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Reducing talent risk through workplace dignity

Cultures of dignity translate to gains on key talent metrics, including employee wellbeing, retention, DEI, and an innovative and collaborative work environment

By | www.willistowerswatson.com | John M. Bremen

Employers are facing daunting challenges in attracting and retaining talent that they expect will continue through 2022. According to a recent survey, 73% of organizations have difficulty attracting employees, up from 26% last year. Similarly, 61% struggle to retain talent, up from 15% last year.

To increase retention, 71% of employers reported they have taken a broader focus on diversity, equity and inclusion (DEI). Similarly, 70% have increased workplace flexibility and 65% tuition reimbursement. These data highlight a common theme for leadership behaviors that create dignity atin and from work.

During the disruption of 2020 and 2021, investors, boards and senior leadership teams have learned that organizational resilience provides a new form of competitive advantage. In general, organization resilience is defined as having the capacity to recover quickly from difficulties and displaying toughness. Underlying support systems drive resilience in the name of sustainable performance and risk management.

Culture is a key element in driving resilience. According to Willis Towers Watson research, cultures of dignity translate to bottom-line gains on key talent metrics, including employee wellbeing, the ability to attract and retain talent, and DEI, as well as creating an innovative and more collaborative work environment. Further, companies that say they have a culture of dignity tend to have higher Net Promoter Scores — that is, their leaders and employees are more likely to recommend their company as a place to work based on its company culture.

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Source
www.willistowerswatson.com
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