Is your organization simply irresistible - Deloitte

1 Isyourorganizationsimplyirresistible? Creatinganorganizationpeoplewillclamor toworkforandhatetoleaveBrochure/reportti tlegoeshere|Sectiontitlegoeshere2 Whatifyourcompanyhadthechancetotriple orquadrupleitsmarketvalueoverthenextteny earsusingassetsitalreadyhasinplace?2 Andwhatifthepathtothatresultstartswithup endingconventionalwisdomaboutwhoyour mostimportantstakeholdersare?Theyaren tyour |Creatinganorganizationpeoplewillclamort oworkforandhatetoleaveIsyourorganization simplyirresistible?|Creatinganorganizati onpeoplewillclamortoworkforandhatetoleav eMillennials expecttheiremployer tofocusonsocietalormission-drivenproblem s1becreativeatwork265%itisbelievemanagem ent sjobtoprovidethemwithaccelerateddevelopm ent ,anew socialcontract at autonomythaneverbefore, andwiththisheightened autonomycomesgreater bargainingpowertoexpectabetter,newlyreim agined workplaceexperience..andso shouldyour approachTocompeteeffectivelyinaneconomyi n whichemployeescalltheshots, employersmustrethinktheirapproach ,toptalent canaffordtobechoosy,andtraditional buzzwordssuchas flexibility and learning quicklyevolvinglandscape,companies shouldproactivelycreateanirresistible experience amagneticorganization thatempowered,free-agentpeople can surveysEmployeeexperienceistheholisticvi ewoflifeatwork,withconstant feedback,pulsechecks,action,andmonitorin gCultureissharedonthewebsiteandviaposter sonthewall,butisnot measuredordefinedthroughbehaviorsCompani esconsistentlymeasure,align,andimproveup ontheirongoing curationofculture,especiallyintimesofcha ngeCompanieshaveseparateHRleadersacrossr ecruiting,learning,rewards, engagement,andotherHRserviceareasCompani eshavesomeoneresponsibleforthecompleteem ployeeexperience, focusedonemployeejourneys,experiences,en gagement,andcultureCompensation,benefits .

2 Andrewardsaremanagedwithafocuson benchmarkingandfairness,viaabell-curvemo delCompensation,benefits,rewards,andreco gnitionaredesignedtomake people sworklifebetterandtohelpbalancefinancial andnonfinancialbenefitsWellnessandhealth programsarefocusedonsafetyandmanaging insurancecostsCompanieshaveanintegratedp rogramforemployeewellbeingfocusedon theemployee,theirfamily,andtheirentireex perienceinlifeandatworkRewardsarethought ofassalary,overtime,bonus,benefits,and stockoptionsRewardsalsoincludenonfinanci alcomponentslikemeals,leaves,vacation policy,fitness,wellnessprograms, easytocompleteHRtransactionsandreportsTh eemployeeexperienceplatformisintuitively designed,mobile,and includesdigitalapps,prescriptivesolution sbasedonemployeejourneys, andongoingcommunicationsthatsupportandin spireemployeesIsyourorganizationsimplyir resistible?|Creatinganorganizationpeople willclamortoworkforandhatetoleaveAreyou simplyirresistible or just somewhatirresistible ? irresistible payoffintermsofmarketvalue?

3 What sthe bigdeal?A Deloitte study revealed thatorganizations with a soul outperformed the S&P 400acrossseveralhardmetrics: Higheremployeeretention Bettercustomerservice Long-term profitability engagementviayourleadership,culture,proc esses,andtalent savitalingredientfor ,companiesshould surroundtheirpeoplewiththerightmixofsust ainingelements. Theseincludetheworkitself,goodmanagers,t heoffice environment,opportunitiesforgrowth, remainsaglobalchallenge4 Overallrating160 |Creatinganorganizationpeoplewillclamort oworkforandhatetoleaveTheSimplyIrresisti bleOrganization simportantforcompaniestosurroundtheir talentwithanarrayofpracticesthattouchont heworkforce,theircolleaguesaroundthem especiallytheirmanagersandleaders theworkitself,andtheemployees opportunitiesfor ,wehavedefined fiveprinciplestohelpcapture irresistible . Whyourmodelis different andwhy itworksOnestrengthofourapproachisits difficulttounderstandandwhile someideasmaybeprovocative, nothingaboutthemodelis , wehavecreatedacollectionof common-sensepracticesthatour researchhasconnected(read.)

4 Statisticallyvalidated)withhealthy workplacesandsuperior salsoacollectionofpractices coordinationattheleadership level notexclusivelywithinHR to supportacommonunderstanding oftheoverarchingmindsetdriving makingyourorganizationirresistible andourapproachincorporatestools thatprovideregular,unbiased,andanonymous pulse-checkstomonitor sSimplyIrresistibleOrganization modelMeaningful workSupportive managementPositivework environmentGrowth opportunityTrustin leadershipAutonomyClear& transparent goalsFlexiblework environmentTraining& supporton thejobMission& purposeSelect-to-fitCoachingHumanistic workplaceFacilitatedtalent mobilityContinuous investmentin peopleSmall, empowered teamsInvestmentin developmentof managersCultureof recognitionSelf-directed, dynamic learningTransparency&honestyUnstructured timeAgile performance managementFair,inclusive,diverseworkenvi ronmentHigh-impact learningcultureInspirationCross-organiza tioncollaboration&communicationIsyourorg anizationsimplyirresistible?

5 |Creatinganorganizationpeoplewillclamort oworkforandhatetoleaveMeaningfulworkBeyo ndputtingmoneyonthetable, peopleworkbecausetheywanttocontributeto andcreate ,however,sotomakeworkmeaningful,it simportanttocreateroomfordifferentperspe ctives. When you grantpeopleautonomy,theyarefreeto add themselvestothejob, todevelop theirunique workstylewithinestablished creativityand ownershipcan sparknew waysof thinkingand working,and weseeleadingcompanies both encouragingand harnessingthisexpression of individualismintheworkplace. Anothercontributingfactor, selection-for-fit, means lookingpasttraditionalplacementfactorsli kegradesor pastemploymenttohelppeoplefindthejobstha tfeel ,forexample,foundthat successamongsalesrepsincosmeticscorrelat edmore Puttingpeopleinsmall,empoweredteamsenabl es peopletointeractdirectlyanddevelopcloser elationships, wheretheycanexhibitgreatertrust,inclusiv ity,andmutualrespect basedonhowtheteampreferstooperate. Thelastcomponentofmeaningfulwork,unstruc tured time,isoftenmisunderstoodas timetogoofoff.

6 It s , unstructured meanstimeto fixthings,talk,andreflectonwhat sworking(andwhat snot).Researchshowspeoplewhowork60 hoursaweekormoredon taccomplish time,therefore,istimeemployeescan use tobreatheand flatter andmoreteam-based,therewillalwaysbeindiv idualsinchargewhowillhaveadirectimpacton theworkplaceculture. Toanemployee,aweakmanagerisoften Sohowcanorganizationsensureeffective leadershipfortheirpeople?It simportanttodifferentiatecraftskillsfrom management skills botharecrucial,butthepresenceofonedoesn timplytheother. There snosubstituteforclearandtransparentgoals . Mangersshouldnotonlysetpriorities,butmak esure ,as isfrequentandopencommunication. five-to-one ,aDeloittestudyfoundthatcompanieswitha highrecognitionculture havea31%lowerrateof Becausemanagementisoftenalearnedskill,co mpanies shouldinvestinthedevelopmentofmanagers. Deloitteresearchshowscompanieswithmoread vancedapproachestoleadershipdevelopmento ftenspendtwotothreetimesasmuchonmanagerd evelopmentas competitors,enjoy37%morerevenueperemploy ee, Supportingemployeesalsodependsonagile yearlyreviews,leadingcompaniespromotecon tinual coaching,frequentcheck-ins,anddata-drive n rack andstack andemployee stick-in-the-eye !

7 6 Isyourorganizationsimplyirresistible?|Cr eatinganorganizationpeoplewillclamortowo rkforandhatetoleavePositiveworkenvironme ntGiventhefast-paced,fluidnatureofwork today,ifleaderswanttheirpeopletobe trulyengagedatwork,theyshouldoffera flexible,humane,andinclusiveworkplace. Mostemployeestodayhavecomplicated lives;offeringanabilitytoflexandshape theirworkisamajorattractor. Aworkplacecan taspiretobe irresistible ifitisn t they dprefermorefreetimeovermoremoney,and80% A seeingemployeesaswholepersons,with lives,andfamilies,and tgoso farasprovidingagymand in-housepool,orabowling tallworkforthesetypesofcompanies,but food,celebrations,internet-enabledcommut ingshuttles, and even on-sitelaundry/dry-cleaningserviceshave becomecommonplaceinhigh-performingcompan ies just perks theyareessentialelementsofhelping workfitintoourlives. Recognitionisapowerfulmotivator,notjusti nmonetary,butalsonon-monetaryways,evenif it sas softasa thankyou. Moreover,asniceasitistohear kudosfromthetop,peer-to-peerrecognitionc anfree managersfrombeingthe gatekeepers ofpraise.

8 Ofcourse,aworkplaceshouldalsobefair,incl usive, tanHRstrategy,it sabusiness strategy teamswithininclusiveculturesoutperform othersby80%.11 Inshort,peopletendtoperformbetter whenthey ,thecommentmademostoftenis, Ididn t seetherightopportunitieshere. Everyonewantstogrowandadvance, andforpeopleunder25,professional developmentisthenumber-oneengagementdriv er(andit sthe#2priorityforpeopleunder35).12 waystoaddskills,takeonchallenging assignments,andfindhelpwhenit supportemployeesmakingthoseconnectionsis crucial. Peoplewhogrowneedaplacetogo,whichiswhy talways opportunities,givingpeoplethefreedomtotr ysomething newandmovefromarolewheretheyarehighly productivetoonewheretheymaybeatraineeaga in. Organizationswithacultureofself-directed ,dynamic learninghave30%to50%betterretentionrates aswellas52%moreproductivityanda56%greate r Peoplealsolookforahigh-impactlearningcul ture andproblem-solvingcanleadnotonlytohigher engagement, embeddedintheculture, | wediscussedtheimportanceofcultivatingand trainingmanagers(wholaterbecomeleaders).

9 :wemeasuresuccessherebythetrustpeoplepla ceintheirleaders. organizationsdefinetheirsuccessthroughth eeyesoftheir customers,stakeholders,andoursociety,peo plecomealive. Companiesthattelltheirstoryandcreateacle arsenseofmissionandpurposeaccomplish30%m oreinnovationandenjoy40%higher Companieswhoseleadersdemonstratecontinuo usinvestmentin people,alsohavehighratiosoflearningandde velopmentspending peremployee andthesecompaniesregularlyoutperformthei r peersinretention,innovation,customerserv ice,andprofitability. Actingwithtransparencycanbechallengingfo rsomeleaders , however,it isgoingtoseethelightofday;thequestionisw hetherornotyou ll beopenaboutit. words,thenarrativetheyshape,andtheircons istentactions,it sthe topexecutivesofanorganizationwhoshapeour senseofbeingpart thefuture,telltheirpersonalstory,andshar ethecompany svisionandwhatitmeansforeachemployee,wha titmeanspersonally. highlyengaged, and26%are activelydisengaged. 14 Whatdoyour employeessayaboutyour company?

10 8 Isyourorganizationsimplyirresistible?| irresistible TakingthenextstepTheSimplyIrresistibleOr ganization modelisadirectplanofaction eitherthroughyourcompany sowneffortsorwiththe day-to-dayexperience,with eachelementservingasayardsticktomeasurep resent-dayefforts,identifymissinginitiat ives,andprovideaforward-looking ,takinga simplyirresistible approachcanhelpstrengthenandexpanduponot herbusiness ,however, seasytosayyouwantpeopletofeelgood smuchmoredifficulttorelinquishlong-heldv iewpoints( customers notemployees mattermost ) andre-wiredeeplyentrenched,yetoutdatedpr actices( it stimeforourannual92-questionengagementsu rvey ).Bebold,be ,becauseemployeeengagementissuchaclearpr edictorofbusinessperformance,castingyour employeesasthestars doesn tturningawayfrombettercustomerservice,hi gherprofits,orhappiershareholders. Rather,you refindingamoreinnovativewaytoachieveallt hesethings,andthecriticalelement yourpeople hasbeenright |Creatinganorganizationpeoplewillclamort oworkforandhatetoleaveLet stalkGettingstartedcouldbeginwithaconver sation,aleadership workshop,aLabinapurpose-builtdesignspace , oranEmployeeEngagementsurveytomeasureyou remployees takeonyourcompany slevelof irresistibility.