Signium’s recent research report identifies crucial risks encountered by business leaders and highlights practical ways to effectively navigate them. Here we present some key recommendations that are worth considering when addressing three critical areas of employee engagement risk.
“Leaders will need lots of lateral and disruptive thinking to find unobvious answers because what’s been done before will not necessarily work in the future. There is a huge opportunity; it is not only the best, but rather the most collaborative people and companies that will succeed.”Joana Proença de Carvalho, Senior Partner at Signium Portugal and Leadership Consulting Practice Group Leader.
Studies show that the last three years have brought the biggest workplace shift since the industrial revolution, as pandemic lockdowns put hybrid and remote work options in place for many.
With some corporate leaders wanting staff back in the office whilst others are convinced of the benefits of working from home (WFH), both sides presented reasonable arguments to a jury of their global peers.
A recent article in the tech publication IT-OnlineSA headlines with “The verdict is in – and hybrid working wins”, noting the findings of research that, overall, employees prefer and perform best where they are offered hybrid, flexible work solutions.
This has prompted the creation of guidelines for all aspects of WFM, ensuring an engaged and productive workforce within the parameters of a fair and legal business infrastructure.
“Technology advancement has become so huge and rapid that the rest of the legacy infrastructure has difficulty catching up. Policies, rules, and regulations, for example, tax legislation, are outdated. There is also a lack of coordination and uniformity between and across countries. Artificial intelligence and ChatGPT is the best example right now: how do we regulate its usage; or self-driving cars – in case of an accident, who is at fault?”Sunny Yi, Managing Partner at Arthur D. Little, Korea
Whether remote staff members are using their own devices or those of the company, cybersecurity must be part of the hybrid/WFM policies your company creates to ensure clarity between management and staff.
Not only will hybrid work policies help to foster better employee retention and engagement, when they incorporate legal and ethical expectations, all parties are able to adapt more easily to their new framework which often enhances performance and productivity.
“We are looking into company culture in a way that has never been done before. Companies are emphasising their corporate culture, values, and how they want to be perceived in the market. Employees deliver better results and adapt faster to change if they feel that their values converge with those of their organisation.”Giovana Cervi – Global Head of Financial Services Practice, Managing Partner Signium Brazil.
A performance-based culture is not only about the company’s bottom line, but also employee progression. It promotes experimentation and innovation that can increase organizational agility and encourage the adoption of change.
Input (and buy-in) from the entire C-Suite is vital to the success of any company’s culture shift to one that values ethics and efforts at every level.
A positive work culture embedded in the company ethos promotes productivity, engagement and improved employee experience, leading to increased overall work output and a higher staff retention rate.
By implementing the suggestions listed above and changing tack as required, companies attract a workforce – remote or in office – that wants to be a part of some bigger purpose and its success. This is the best any firm can do, for their employees and their own reputation.
The full report is available here:
Signium recently published a comprehensive research report that identifies the key risks faced by business leaders today and highlights practical ways to navigate through turbulent times. The report engages seasoned business executives and partners across Signium’s global network to gather views of what lies ahead and how leaders can futureproof their businesses.