For decades, businesses have operated under the precept that strong leadership can navigate any changing tide. However, according to Deloitte’s 2015 Global Human Capital Trends survey, the rapidly evolving dynamic between employers and employees can stress even the most capable leaders if organizations don’t rethink how they manage, evaluate, and reward their people. While building strong leadership remains paramount to every business, this year’s findings show that “culture and engagement was rated the most important issue overall” for corporate groups and employees alike. Not only that, the study shows that a significant gap exists between the importance of this issue and the readiness and ability of most company’s to address it.
The survey illustrates how “today’s employees are more like customers or partners than subordinates. Websites like Glassdoor, LinkedIn, Facebook, and others not only increase transparency about a company’s workplace; they make it far easier for employees to learn about new job opportunities and gain intelligence about company cultures.” This is further compounded by the fact that almost half of today’s workforce is made up of a vastly different millennial generation who, as stated in a Forbes article written by Katherine Reynolds Lewis earlier this year, “yearn to work for managers who treat them fairly and respectfully, to form positive connections with colleagues and feel proud of what they do and its impact on the world.”
Although many companies are revamping their entire strategy on employee engagement, the average business can make huge strides just by instilling these two key concepts into their core ideologies.