The workforce trends of the present day have caused a lot of tumult. Despite the challenges such as shorter terms for employees and periodic team formation changes, life has been affected in both small and considerable ways. All organizations worldwide notwithstanding industry, geography or category face pressure every day to meet higher expectations regardless of expenses and cost concerns. But sometimes, expectations cost money and also does not heed any boundaries.
Employees today have higher expectations be it coaching and development or compensation. Organizations too have high expectations of employees. For example, Organizations expect employees to grasp constant changes within the organization, to be more “updated” and take on more responsibility. HRs’ around the world, found that handling high employee expectations is a huge concern. These three insights can help.
Providing a Work-Space Culture that Performs:
Culture is one of the most pressing talent issues today, and organizations expect HRs’ to focus on and execute culture initiatives. But despite most companies now spending more on culture management activities, just 3 out of 10 HR leaders are confident that their organizations have the culture in place for future business performance outcomes.
This is because most culture management activities depend on changing some aspect of employees. For example, most organizations communicate desirable qualities to employees and ask senior heads to structure the culture they require. But the greatest impact on workplace culture is when senior officers stress these qualities in how they manage the business, which only few of them actually do.
The best way to approach this is for companies to shift from a people-focused culture to a process-focused strategy. Create a plan to make sure employees understand the culture and teach them to apply the “how” of culture in their daily work and this requires the leaders to structure processes that support this culture.
Organizations that make these changes could achieve a high workforce-culture synchronicity, resulting in a 9% increase in revenues and a 22% increase in employee performance.
Restructuring of Manager Coaching
Organizational structures, performance management and career expectations have changed the way how employees work today. Nearly 40% of the skills employees apply were acquired within the past year. To do this, Learning & Development depends heavily on managers to take a “always-on” approach to helping employees develop a broad range of skills. But this “training” approach overwhelms managers, causing manager quality to dissipate and employee performance to decrease by 8%.
The best managers’ act as joining blocks and pair up employees with advisors and also personalize the training methods to resonate with employees, power up the team for development, and connect employees with new contacts to expand their horizon of networks and experiences.
Companies that want their managers to fuel better team performances without disconnecting the employees must shift their focus in to developing such managers across the company.
Address pay equity
The workplace is becoming more and more diverse, but progress toward equal pay for equal work has come to a standstill.
Payment gaps are widening over time, and reports show that this will continue to increase by 0.17% every year. Organizations that close gaps and maintain equity now will pay less than those that wait because the cost to correct gaps increases annually.
Current pay equity structures leave organizations vulnerable to increased legal, talent and reputation risks, as well as requiring hard work between wage adjustments. There is a 16% drop in interest to stick on when employees experience a pay gap in their organization. Organizations can reduce risks by incorporating assessments throughout the compensation cycle and using open communication paths to address employee perceptions on the pay gap.