As companies have adjusted after the first wave of the pandemic, they are taking stock of some new realities in the workforce. On one hand, many companies found that their business and their employees are resilient; They adopted new technologies and got work done. Some were even more productive.
On the other hand, there has been a wave of resignations – some due to the stagnant job market during the height of the pandemic, but some movement has been caused by workers searching for and demanding better jobs or better work conditions.
The first is, that to move forward in our ever-changing world, businesses and individuals must not only adapt to the present situation but become robustly adaptable. This means being prepared to adapt at pace with the continual change in the markets and in the world. The real challenge, as outlined in this McKinsey report, is that it can be most difficult to change when change is needed the most. The so-called adaptability paradox refers to the tendency of many people and organisations to resist change and revert to what they know best when external circumstances seem out of control. But change is needed most at these times.
The second factor that companies must consider and adapt to is the increasing importance of job satisfaction. Working from home seems to have caused some employees to reevaluate their fulfillment from the job. In the face of a global pandemic, some are asking if they want to continue in their role.
The good news is that there is some overlap between these two concerns. Many employees want to continue to develop their skills and become more adaptable. A ‘growth mindset’ that encourages learning and does not stigmatise failure is healthy both for the individual and for the firm. While it may not ensure that every decision is perfect, it makes objective analysis and course correction easier and faster.
Deloitte has identified purpose, potential and perspective as the keys to worker satisfaction. Workers want to find meaning in their contributions and they want to know that what they are doing is helping the company achieve its goals. Employees want to grow their potential by doing challenging work and by expanding their skills. Workers want their job and their organisation to have a long-term perspective that reaches beyond the next deadline or the next quarter. They want to help achieve sustainable value. Attending to the 3 Ps here will ultimately support another P, productivity as workers feel energised and motivated over the long term.
From their survey across the European workforce, concerns about career prospects and diminishing pay, candidates are concerned about socially-oriented factors of work such as a lack of trust among colleagues and a diminished collaborative and learning environment.
The last year and a half has shown that business can depend on their employees and technology to get things done, but it does not mean that they should rely on these work from home capabilities indefinitely.
While many workers want to work remotely at least some of the time, but many will become burnt out from endless video conferences. They are at risk of becoming disconnected from their co-workers and the overall company mission. They might also fear being watched.
Furthermore, the concept of ‘work-life’ balance needs continual updating. In an age of ever-present technology, there is no natural distinction between office hours and off hours. Emoployees need their job to be integrated into their lives in a way that makes sense. They want flexibility to manage their hours and the ability to set boundaries when they are not available. Organisational leaders must not only preach this concept, but they must practice it. Companies that reward workers for being available 24 hours a day and who never take a time off will, themselves, be ‘rewarded’ with tired, over-stressed, burnt-out workers and higher turnover.
Despite the rapid pace of change in the world, what endures are the fundamentals of meaningful work: challenging tasks that encourage growth, reasonable job security and support, connection to others, connection to a larger purpose, recognition for one’s contributions, and time away to recharge. In the light of the pandemic, for many workers, these values have shifted from ‘nice to haves’ to ‘non-negotiables.’
Human needs are relatively stable. Finding ways to enable and support them is where the organisation must be adaptable and consider what they are asking of the employee not just in the short-term, but in terms of their long-term well-being. Furthermore, to recruit the most talented workers, they must demonstrate their commitment to their employee well-being.
Companies that support well-being and adaptability will succeed at achieving organisational and employees’ personal goals. But they need to prove it every day.
