Leaders worry more about Employee Engagement and Retention
Nicolas BEHBAHANI
Global People Analytics & HR Data Leader - People & Culture | Strategical People Analytics Design
?? Employee engagement and #retention is the top friction point businesses are facing, with half of all leaders reporting it as a moderate to major challenge.
?? But #CSuite is most concerned about challenges related to profitability, whereas lower-level leaders list #employee retention and #engagement as their top challenge but majority of leaders highlight the impact that a lack of integration between departments and systems has on their #business according to a new interesting global research entitled "How business inefficiencies impact performance" published by WEX 爱德曼 and conducted by 益普索 poll in March 2023 - using data from 292 #Managers, Senior Managers, and Directors, 151 #Vicepresidents, Senior Vice Presidents, and Senior Executives, and 259 C-Suite level leaders.
Employee Stress and Burnout
The primary impact of inefficient processes, lack of integration, and issues with payment systems are time inefficiency and employee #burnout
In addition to impacts on profitability, employee #wellbeing is also a main concern of leaders when they consider the impact of these challenges. Employee #stress and burnout and too much time spent on simple tasks are often listed as consequences of inefficient processes, a lack of inter-department and system integration, and issues with payment and billing systems.?
Employee Engagement and retention
1 in 4 #leaders say outdated systems and technology are major contributors to issues with employee retention and 73% report it as at least a minor contributor
Top 3 investment priorities for Leaders
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Leaders understand that to boost #Employeeengagement, they need to improve #Customer Experience. Researchers found in this report that leaders also identify their top three investment focuses for the next five years as:
1?? Improving the overall customer experience,
2?? Improving employee retention and attracting new talent,
3??Adapting quickly to global changes.
?? Researchers noticed that to improve their #customerexperience, leaders are primarily looking to empower their employees with the tools they need to meet customer expectations:
Thank you ?? WEX and 爱德曼 ?researchers team for these insightful findings: Melissa D. Smith ? Melanie Tinto Karen Beck Stroup Carlos Carriedo
Managing Director | Transforming Multi-Brand Restaurants | Driving Operational Excellence & Innovation | Expertise in Startups & Scaling Foodservice | Virtual Brands, Fine Dining & QSR | MBA |
1 年Thank you for sharing In fact, the finding about the impact of a lack of integration between departments and systems is particularly noteworthy. Silos and disjointed processes can lead to inefficiencies, duplication of efforts, and missed opportunities. It's important for organizations to prioritize cross-functional collaboration and invest in the right technology to enable seamless communication and data-sharing between departments.
LinkedIn Top Voices in Company Culture USA & Canada I Executive Advisor | HR Leader (CHRO) | Leadership Coach | Talent Strategy | Change Leadership | Innovation Culture | Healthcare | Higher Education
1 年Thanks Nicolas BEHBAHANI
Speaker, Author, Professor, Thought Partner on Human Capability (talent, leadership, organization, HR)
1 年Nicolas BEHBAHANI Great and timely post. HR professionals need to show how their insights on human capability (talent + leadership + organization + HR) will deliver what c suite executives (plus boards, customers, investors, and communities) want and need. This is the focus of our writing and research about HR from the outside in and how to reframe HR conversations for value added. https://www.dhirubhai.net/pulse/human-capability-improvement-reporting-how-make-dramatic-dave-ulrich/?published=t Thanks for providing research to validate these ideas.