{"id":322807,"date":"2022-04-27T09:32:15","date_gmt":"2022-04-27T16:32:15","guid":{"rendered":"https:\/\/www.questionpro.com\/blog\/?p=322807"},"modified":"2023-07-26T05:48:43","modified_gmt":"2023-07-26T05:48:43","slug":"leaders-reevaluate-how-manage-workforce","status":"publish","type":"post","link":"https:\/\/www.questionpro.com\/blog\/leaders-reevaluate-how-manage-workforce\/","title":{"rendered":"Why Leaders Need to Reevaluate How They Manage Their Workforce Today"},"content":{"rendered":"

This article was first published in Forbes<\/a> website by Sanja Licina, PhD<\/a>, President at QuestionPro Workforce.<\/em><\/p>\n

As we navigate through 2022, many employers are feeling uncertain about the best way to drive their business forward \u2014 and perhaps rightfully so. In early November 2021, my company partnered with RADICL to better understand how workers are feeling and what they are looking for in the year ahead. We found<\/a>\u00a0that while only 47% of respondents feel fulfilled with their lives, 88% said they have big dreams. In fact, since the pandemic began, many workers have been \u201creevaluating their lives<\/a>\u201d and pursuing new opportunities, according to\u00a0Business Insider<\/em>.<\/p>\n

Nowadays, it\u2019s nearly impossible to get through the day without hearing about the \u201cGreat Resignation.\u201d After conducting our study, it became evident that we will continue to see important movements in the labor market. Almost 90% of workers who are employed full time said they have already taken some action to make a change. This matches up with data from the U.S. Bureau of Labor Statistics, which reported that\u00a04.5 million workers<\/a>\u00a0quit their jobs in November alone. This was an increase from\u00a04.2 million<\/a>\u00a0in October.<\/p>\n

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When it comes to people-related issues at work, two key questions are keeping employers up at night: \u201cHow do I keep my people from leaving?\u201d and \u201cHow do I best attract talent in an increasingly competitive marketplace?\u201d Your answers to these questions will have a significant impact on your business\u2019s bottom line, so let\u2019s take a closer look at two important factors: salary and culture.<\/p>\n

LEARN ABOUT:<\/strong> Work culture<\/a><\/p>\n

Why are salary and culture important for attracting and retaining workers?<\/strong><\/h2>\n

I believe a fulfilling job that pays well should be the norm rather than an exception. In my company\u2019s study, 50% of respondents ranked salary as the No. 1 factor for choosing a work opportunity, and more than 70% put it in their top two. In addition to the labor market being a \u201cjob-seeker\u2019s market,\u201d the November Conference Board Salary Increase Budget Survey predicts a\u00a03.9% increase<\/a>\u00a0in wage costs in 2022, the highest rate since 2008.<\/p>\n

LEARN ABOUT: Salary Survey<\/a><\/p>\n

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In addition to getting salary right, values are also a critical part of the equation. From my perspective, one of the key ways to feel fulfilled is to know your organization\u2019s values align with your own \u2014 that through your work, you are also impacting the world in the way you want to in your personal life. The study \u201cClosing the Employee Expectations<\/a> Gap\u201d from Future Workplace and Blue Beyond Consulting \u2014 which surveyed 753 full-time employees in the U.S. and Canada last summer \u2014 further supports the importance of values alignment. According to the report, eight out of 10 employees said it is important for their values to align with their company\u2019s.<\/p>\n

While employers think about pay and culture more often when it comes to talent acquisition, these are two key factors in retention as well. It is much more difficult to lure an employee away who feels a deep connection to the organization. In \u201cThe Heard and the Heard-Nots,\u201d a global\u00a0study<\/a>\u00a0conducted by The Workforce Institute at UKG, researchers highlighted that 92% of \u201chighly engaged employees\u201d say they feel heard at work, whereas only 30% of \u201chighly disengaged employees\u201d feel heard. Nearly three-fourths of employees also reported they are more effective at their job when they feel heard.<\/p>\n<\/div>\n

What does this mean for your company?<\/strong><\/h3>\n

With all of this in mind, I believe it is critical for organizations to not only lead with their story and their values when they are recruiting talent but also to take the time to evaluate whether their values truly are the best representation of who they are. Ask yourself: Do your company\u2019s values align with what workers find important in work and in their lives?<\/p>\n

Furthermore, take steps to foster a connection with current employees. I suggest holding ongoing conversations at scale and conducting employee surveys. The key is to ensure each person has a platform where they can share how they are feeling and know they are seen and cared for by the organization.<\/p>\n

With that, many organizations have a great opportunity to better understand how their employees experience their culture and where there is room for improvement. As the president of an online survey software provider, I\u2019ve seen that, though employee surveys have been around for decades, there is a tremendous opportunity to make them a more effective part of your people strategy. One way is by humanizing the process.<\/p>\n

Are you letting employees know in the most effective way that findings from your surveys are first and foremost for their benefit? Are you asking questions in such a way they will be able to understand what is most critical for their success and sense of fulfillment? Are you doing it in such a way that they feel like they can be open and candid about their needs and advise you on how to get better? When it comes to contemporary surveys, it\u2019s all about how you are doing them, not about whether you are doing them at all.<\/p>\n

The pandemic has created more urgency for organizations to reevaluate their cultures, identities and, more than ever, the needs of current and future workers. As people are emerging with big dreams and greater courage to pursue them, what an incredible opportunity for employers and workers to collaborate on truly creating a world of work that we have never seen before.<\/p>\n

Ready to create a workplace culture where everyone can reach their full potential? Learn more about how to get ongoing feedback from your employees and start taking action to make a positive impact in your organization with <\/span>QuestionPro Workforce.<\/span><\/a><\/p>\n