People have always been the foundation of every organization, but today expectations have changed, participation around work has diminished and the available workforce related to the number of jobs is inverted. This is particularly true for front line workers.
Perhaps no challenge is greater for organizations across industries than the disruption happening in today’s workforce.
From the pandemic-related reset in the way people view and participate in work to the on-going work-from-home debate, to upward pressure on wages to high levels of team member turnover and workforce shortages, the fact is, the conversation relative to our workforces has changed fundamentally.
People have always been the foundation of every organization, but today expectations have changed, participation around work has diminished and the available workforce related to the number of jobs is inverted. This is particularly true for front line workers.
Our data shows:
• 44% if team members believe that their companies do not make organizational decisions with their interests in mind.
• 54% of the workforce feel their company is not loyal or committed to their well-being.
• 45% of the workforce report that they are either declining or just surviving.
• 35% of the workforce say they are not fully engaged in their work.
Moreover, today there are only 2 available workers for every 3 jobs and demographics of the American workforce show that we are heading fora workforce “cliff” with 72 million people reaching retirement age or older in just 6 years.
Given these trends, we need to fundamentally change the way we think and act. What is called for is a strategic and structural change in how we approach attracting, recruiting, training and retaining talent.
Most companies understand that people are their most important asset. Yet, it is clear that we have arrived at a time when our most "valuable” assets are under extreme stress.
The result is rapidly escalating costs, high turnover, service model disruption, poor customer experience lower productivity and greater organizational stress.
There is, of course, a solution. Our research tells us that when provided with dignity, trust, meaningful work and a path for growth workforces move from declining/just surviving to thriving. And a thriving workforce that is focused and participative in the work leads to organizations that are stronger, i.e., they grow faster and are more productive.
The choice is clear. Organizations that re-focus on the foundational environment they create for their workforces will successfully navigate the turmoil being created by today’s workforce dynamics and those that don’t will be subject to its challenges for years to come. Learn more by downloading the Compensation and Workplace Stability white paper.
About the Author:
Robert Martichenko is a business leader and Chair of TrailPath Workplace Solutions. Prior to co-founding TWS, Robert spent over fifteen years as the founder and CEO of the LeanCor Supply Chain Group. Robert sits on multiple advisory boards, including the executive board for the Association for Manufacturing Excellence (AME) and Chair for the American Logistics Aid Network (ALAN). Robert is an active member of the business community, he is passionate about the people side of lean, enterprise excellence, the future of workforce development, and creating meaningful employment environments focused on providing people with dignity, trust and meaningful work.
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