C-suite doesn’t understand attraction and retention has changed

A report shows that 56% of HR leaders say the C-suite doesn’t understand attraction and retention has changed. According to 2022 Culture Report on Technology-Driven Employee Experience from Achievers Workforce Institute, the research and analytics arm of Achievers, an industry-leading employee experience software platform.

Employees want flexibility

According to the research, the main reason for changing jobs during the pandemic was better work flexibility, outpacing both career progression and compensation. Most employees (85%) who have the option would like to work remotely or in hybrid mode. However, two-thirds say business leaders expect them to be in the office at least part-time, and 46% of remote workers are worried about missing out on career opportunities.

Remote employees are just as likely to report being productive as those in the office and respondents shared that they are more engaged and more likely to stand up for their business. Additionally, employees who are happy with their remote or hybrid work options are more likely to say they trust their company’s leaders. Employees are no longer willing to compromise on work flexibility, and companies with a drastic return-to-work policy will lose top talent.

Resisting the new world of work

Unfortunately, more than half (56%) of HR leaders say the C-suite doesn’t understand that the world of work has changed. HR leaders (45%) say they don’t get the support they need from management to implement policies to attract, engage and retain top talent. However, at companies where HR managers say the C-suite supports remote working, they’re less likely to say they struggle to attract and retain. This demonstrates the clear and direct link between remote work and recruiting top talent as employees continue to advocate for their work preferences.

“A major concern for business leaders is fostering a culture of connection and belonging in a dispersed workforce,” says Natalie Baumgartner, chief workforce scientist at Achievers Workforce Institute. “We know that a strong sense of belonging drives 3x return on a wide range of business outcomes. Many leaders believe that to achieve the desired culture, employees must be in the same physical space. However, the world of work has changed and so has our approach to creating a sense of belonging for employees. Employees are highly focused on an experience of connection and belonging, but believe they can achieve this by working from anywhere.

Four connection and membership tools

The AWI study identifies four types of technology that can foster the culture that employees and business leaders seek.

Network
Employees in organizations with connection tools outperform the average in factors such as engagement, belonging, trust and productivity. Indeed, 42% of respondents say that connection tools would increase their sense of connection and belonging, but only 27% say their company gives them access.

Acknowledgement
Meaningful recognition drives every pillar of belonging and is crucial for employees to feel seen and valued. Currently, only 29% of employees say that their company provides access to a recognition platform. Employees with a recognition platform are more likely to say they feel recognized in a meaningful way, leading to higher employee satisfaction and retention.

The well-being
Burnout is a real and serious issue facing workers, with 43% of employees reporting being somewhat or very burnt out. However, employees whose organizations provide wellness tools are less likely to be extremely burnt out.

Feedback
Collecting and acting on feedback drives strong business results with a 3x increase in engagement, belonging, trust, engagement, and more. Currently, only 14% of employees say their organization takes meaningful action based on employee feedback.

“Business leaders must accept what HR professionals already know: organizations must adapt to the new world of work if they are to attract, engage and retain top talent,” says Dr. Baumgartner. “In a dispersed workforce, technology is an essential tool for building connections and belonging. Investing in the right technology at the right time is key to success in this new era of work.

* Directors

Keith P. Plain