1. The “Great Resignation” will cause organizations to fight to attract and retain top talent
People are quitting their jobs in record numbers. Since April 2021, 15 million people have left their jobs. Experts are forecasting that the quit rate will continue or accelerate in 2022. A Gallup survey reveals that 48% of employees are actively looking for a job or willing to consider a new job.
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1. The “Great Resignation” will cause organizations to fight to attract and retain top talent
How can you retain and attract top talent in this environment? Focus on sustaining a great culture with engaged employees.
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2. Employee Compensation and Well-Being Will Be Key Issues for Leaders to Solve in 2022
As we look at BWCI’s database, issues related to employee compensation and well-being are increasing. As for-profit corporations increase entry-level pay due to a tight labor market, the gap between industry and non-profit compensation is increasing. At the same time, employees are feeling the strain of mental
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2. Employee Compensation and Well-Being Will Be Key Issues for Leaders to Solve in 2022
health issues, which puts a focus on PTO, medical, and retirement benefits.Leaders will need to address raising compensation and benefit costs in their financial models. However, the issue goes beyond pay. New research from Oracle shows that 88% of workers feel that the meaning of success
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2. Employee Compensation and Well-Being Will Be Key Issues for Leaders to Solve in 2022
has changed. Employees are prioritizing work-life balance, mental health, and having a meaningful job. The workforce is exhausted from being “on” for long hours with digital access.
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3. The skills of the front-line manager will become increasingly critical to organizational effectiveness
The front-line manager is the key link between the employee and the organization. A strong connection is at the heart of retention. BCWI research shows that front-line manager skills and impact are below pre-COVID levels. With the prevalence of remote work, employees sense that managers care less about them as people.
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3. The skills of the front-line manager will become increasingly critical to organizational effectiveness
Great leaders have an opportunity to step up in this environment to model caring while they coach and equip their front-line managers to care for their direct reports.
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4. A Hybrid or Remote-First Approach will be adapted by many organizations
The idea that work only happens in an office is not coming back. The technological tools for working from anywhere were being used pre-pandemic, and the ability to pivot to remote work for many organizations illustrated that a fixed place for work is not required. An overwhelming percentage of remote workers desire the
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4. A Hybrid or Remote-First Approach will be adapted by many organizations
flexibility to continue to do at least some of their work from home.
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5. Leaders are out of touch with employees and will increasingly rely on engagement surveys and focus groups
Before discounting this insight as just focused on the BCWI Engagement Surveys, note that employee surveys are a regular tool of many large corporations. Microsoft utilizes pulse surveys throughout the year and surveys more than 2,500 employees every day.
Of course, building a healthy organization through employee feedback depends on two
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5. Leaders are out of touch with employees and will increasingly rely on engagement surveys and focus groups
factors: the quality of the survey, and the plan for implementing results.
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6. Continued expansion of gig workers or contingent workers
Employers will continue to increase the use of contingent workers to tap into special skills, augment staff during peak seasons, and reduce costs of benefits and overhead.This trend is not new in 2022, but organizations are seeing the ongoing benefit of using gig workers.
In a competitive labor market
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6. Continued expansion of gig workers or contingent workers
where hiring is difficult, you can try out a gig worker for a specific project with low risk. Once they have successfully completed a few projects, ongoing projects can augment your staff team and provide access to specialized skills.
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7. Expanded focus on Diversity, Equity, and Inclusion
Many organizations made commitments to improve diversity, equity, and inclusion over the past few years, and employees expect real progress. This was not a short-term fad, and the work is not finished.