The many challenges of talent management in keeping employees engaged are helping to define the future of work. Every organisation is struggling to meet its demand for experts with new skills, which is exacerbated by high attrition rates and a competitive job market.
CHROs and the organisations they lead are looking to upskill talent in order to build the expertise they require. Add to that the challenges of getting internal mobility right, giving employees chances to learn and grow, coaching managers to be champions of talent, and reducing bias in hiring decisions, and it’s easy to see that the challenges of the future of work will only get bigger.
Interviews and presentations at the Eightfold Cultivate 22 Summit showed that using AI to solve these problems in a data-driven way works.
A company with deep expertise in AI has launched Laddrr, a resource hub for planning and managing both children and thriving careers. Laddr’s goal is to help 10 million moms advance in their careers around the world. Ashutosh Garg, co-founder and CEO of Eightfold AI, and Kirthiga Reddy, president of Athena SPAC, are the minds behind this social impact initiative.
Why artificial intelligence is the future of talent management
It is critical to the future of work and talent management to assist employees in identifying their innate capabilities and skills and then provide them with personalised skill plans. Employees understand that their abilities and skills define their careers, not their current job position or the company for which they work. The ability and willingness of an employee to learn and relearn define the future of work today. They want to work for companies that will invest in their growth, give them chances to do well, and make more money as their careers progress.
The future of work is now balanced in favour of self-sufficient, always-learning employees who can chart their own career paths based on their abilities and skills. They are no longer reliant on a company for a job. This is a daunting challenge for talent management and HR professionals. External rewards, such as larger offices, more perks in the office, and higher pay, are less important than personal growth and autonomy. AI and talent intelligence platforms are making a difference in this area. Talent intelligence platforms are used by HR and talent management professionals to do a wide range of talent management tasks.
The HR community must view talent management as a data-centric strategy, from upskilling and reskilling their employees to providing personalised career plans; creating talent marketplaces that guide workers to the next best position for them; and using AI to improve diversity, equity, and inclusion (DEI) and hire contingent workforces quickly. AI has evolved into one of the core technologies and techniques required to meet these challenges. It is a decision or an enabler that helps experienced HR professionals make their final decisions.
Talent intelligence platforms provide AI-assisted insights from the many talent management tasks they assist in improving, and they are responsible for providing transparent, clear definitions of how their algorithms are used. It’s good to see that laws are being made that explain how AI techniques are used to interpret and analyse personal data.
However, more research is needed to detect bias in data, and AI models and ethical practices must be defined and implemented to protect workers’ privacy. Having ethical guardrails in place will help ensure that workers with exceptional capacities and skills, regardless of race, gender, religion, or any other personal attribute, are not denied opportunities to excel in their lives and careers. The way forward is to reduce bias by using AI to find the best connections between career paths and skills.
Entrepreneurs are born or bred. It was probably more nature than nurture for me. I wasn’t raised in an entrepreneurial environment. My grandfather was a custodian, and my mother was a housekeeper. I suppose that could be considered her own business. But I didn’t see my parents doing typical startup activities like discussing finances at the dinner table, reading income statements, or managing employees.
Entrepreneurs, by nature, are problem solvers. They walk around seeing problems in the world and thinking to themselves, “Wouldn’t it be cool if…?”
As a child, for example, I was at baseball practice. Following that, I noticed a long line at the snack hut. The majority of the other children were eating and conversing with their peers. But in the back of my mind, I was wondering how I could create a better system. The pizza was mediocre at best, but the location was ideal. They had kids spending $6 on a slice of pizza every two minutes. In my head, I did the math. That was one of my “aha” moments when I realised I wanted to start my own business.
I went to Costco with my grandparents another time. I saw Juicy Fruit gum packages with 25 cents printed on each individual package. However, if you purchased them in bulk, you could get them for 12 cents per package. It was a no-brainer for me. I didn’t even need to mark up the 25 cents to make nearly a 50% profit. That’s just how my mind works.
Your surroundings can influence a naturally entrepreneurial mindset.
My path to entrepreneurship also included some nurturing. My surroundings influenced my natural instinct. We didn’t have much extra cash. I’d have to wait until Christmas to get big gifts like a bicycle. If I wanted that bike sooner, I knew I had to work for it.
So it was a combination of need and mindset for me. That was the starting point for my entrepreneurial journey.
Future entrepreneurs can be nurtured by entrepreneurial families.
Then there are those who are born into a family of entrepreneurs. They witness their parents’ long hours of hard work. From a young age, they may be involved in the family business. They are taught to be self-sufficient. They witness the financial ups and downs that can occur early in the business. This can have a positive or negative impact on their decision to start their own business. In the end, I believe you still need an entrepreneurial mindset to capitalise on the lessons you’ve learned from your entrepreneurial parents.
Troy Hoffman, a colleague and fellow entrepreneur, had a more cultivated entrepreneurial experience. He remembers a teacher who kept stacks of Entrepreneur magazines in the back of the classroom. The teacher was ecstatic about starting a business. Hoffman was also motivated by his parents and a family friend who ran a successful surf shop. Seeing them build successful businesses inspired him to launch his own.
Even if you are not an entrepreneur yourself, you can help your children develop an entrepreneurial spirit.
Consider thinking outside the box.
Reward innovative thinking. In general, our educational system teaches us to do things the way they have always been done. Encourage your children to come up with original solutions to real-world problems. If there isn’t a clear solution, assist them in developing one.
Failure is a learning experience—there is no risk and no reward.
We have a no-blame culture in my company. This, I believe, enables people to work creatively without fear of making mistakes. Entrepreneurs understand that making mistakes is a necessary part of the learning process. Make sure your children understand that making mistakes is necessary for learning and growing. Certain risks must be taken by entrepreneurs. Calculating the risk-reward of your actions is a skill that will come in handy even if you never become an entrepreneur.
Test your elevator pitch.
If your children ask for something, tell them you’ll think about it if they come up with a good pitch and a solid business plan. even if it’s just a puppy request. Allow them to go through the process of analysing their options, calculating the cost, and deciding on the best way to obtain financing. Entrepreneurs solve complex problems and persuade others to believe in their vision.
Is your child born with an entrepreneurial spirit? If so, allow them to explore that side of themselves. It’s the classic lemonade stand scenario.
If not, try some of the tools I’ve listed to get them started on the path to entrepreneurship. Even if they do not go on to found unicorn startups, their learning skills will help them succeed in their future endeavours.
Americans estimate that they will require $1.1 million to retire comfortably. Unfortunately, only about one in every four people will have enough money to do so.
According to the 2022 Schroders US Retirement Survey, 22% of people approaching retirement believe they will have enough money to live comfortably. This is a decrease from the previous year’s figure of 26%.
Americans have a general expectation that their retirement savings will be insufficient. In fact, the majority (56%) expect less than $500,000 saved by the time they retire, while 36% expect less than $250,000.
Unsurprisingly, American workers were most concerned about inflation reducing their retirement assets. At least for now, the second most-feared scenario is coming true: 53% of respondents are worried about “a major market downturn that makes assets much less valuable.”
“The list of concerns that retirees and Americans in general have is longer and more serious today,” Joel Schiffman, who oversees Schroders’ defined contribution products in North America, told Bloomberg. “There is this compounding effect with inflation, the stock market, healthcare costs, and taxes.”
People who had already retired stated that they were content or that their circumstances were “not terrible, not good.” However, 18% said their retirement was difficult, and 5% said it was a complete nightmare.
A quarter of respondents said they must sacrifice what they want today in order to afford their “dream retirement,” while another quarter said they simply need to keep going. According to the study, 35% of respondents aged 60 to 67 said they would have to win the lottery to achieve their dreams.
But before you panic, you should answer an important question. What does it mean to live a comfortable retirement lifestyle?
What Is a Comfortable Retirement Lifestyle?
Your mileage will undoubtedly vary. “Comfortable retirees were more likely to have intermediate levels of financial assets (between $99,000 and $320,000) and income,” says the Employee Benefit Research Institute (EBRI).
ERBI was also discovered.
One in every two homeowners was mortgage-free, while 37% had a mortgage.
One-third had no debt, while 42% had a debt that was manageable.
They were probably married with college degrees.
More than half of them plan to grow, keep, or spend a small amount of their money, and almost three-quarters of them think their retirement savings are enough or are more than they need.
They add that “in this group, more retirees cited workplace retirement savings plans such as 401(k) plans and individual retirement accounts (IRAs) as their primary source of income, in addition to Social Security, than any other group.” Credit card and auto loan debt are the most common types of debt, with one in every three people having at least one of each.
According to ERBI, “half of the retirees in this group spend less than $3,000 per month, while the majority said they can afford their current level of spending.” “Most retirees believe their standard of living has not changed since their working years; however, one in four believes it has declined.”
In terms of retirement happiness, the retired comfortably were just behind the affluent retirees on average.
Before getting too caught up in the numbers, a key question to consider when planning for retirement is, “What do I want to do when I retire?” After all, putting money aside for retirement without thinking about how you’ll use it can leave you unprepared for your golden years.
According to the Social Security Administration, men can expect to live for more than 18 years and women for more than 20. As a result, you must ensure that you are satisfied with how you spend that much time. If you’re stuck, think about the things in life that are important to you. Friends and family, socialising, travel, hobbies, and so on are all examples.
To begin, answer the following questions: When you do, you should be able to determine your retirement priorities.
Are there any health issues that will have an impact on your retirement lifestyle?
How important is the quality of healthcare where you live to you?
Do you intend to remain in your current residence?
Do you want to be close to your family or friends?
Do you want to relocate to another state?
Do you think it’s important to live somewhere with lower taxes?
Is it your ambition to retire abroad?
Do you want to live in a retirement community?
Do you intend to live in assisted living when you get older?
What kinds of activities do you want to pursue in retirement that you are passionate about?
Do you want to go travelling?
Is it important to you to get involved in charitable causes?
How much money will you require in retirement?
Do you want to stay in the workforce? Part-time or full-time?
Do you want to reinvent your life in retirement?
When you determine your priorities, you will have a better idea of what you should include in your retirement plan. and, more importantly, what it will take to live comfortably in retirement.
It’s not about money; it’s about earnings.
It’s important to remember that determining your retirement “number” is more than just determining how much you need to save, says Robin Hartill, CFP®. Americans, for example, prefer to retire with a million-dollar nest egg. That, however, is an incorrect assumption.
“The most important factor in determining how much money you need to retire is whether you’ll have enough money to create the income you’ll need to support your desired quality of life after you retire,” Hartill adds. Is a $1 million savings account enough to last a lifetime? Possibly.
So, how much money do you really require? It’s certainly not 100 per cent of your pre-retirement income for most retirees. What’s the reason? These costs are unlikely to be an issue.
There will be no need to put money aside for retirement.
You may save money on transportation if you do not commute to work.
Your mortgage may be paid off by the time you retire.
If you have no dependents, you may not require life insurance.
However, retiring on 80% of your annual income isn’t ideal for everyone, says Hartill. Your goal may need to be adjusted depending on the type of retirement lifestyle you intend to have and the range of expenses you anticipate.
If you plan to travel frequently in retirement, aim for 90 per cent to 100 per cent of your pre-retirement income.
If, on the other hand, you intend to pay off your mortgage before retiring or downsizing your living arrangements, you may be able to live comfortably on less than 80 per cent.
“Assume you consider yourself a typical retiree,” she says. You and your spouse have a combined annual income of $120,000. Using the 80 per cent rule, you can expect to require approximately $96,000 in annual income after retiring or $8,000 per month.
Social Security benefits
What’s the good news? If you’re like the majority of people, your Social Security benefits may supplement your savings. In fact, nearly nine out of ten seniors were receiving Social Security benefits at the end of 2020. Furthermore, Social Security benefits account for approximately 30% of an elderly person’s income.
However, for higher-income retirees, Social Security typically replaces a lower percentage of their income. “For example, Fidelity estimates that someone earning $50,000 per year can expect Social Security to replace 35% of their income,” Hartill explains. If a person earns $300,000 per year, the Social Security income replacement rate is only 11%.
In general, Social Security benefits will be less than half of your pre-retirement salary. As a result, you will be responsible for making up the difference.
However, there are still ways to live comfortably on a social security check:
Delay taking advantage of your benefits. Wait until you have reached full retirement age before beginning to collect benefits. If you wait until you are 70 years old, your Social Security benefits will be at their maximum. You can also withdraw your claim if you have already filed it.
Clear your debts. It is best to pay off all debts before retiring, including credit card bills and mortgages, in order to maximise your Social Security benefits. So, instead of using your benefits to buy things you already own, you can use them to buy things you need right now.
Relocate. You can increase your Social Security benefits by lowering your cost of living. If you have the option, consider relocating to a tax-friendly state. Alaska and New Hampshire have no sales or income taxes, whereas Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming have sales taxes but no income or pension taxes.
Prescriptions should not be overpriced. Medications can be quite costly. When possible, choose generic prescriptions over brand-name ones. You may also want to join a prescription drug membership programme at the pharmacy where you purchase your medication to earn rewards and receive discounts.
Take advantage of special offers. When it comes to discounts, only eat at restaurants that offer senior discounts. The same is true for retailers such as Kohls.
Consider Savings, Annuities, and Other Sources of Income.
While it is possible to live comfortably on Social Security alone, I would not put all of my eggs in that basket. In general, Social Security will only replace about 40% of your pre-retirement income. And, if the 80 per cent rule is used as a guideline, that’s only half of your retirement income.
Most people require additional income streams to ensure they can meet their bills and have a life in retirement. And, in most cases, these income streams are
plans for qualified retirement savings.
In the private sector, the most common retirement plans are a 401(k), an IRA, or another type of retirement plan. You put money into the plan throughout your working life. You usually get a tax break if you contribute to a retirement plan or withdraw money after you retire. If you work for yourself, you can set up a Simplified Employee Pension (SEP-IRA) or an Individual 401(k) (k).
portfolio for retirement.
You should have a diversified retirement portfolio in addition to a qualified retirement plan. This typically includes stocks, high-yielding bonds, high-yield savings accounts, and dividend-paying stocks.
An annuity is a contract that you buy from a company that sells insurance or annuities. It can provide a consistent and guaranteed income stream in retirement.
Private pension plans have become increasingly scarce over time. Government employees who still have pensions can count on them as a steady source of income for the rest of their lives.
Pension benefits for veterans
If you meet certain criteria, such as serving during a war, being 65 or older, having a service-connected disability, and having little to no income, you may be eligible for Veterans Pension benefits. It is not the same as your military retirement pension, which is based on the number of years of service.
You might also think about working part-time. Aside from the additional income, it can aid in the smooth transition into retirement. It’s also a surefire way to stay physically and mentally fit.
Some ideas include freelancing, consulting, or babysitting your grandchildren. You could also try your hand at driving for Lyft or Door Dash. Furthermore, you could rent out a spare bedroom to a full-time roommate or list it on Airbnb.
Speak with your licenced financial advisor to learn more about the tax implications of retirement savings or receiving Social Security benefits during retirement. Your financial situation may be jeopardised.
Options for Senior Living
Housing will most likely be your largest retirement expense. Between 2016 and 2020, housing-related costs for Americans 65 and older averaged $1,406.68 per month.
The good news is that there are several ways to reduce your monthly housing costs. When you pay off your mortgage, you will no longer have a large monthly expense. Instead, you’d only have to pay taxes, insurance, and upkeep.
Another option is to downsize to a lower-cost home and take advantage of your home’s equity. If you live in a cheaper neighbourhood, you can also save money on heating, cooling, maintenance, and taxes.
Where you live can have a big impact on your retirement lifestyle, from what activities you can do to who you will socialise with to how much your new lifestyle will cost. With that in mind, consider the following options:
Move to a less expensive state.
Before deciding where to retire in the United States, consider factors such as taxes, cost of living, health care, and other quality of life concerns. However, based on median home cost, Medicare advantage cost, and cost of living index, the following are the 12 cheapest states to retire in:
West Virginia (WV)
SC stands for South Carolina.
New Mexico is a new state.
For active older adults, age-restricted retirement communities frequently offer detached houses as well as townhouses or apartments. Golf courses, organised activities, social calendars, and other amenities may be available in the community.
apartments for the elderly.
Older Americans can benefit from age-restricted apartments, condos, or townhouses that are tailored to their specific needs. The vast majority of them have swimming pools and fitness centres. Medical and dining facilities, on the other hand, are rarely available. When you move into an assisted living complex, you can use the equity in your home to fund travel or other retirement activities.
Living in another country
According to the Social Security Administration, approximately 432,000 retired Americans were receiving Social Security benefits in foreign countries at the end of 2019. Many countries provide retirement benefits to Americans while allowing them to stretch their retirement dollars, such as:
Dominican Republic, Puerto Plata
Belize’s northernmost region
Thailand’s Eastern Coast
George Town, Malaysia
What is the secret? Finding a good balance between finances, finding a place to live that you will enjoy, and understanding the issues that come with being an expat, from health care to tax issues, Furthermore, Medicare typically does not cover health care in a foreign country, so you will still be required to pay income taxes in the states.
Retirement Activities and Hobbies
When you retire, you should be able to concentrate on what makes you happy and fulfilled. You can, however, pursue hobbies and activities that meet both of these objectives while staying within your financial means.
Here are some of the best hobbies and activities to do in your golden years.
Retirement allows you to pursue hobbies that interest you and devote time to them, such as knitting and photography. Also, now is your chance to start a blog or write a book about something that interests you—without having to return to work every day.
Retirement is an excellent time to visit national and state parks, as well as your favourite fishing hole, during the week and avoid the weekend crowds. What’s better? The majority of parks provide senior discounts.
Fitness and health.
Golf courses are very common in retirement communities. Running, swimming, biking, and a variety of other activities are among the many healthy lifestyle options available after retirement. Physical activity is essential for maintaining long-term health. Adults aged 65 and up should engage in at least two and a half hours of moderate—or 75 to 150 minutes of vigorous—physical activity per week.
Because you do not have a limited number of vacation days, travelling around the world may be limited only by your budget. It may be more cost-effective to spread out an RV trip across the country over several weeks. However, flexible travel dates and group tour packages can help to reduce the cost of intercontinental travel. Cruises also offer action-packed adventures at sea with four-day packages that are reasonably priced.
An estimated 42 per cent of retirees volunteer in their communities, according to AARP and Independent Sector, an organisation that partners with nonprofits and foundations. Volunteering is an excellent way to stay active, meet new people, and contribute to your community while feeling fulfilled.
Maintain your education.
You can keep your mind active in retirement by taking classes at your local university or community college. When you are retired, studying a subject that you have always been interested in but have never had the time to investigate is a great idea. Many colleges and universities offer senior citizens reduced tuition rates. Some may even be completely free.
Employee-centric cultures benefit organisations in various ways, from increased productivity and retention to better customer service. Let’s look at the definition and benefits of an employee-centric culture and how to foster one in your organisation.
How to Develop an Employee-Centered Culture
After considering the benefits of employee-centricity, consider how you can implement employee-centric cultural values in your organization:
Employees should be viewed as customers by HR leaders. They have needs and wants that need to be met, like the desire to be heard, get paid fairly, and move up in their careers.
We should shift from a process-oriented mindset to consider how we design processes and workplaces to meet these needs.
As a result, we must use design thinking to take a human-centred approach that focuses on creating meaningful employee experiences, beginning with:
Understanding employees’ needs and pains first allow you to empathise with them.
Moving on to the problem definition,
Brainstorming to identify and choose the best human resource ideas and solutions
Making prototypes to see what works and what doesn’t Here are some examples of companies that have made the employee experience better by using design thinking:
ChRO at IBM Diane Gherson used design thinking to improve her company’s learning and development programmes. She explained that they had gone the “Netflix” route. Individuals build their personalised learning platform with different channels tailored to their role and ‘intelligent recommendations that are constantly updated.’ They are guided in their course selections by a chat advisor and ratings from colleagues who have taken the courses. They also implemented Net Promoter Scores to assess the effectiveness of the training.
Zappos: The company wanted to provide new employees with a fun and memorable experience. New employees spend their first month learning about the company’s history and core values, providing WOW customer service, and forming meaningful bonds within the team through games, activities, and projects. According to corporate trainer Stepanie Hudec, the goal is to establish relationships and ensure new employees feel at ease in their roles.
People can choose work arrangements that allow them to be most productive as more organisations embrace hybrid or remote work. The management team should put money into digital tools that make it easier to work from home or a combination of places.
With this in mind, the digital employee experience (DEX) is becoming an increasingly important part of your overall employee experience: managing projects and workflows (Trello, Asana, Zapier); collaborating and communicating with team members (Zoom, Microsoft Meetings); and accessing HR services like giving feedback (Officevibe), employee rewards (Fond), and so on.
Consider how it contributes to an excellent digital employee experience, whether you’re getting these tools for the first time or updating your current set:
Usability and implementation
Increasing output and efficiency
Software usage standardisation (make sure everyone has access and uses the same tools to communicate with other teams)
The way to get feedback before (during software training) and after (during use) is to find out if tools are useful or if there are better tools.
You must first develop your digital talent to create an employee-centric digital organization. Enrolling in a Digital HR certificate programme that includes a Design Thinking in HR course will give you the knowledge and skills you need to design effective digital solutions and processes for your company.
Furthermore, employee-centric organisations should consider redesigning their physical workplaces to include more meeting and conference rooms to increase collaboration when people come to the office.
3. Obtain and act on feedback
You must solicit feedback from your employees to learn what is and is not working in your organization.
Conducting stay and exit interviews and organising employee focus groups are excellent ways to hear what your employees have to say. Inquire about your organization’s employee experience by asking pertinent questions such as:
How would you describe the employee experience at this company?
What employee experience initiatives do you want our company to implement?
Do you believe the organisation values what you do?
What could the company do to improve the employee experience?
How would you rate your employee experience with our organisation on a scale of 1 to 5 (1 = not at all, 5 = very)?
After you’ve analysed the feedback, it’s time to devise a strategy for how you’ll improve things.
When asking for feedback, it’s important that employees feel like they can say what they think without fear of being punished or made feel stupid.
By promoting mutual respect, leading by example with active listening, and encouraging DEIB, you are making a psychologically safe place for your employees to grow.
Managers, for example, should inform employees that their responses to employee surveys will be kept confidential. If you can, have a survey done by a third-party vendor to make people feel less worried about being identified.
Make a comfortable environment for employees to participate in the conversation. Any allusions to real people should be removed. Your employees should be able to provide and receive feedback in private.
5. Improve your total rewards strategy
Create a total rewards strategy that considers and meets your employees’ diverse needs. Then, determine which elements require your attention.
When it comes to paying and monetary incentives, it would be best if you gave your employees the tools to figure out how much they are worth and compare your offer to industry benchmarks or those of your competitors.
On the other hand, if your employees leave because they don’t have enough chances to learn and grow, your updated total rewards strategy may put more emphasis on employee development and career advancement.
Another possibility is that people resign because they want more work-life balance. Employees will have more time for their personal lives if they can work from home or set their own hours.
According to a recent survey, 58 per cent of Millennials and 52 per cent of Gen Z believe that having a successful career requires frequent upskilling and reskilling. Employees of all ages said they felt more fulfilled, accomplished, and motivated when learning.
It is critical to provide opportunities for your employees to learn and grow.
Implement various L & D initiatives to support this goal, such as peer mentoring, micro-mentoring, formal and informal training, and targeted training.
Of course, this benefits your organisation as well. For example, you will retain top talent and help your organisation become more agile and resilient in the face of unexpected shocks like the global pandemic.
Peter Hirst, senior associate dean of executive education at the MIT Sloan School of Management, says that an organisation with engaged employees will have a culture of continuous learning.
7. Put employee well-being first
When planning to improve employee well-being, you must consider a variety of factors, including:
Physical, mental, emotional, and financial well-being are all important.
Begin by researching initiatives that can be implemented to improve employee well-being. But, again, it is critical to address your employees’ most pressing needs first.
According to author Jacob Morgan in his book The Employee Experience Advantage, forward-thinking organisations understand that part of their responsibility includes looking after and caring for their employees.
He also stated that while employees typically encounter the company’s health and wellness programmes at work, they generally feel their impact at home. Employees who feel cared for will be more relaxed and energised to spend time with family and friends. As a result, they will feel better about themselves and live a happier and healthier life.
To help your employees’ well-being, consider the following:
Create work environments that promote health and wellness. They should have adequate lighting, good air quality, low noise levels, and ergonomically designed furniture and equipment. Create guidelines for your remote and hybrid employees to follow when creating a healthy workspace at home. If possible, provide them with a budget for a home office.
Check that your company’s safety policies adhere to industry standards.
In the office cafeteria, provide healthy eating options. You can also offer meal vouchers to your remote and hybrid workers.
Create smoke-free zones and areas for physical activity.
Create workplace policies that promote people’s health and well-being, such as healthcare benefits and leave policies that cover various types of leave. You can also add health benefits like gym and fitness club memberships to your total compensation plans.
Reduced absenteeism, healthcare costs, improved employee morale, and lower turnover will benefit businesses.
Employees are a company’s lifeblood. Therefore, businesses can thrive when they are healthy. When employees become ill, however, it can be challenging to remain productive and may even result in missed work days. That is why employers must take precautions to keep their employees healthy all year.
Promoting healthy lifestyle choices is one of the best ways to keep your employees healthy all year. This can be accomplished in various ways, such as by providing information on healthy eating habits or offering discounts on gym memberships.
You can also encourage employees to participate in wellness programmes such as weight loss challenges or smoking cessation. People are more likely to be engaged and productive at work if they are motivated to live healthier lives.
2. Educate Your Workers
Because your employees are your most valuable asset, you must invest in their health and well-being. One method is to educate them on the value of preventative health and staying healthy. You can help them make better health decisions by informing them about the risks associated with specific health conditions.
You can also provide educational materials on healthy lifestyle choices like eating well, exercising regularly, and dealing with stress. Lastly, you can help your employees stay healthy and avoid health problems by teaching them how to live better.
It is critical to provide screenings and vaccinations to your employees to keep them healthy. Many health problems, such as cancer and diabetes, can be avoided or detected early with screenings. Furthermore, vaccinations can protect employees from potentially fatal diseases such as the flu or measles.
To learn more about providing screenings and vaccinations at your workplace, contact a company like Biz Health. In addition, create a wellness committee or programme to promote healthy habits.
4. Offer incentives for meeting water intake targets
It’s critical to keep your body temperature regulated, especially in hot weather, and staying hydrated is one of the best ways. Employees must be aware of the signs and symptoms of dehydration because it can lead to various health issues.
Encourage employees to drink water throughout the day by keeping a water cooler in the office and providing easy access to water. Employees who meet their daily water intake goals could also be rewarded.
Employees are concerned about stress, which can lead to various health issues if not appropriately managed. Teach healthy stress management techniques to your employees, such as deep breathing, visualization, and positive self-talk.
You can also assist them by fostering a relaxed work environment and encouraging work-life balance. Furthermore, provide stress management resources such as an employee assistance programme or on-site yoga classes.
The health of your employees should always be a top priority. These five steps can help ensure that your employees are healthy throughout the year. A healthy workforce is happy and productive, so investing in your employees’ health is worthwhile.
The hybrid workplace is on its way up. While some employees are eager to return to the office, others are adamant about remaining completely remote. As an executive, CEO, or leadership team member, you may wonder, “How do we bridge the gap between those who want to return to the office and those who want to remain remote?”
The solution is neither black nor white. There are several reasons why a hybrid work model could help you achieve your diversity, equity, and inclusion (DEI) goals faster — while also adding new challenges. As a decision-maker, you must find a happy medium and consider the following questions.
Who on the team may face more significant challenges in a hybrid workplace and what can we do to help them?
How can we close access gaps and make sure that team members with different needs can work from home?
How can we stay connected and cohesive as a group while still letting people work in the way they prefer?
While the challenges of hybrid and remote models will be worked out in the coming years, it’s a good idea to start thinking about how to incorporate DEI into your new work model.
This article will look at how hybrid work can help eliminate workplace bias. We’ll also discuss the difficulties that may arise during your transition. Lastly, I’ll give you a few ideas that will help your company make a more welcoming place of work for all employees, not just those who work in the office.
The Benefits of Remote and Hybrid Work
Bias can be eliminated through remote and hybrid work.
One of the benefits of remote and hybrid work is that it provides employees with the flexibility and balance they require to succeed at work. Even though many groups still face discrimination and bias because of their race, gender, nationality, or ability, some people may feel safer and more welcome in the workplace if they switch to a hybrid or remote model.
Remote work can help to break down geographical barriers.
Remote work eliminates the geographical barriers that have long prevented international talent from entering companies open to a global workforce. This allows organisations to hire diverse workers from all over the world. Furthermore, employees have the freedom to choose where they want to work based on factors such as cost of living, cultural preferences, and proximity to friends and family.
Gender has been an advantage or a disadvantage in the workplace for many people. However, remote work can provide better opportunities and a better work-life balance for women, mainly working mothers who need the flexibility to pursue their careers while also caring for their families.
Workers with disabilities may benefit from remote work.
The accessibility needs of people with disabilities are frequently overlooked or ignored. In terms of hiring, in-person work may cause some people with disabilities to pass up an opportunity for which they are qualified due to commuting and accessibility issues. Working remotely allows employees to work in an environment tailored to their specific requirements. This will enable people with disabilities to work in a more comfortable and accessible environment, which could be their own home.
Remote work can aid in the elimination of visual bias in the workplace.
The main advantage of remote work is that people can turn off their cameras during video calls, eliminating the visual bias that often exists in workplaces. Visual discrimination is making assumptions and decisions about someone based on how they look, like their skin colour, hairstyle, clothes, tattoos, etc. Some people may find it difficult to advance in their careers due to visual bias. Visual bias can be lessened by working from home, especially for people of different races, ethnicities, or genders.
On the contrary, remote and hybrid work may result in more significant gaps in an organization’s diversity, equity, and inclusion. Remote workers may be out of sight and out of mind, whereas in-office workers may have more opportunities for connection and advancement.
Uneven access to leadership and the physical absence of workers can make the workplace feel less diverse, inclusive, and inherently unequal.
Inequitable access to leadership can result from hybrid work.
Those who work in the office may have more opportunities to interact with management in person than those who work remotely. This could lead to schisms between remote workers and leadership. It’s no secret that having face time with decision-makers is critical for career advancement. Employees who work in the office can more easily develop a rapport with management, whereas those who work remotely must be more creative to achieve the same result.
As previously stated, those who appear in the office may have more career opportunities in the long run. In addition, they may have more opportunities to form in-person relationships, leading to advancement preferences that disadvantage remote workers.
Additionally, there is a proximity bias. Proximity bias refers to the tendency of people in positions of authority to show favouritism or preferential treatment to employees who are physically closest to them. Managers with this type of bias can make performance, promotion, and hiring decisions based on familiarity rather than objective criteria.
Some common examples are:
Despite objective performance metrics, onsite employees are valued more than remote employees.
For example, offering onsite employees the most exciting projects, assignments, or development opportunities.
for fear of technical issues or communication gaps, excluding remote employees from important meetings or not encouraging them to speak up on group calls.
Office spaces in hybrid workplaces may be less diverse.
Many people of colour, gender, or ability minorities may choose to remain distant. This may impact the diversity of the office’s in-person staff and delay some DEI goals and initiatives.
Many underrepresented groups continue to face microaggressions in the workplace. A person from an underrepresented group may choose not to return to the office for various reasons.
Employees who identify as non-binary can display pronouns on their Zoom screen more quickly than they can correct colleagues face-to-face. When a nursing mother takes a break to pump, she can avoid being asked how long she intends to breastfeed. While working from the comfort and safety of their own homes, people with disabilities can avoid unnecessary offers of assistance.
All of these scenarios, and others, may lead to some groups preferring remote work over in-person work, resulting in a less diverse office environment.