Category Archives: Talentism

Core Employee Needs: Not All or Nothing!

data point tuesday_500

It seems as though we are consistently seeing data that show decreasing levels of employee engagement and feelings of fulfillment at work. This data can be, and has been, attributed to many factors, such as a lean post-recession workforce, an increasingly competitive talent landscape, and the uber-connected, uber-informed and uber-on business world in which we operate. I’d agree that all of these can create barriers to an engaged workforce, or challenge an already highly engaged workforce. There’s also data indicating (as I discussed in my post on what Millennials look for in a great workplace) that high amounts of stress, feelings of low-engagement or no work/life balance are not as significant as we may think. There are, on a positive note, data that suggest workplaces are doing much to negate issues of engagement and work/life balance, but much of this research comes from companies classified as “Best Workplaces” and considering the frequency of content reporting low levels of engagement, trust, and happiness, such companies may be few and far between. Ultimately, we can only take data at face value. The real importance of looking at such workplace statistics is to inform ourselves and build our “bigger picture” – know what’s out there, know what’s conflicting, and create solutions and approaches that are right for our own people, culture and strategic goals.

Some data I recently found interesting comes from an article published in The New York Times, “Why You Hate Work” which included research from The Energy Project, an organization that aims to increase employee engagement and sustainable performance for organizations and their leaders. The article, by The Energy Company’s CEO Tony Schwartz and consultant Christine Porath, discusses how “the way we’re working isn’t working” and that it’s increasing common for both middle managers and top executives to feel overwhelmed and disengaged. In an effort to understand what’s impacting people’s engagement and productivity at work, The Energy Project partnered with The Harvard Business Review to survey 12,000 + mostly white-collar employees across a range of industries and organizations. They found that employees are considerably more productive and engaged when they have the opportunity to: regularly renew and recharge at work, feel valued and appreciated for their contributions, focus in an absorbed way on their most important tasks, define when and where they get their work done, do more of what they do best and enjoy most, as well as feeling connected to a higher purpose at work. The study attributed these four areas to four core needs: physical, emotional, mental, and spiritual.

Energy ProjectIn terms of the core physical need at work, The Energy Project’s study determined that employees who take breaks every 90 minutes find themselves with a 30 percent higher level of focus than those who take one or no breaks during the day. These employees also report a 50% greater capacity to think creatively and a 46% higher level of health and well-being. Also interesting, is that when employees feel encouraged by their supervisor to take breaks, their likelihood to stay with any given company increases by nearly 100%.  For the core emotional need, feeling cared for by one’s supervisor has the biggest impact. Employees who noted having more supportive supervisors were 67% more engaged. The core mental need? Respondents that were able to focus on one task at a time reported being 50% more engaged (although only 20% of respondents reported being able to do this). Comparably, just 1/3 of respondents reported being able to effectively prioritize their tasks, but those who did were 1.6 times better able to focus on one thing at a time. In regards to the core spiritual need, the Energy Project’s research found that employees who derive meaning and significance from their work reported 1.7 times higher job satisfaction and were 1.4 times more engaged at work.  In a nutshell, this data show that how employees feel at work has a huge impact on their engagement and productivity.

One last valuable nugget of data to note from this study is that when employees have even just one of the core needs discussed above met, versus none, all variables of their performance improve (from engagement, to loyalty, job satisfaction, positive energy at work, and lower perceived levels of stress). This is good incentive for organizations to work on things one step at a time. It clearly isn’t an all or nothing proposition. Positive changes in employee engagement don’t necessarily happen from massive culture changes or vast implementation of new programs. Baby steps are okay folks; and the more core needs are met, the more positive the impact!

1 Comment

Filed under Career Planning, Center on Education and the Workforce, Millennials, Talentism, Uncategorized, Workplace Strategies

Is Talentism the New Capitalism?

data point tuesday_500

“Is talentism the new capitalism?”

Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, thinks so and said as much as he opened this year’s event in Davos.

Mercer chose this quote to open the executive summary of its new report, Talent Rising:  High-impact Accelerators to Global Growth. It includes some great survey data from more than 1,250 HR and talent management executives in 65 countries around the world. It includes important and useful data about how organizations are or are not expanding their definition of capital to include talent.

Forever, it seems, organizations’ primary sources of value and competitive advantage have been financial in nature:  money, lands, buildings and machines – all the values carried on the balance sheet. Mercer’s observation that with human capital being the main determinant of success today, it is troubling that so many organizations leave the development of their talent “largely to external systems and forces, with resulting gaps in their talent portfolios.”

(One could also position that if, indeed, human capital is the main determinant of organization success today, then there should be an entry on the balance sheet to capture its importance. But that’s for another day.)

This report is a huge call to action – not just for HR, but for the entire C-suite. And it is a great roadmap for HR to initiate the discussion of talent as capital.

Central to this discussion is the definition of strategic workforce planning. We hear about this all the time in HR. And BCG, funded by the World Federation of Personnel Management Associations together with SHRM, has observed that there is low current capability worldwide in strategic workforce planning. Perhaps that’s because we know it when we see it, but we can’t really define it.

Mercer’s done a great job of defining strategic workforce planning and published a great infographic along with the Talent Rising executive summary.

Mercer Strategic Workforce Planning Infographic

This 7 step virtuous circle seems simple enough, but I think we all know that sometimes the most simple things are the hardest to achieve. And that certainly would be true for strategic workforce planning. Identifying accelerators on which to focus might help organizations begin to break the process down into manageable chunks.  Just knowing where to begin will undoubtedly help some make progress.

“Talentism is the new capitalism.” Well, maybe in 5-10 years. When HR is seen as a business function and not an overhead function.  And human capital is valued on the balance sheet.

We can dream, can’t we?

6 Comments

Filed under Boston Consulting Group, C-suite, CEOs, China Gorman, Connecting Dots, HR Credibility, Human Capital, Mercer, SHRM, Strategic Workforce Planning, Talentism, World Economic Forum