The World-class Workplace event brought together industry leaders and passionate HR professionals to discuss the latest trends and best practices in employee wellbeing and organizational success. A standout moment was the knowledge session led by Effectory’s People Strategy Consultants, focusing on the key components of Employership, including Employee Wellbeing, Diversity, Inclusion, and ESG. In this blog post, we’ll dive deeper into these critical topics and explore the exclusive DE&I session our consultants offer to help organizations foster a more diverse, inclusive, and thriving workplace.
Strengthening Employership: Effectory's World-class Workplace Event
Employership – Why now? Navigating the Post-COVID Business Landscape
In Europe, high turnover is a major concern for HR professionals and C-suite executives, with 99% of organizations grappling with various talent challenges – including workforce diversity and an increase in “quiet quitting.” This trend is underscored by the latest statistics, with only 63% of employees feeling energized at work in 2022, down from 74% in 2019. That’s a relatively steep decline for a time when working conditions should actually be getting better, not worse (Mercer, 2023).
As a result, improving the employee experience has become the top HR priority in 2023 (Mercer, 2023).
What is Employership?
Employership is the overarching concept that encompasses all aspects of being a good employer. It refers to the efforts an organization makes to create a positive and supportive work culture, where employees feel valued, inspired, and fully engaged. At the heart of Employership is the commitment to understanding and addressing the diverse needs of your workforce, fostering a sense of belonging, and promoting a shared sense of purpose.
The relationship between employership and employeeship – Effectory
What makes a good employer?
The qualities that make a great employer go beyond offering competitive salaries and benefits; they include strong leadership, effective communication, and a genuine commitment to employee well-being and development. If employees perceive any of these themes to be lacking, it will increase turnover and your employees’ desire to leave the organization.
Inspiring Vision of the Future and Great Leadership
An inspiring vision of the future motivates employees to believe in the organization’s purpose and strive for collective success. Effective leadership is a vital component of this vision. Good employers foster an environment where leaders are approachable, transparent, and supportive, empowering employees to grow and develop their skills. Strong leadership also includes clear communication of organizational goals, providing employees with the guidance and resources they need to excel in their roles.
Our data shows that high scoring leadership corresponds with a 32% increase in employee engagement (Source: Effectory).
The Impact of Good Hybrid Leadership on Organizational Success – Effectory
The Four Pillars of Employership
C-suite executives have recognized the pandemic’s role in highlighting the importance of employee health and well-being. In fact, 36% of them believe that investments in employee health have yielded measurable returns. In addition, 41% of executives have recognized that the pandemic has required a complete reset around work, the workforce and the workplace. These changes have led to a greater focus on flexible work arrangements, employee well-being, and overall work-life balance (Mercer, 2023).
1. Environmental, Social and Governance
As we think about the future of Employership, it’s impossible to ignore the growing importance of ESG – environmental, social and governance – in corporate strategy.
Increasingly, companies are recognizing the importance of their social impact and seeking to incorporate it as a guiding principle in their decision-making processes. Authenticity has emerged as a key contributor to a sense of purpose, which is now a top priority for employees.
The social aspect of ESG has significant implications for both employee perceptions and workplace practices. Amid the ongoing emphasis on well-being, companies are striving to create healthy and energizing work environments. This focus has only intensified in light of the COVID-19 pandemic, as companies grapple with new ways to ensure the physical and mental well-being of their employees while maintaining productivity and organizational integrity.
In summary, ESG is poised to play a central role in the future of Employership, shaping the way organizations approach their social responsibility and employee well-being.
2. Equality
Equality, or fairness in the workplace, is a crucial aspect of Employership. It involves providing equal opportunities for growth and development, treating all employees fairly, and ensuring transparent decision-making processes. By promoting equality companies can create a sense of belonging, retain top talent, and maintain a positive employer brand.
Level up on gender equality: give your employees a voice – Effectory
3. Diversity & Inclusion
Diversity is about recognizing and appreciating the unique backgrounds, skills, and perspectives each employee brings to the table. A diverse workforce fosters creativity, innovation, and adaptability, enabling organizations to thrive in a constantly changing world.
Promoting diversity and inclusion in your organization – Effectory
As we look to the future, it’s clear that Millennials and Generation Z place a high value on employers who actively invest in promoting inclusion and social responsibility. Driven by their values and a desire to make a positive impact, these younger generations are drawn to organizations that prioritize diversity and equal opportunity. In our own work, we see that fostering an inclusive work environment have up to 50% more loyal and engaged employees. This increased sense of loyalty and engagement not only boosts employee satisfaction and retention, but also improves innovation, collaboration, and overall performance.
DE&I Session: Book Today!
Our People Strategy Consultants offer a specialized DE&I session, designed to help you create diverse and inclusive workplaces that drive higher employee retention rates. If you’re interested in strengthening your organization’s Employership by enhancing your DE&I initiatives, reach out to your Customer Success Manager and book this transformative session today.
4. Sense-giving
Sense-giving refers to the process of providing employees with a clear purpose, aligning their work with the organization’s mission and values. When employees understand how their contributions make a difference, they are more likely to be engaged, motivated, and committed to the company’s success.
Conclusion
Effectory’s World-class Workplace event provided valuable insights into the key components of Employership. By prioritizing Employee Wellbeing, Equality, Diversity, Inclusion, and Sense-giving, organizations can create a supportive and inclusive environment that fosters success. Don’t miss the opportunity to leverage our consultants’ expertise and take your DE&I initiatives to the next level. Contact your Customer Success Manager today to book your session!
Sources
Mercer. (2023). Global Talent Trends 2022–2023: Rise of the relatable organization. In www.mercer.com. Retrieved April 19, 2023, from https://www.mercer.com/our-thinking/career/global-talent-hr-trends.html