Investing in Employees: A Key to Thriving in Uncertain Times
Many companies are trying to do more with less. But even as they work with tighter budgets, organizations still want to be able to support employees to boost engagement, increase retention, and promote professional growth. Investing in employees needs to stay top priority, no matter what.What are the most inventive, data-driven and budget-friendly ways to invest in your people, from innovative benefits, recognition, workshops, mentorship, and more? At From Day One’s Miami conference, a panel of leaders spoke about “Investing in Employees: A Key to Thriving in Uncertain Times,” in a session moderated by Paul Bomberger, independent journalist and former business editor at the Miami Herald.Managing Employee WorkloadTraditional ways of thinking about workload, says Ernest Paskey, practice leader, North America at Aon, are rooted in the industrial age, when physical output was key. For knowledge and service organizations, “We have to rethink what is true productivity. Is it the number of hours sitting at a desk? Is it the number of widgets [produced], or is it something different?” Paskey said.Making sure employees understand the “why” behind their work is essential to driving satisfaction and performance. “It’s important that we bring our frontline leaders along the journey of really understanding what the strategy and vision is of the company, and not just focusing on all of the activities,” said Elizabeth Wixted, global head of talent management & DEI for CSL Behring. This also means no busy work—only give assignments that are essential to the mission. “You need to be mindful of the work you’re putting on both yourselves and your teams. Clarity is kindness.”Executive panelists spoke about "Investing in Employees: A Key to Thriving in Uncertain Times"Technological advances that can minimize workload and increase productivity should be embraced, not feared, says Loren Blandon, global head of careers and organizational development at VML. “With generative AI, there are so many things that can be done in seconds that used to take us weeks,” she said.Paskey notes that post-pandemic returns to office are not quite reaching the proper balances yet, with employees spending most of their time on calls and Zoom meetings that could have been done from home, leading to feelings of stress and dissatisfaction. “What will bring them in? It’s [social] time, it’s happy hour, it’s lunch, it’s coffee breaks,” he said. “We need that collaboration and downtime to think through the chaos of our day.” Some panelists suggested using food and organized social gatherings as an incentive to come in, while other panelists said that the opportunity to work remotely can be used as a reward for high-performing employees.Supporting Career DevelopmentCareer development opportunities should come from within, says Dana Moore, VP, HR, people & culture, luxury & lifestyle Americas, IHG Hotels & Resorts, who cites IHG’s mentorship program as one of the central ways the organization invests in its employees. “We have something called a RISE program to put women in leadership, which catapults them through a general manager role, [and] teaches them how to be well-rounded in a general manager position. And we also have a mentorship program just within our discipline [of HR] for new mentees to come in who are looking to excel in their role,” Moore said. “It’s important to have someone to tell you which way you can go, and the things you need to learn to excel.”It’s also important to recognize that not all employees are looking to ascend the ranks, especially in these post-pandemic times when people are less interested in linear or traditional paths. “A lot of folks are no longer looking to their jobs for fulfillment,” said Blandon. But that’s not to say organizations should not still invest in their growth. Even as organizations are “flattening” with fewer managers, Blandon says, employees are still interested in salary increases, building skills, and having interesting, fun, and meaningful experiences.Organizations should respect such employees, says Moore, “because that is the foundation of your company. Those are the irreplaceable employees. They know all the processes, all the procedures. They have the most valuable knowledge that can’t be bought. We owe them some interest and some investment into making sure that they do stay in that role, because they are the ones who build us up and take care of us as we’re going up, hiring managers, and creating new directors.”Bomberger notes the challenging dichotomy of supporting younger generations who value work/life balance over leadership growth, while still ensuring that your organization is primed for evolution and a transition of power. “We have to be really clear in our organizations, in our company, what is ultimately the value proposition, and what do people come here to gain in terms of their career?” Blandon said. “You may be in an industry where you’re like, ‘Don’t come here for balance because it’s super competitive in a really innovative space and we move quickly.’ We have to be clear on what the true, authentic culture is and let folks opt in or out on whether that fits their life or expectations.” That clarity, Wixted says, should start in the job interview—understanding expectations from both sides and how they can or cannot be met.Building Workplace Culture for the FutureUltimately, leaders should set the tone for office culture, be it work/life balance or a return to office. “It’s so important, especially when you think about changing behavior, you have to have the right leadership and sponsorship that’s going to express, model, and reinforce the right behavior. If they’re not expressing or modeling the right behavior, you’re not going to get the outcome that you’re desiring,” said Stacey Finnegan, AVP, people advisory services, Genpact.Going forward, Moore says, “we’re always going to have to be malleable” and ready to respond to the demands and trends of workers. “If you aren’t able to provide what works for them, then they're going to look other places.” This includes developing attractive rewards programs and comprehensive benefits packages that incorporate women’s health, fertility, and family leave options that incorporate multiple generations and lifestyles.In this vein, we all must recognize that the world is constantly evolving. “We’re talking about the key to thriving in uncertain times, and I have to say, when has it ever been certain times? And will it ever be certain times again?” Finnegan said. “I think disruption is the new norm, and we need to embrace the disruption, whether it’s new generations coming into the workforce, whether it’s technology… We’re going to be dealing with this going forward, and all the ambiguity that it brings with it.”Katie Chambers is a freelance writer and award-winning communications executive with a lifelong commitment to supporting artists and advocating for inclusion. Her work has been seen in HuffPost and several printed essay collections, among others, and she has appeared on Cheddar News, iWomanTV, On New Jersey, and CBS New York.