizations raise concerns about maintaining their culture if they do not return to the office. However, the ACG survey found that 44% of respondents said that working remotely does not affect corporate culture, and 34% see a positive effect. Gartner found that employees were more productive when they worked remotely and exceeded expectations. Additionally, employees with flexible work options are more likely to bring their authentic selves to work to improve engagement and performance.

The return to work:
A strong consideration needs to be how employees view the return to work. If the organization requires employees to be in the office, what about? For example – bringing workers back to the office but notifying them that the new COVID protocols have closed the kitchen; that only two people can meet in the conference room at the same time; and there should be minimal desk discussion, then ask her to come back to the office to work alone. They’d be happier at home!

The key is to focus on the working arrangements that are best for your company. Bringing employees to the office once, twice or three times a week should be accompanied by a regular routine or special event that is unique to the office. Whether it’s regular team discussions, social hours, continuous learning events, etc., there is a greater sense of being together. (And justifies the commuting.)

Instead of letting the individual or the CEO decide when to be in the office, let the work team decide. Letting the team set the pace of work at home and in the office can make schedules more productive instead of following a unified approach.

Beyond returning to work:
Looking back at the CEO questions, it can be seen that getting back to the office or not is just part of the post-COVID workforce challenges CEOs face. Business success also requires market data, knowledge of your employee engagement, and attracting and retaining key talent.

Kevin Shane is a partner at Newport, LLC and leads the human capital practice for the Mid-Atlantic region. Make an appointment with Kevin at [email protected] He can also be contacted at 301-512-3354.

Media contact

Kevin Shane, Newport LLC, 301-512-3354, [email protected]

SOURCE Newport LLC


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