Please Mind the Gap

Hey there, thought leaders! Ready for round two of our LinkedIn newsletter? Buckle up, because we've got some fresh data on diversity and the job market that'll make you wanna dance on your desk.

Spoiler alert: 77% of workers from Germany, the UK, and the US say they work in a diverse team. Not only does this create a more loyal and engaged workforce, but it's also a step towards a more inclusive workplace.

Speaking of the job market, it's hotter than a jalape?o pepper, and the demand for skilled workers is reaching new heights. But let's not forget that this shortage of talent has been brewing for years. Our economist Julius Probst, PhD breaks it down in his latest article; and trust us, it's a must-read.

So, whether you're striving for a diverse workforce or trying to navigate the labor market, we've got your back.

Last month was all about equal opportunities, culminating with International Women's Day on March 8th. We've just conducted a brand-new survey (will be released soon) in which we asked a total of 6,000 workers from Germany, the UK, and the US about diversity in their workplace. And guess what? 77% of them said they work in a diverse team.

This is great news because our research also shows that people in diverse teams are more loyal and emotionally connected to their company. Employees working in diverse teams are more likely to recommend their organization as a place to work. Moreover, they are more likely to stay with the organization. In fact, in a study from 2022, we found that a majority of people in all three countries were optimistic about gender equality in the future. Well, it seems the "people shortage" challenge isn't all doom and gloom! Most people in Germany (60%), the UK (78%), and the US (75%) believe that gender equality will improve in the future. That's some really good news, isn't it??

Tip!

To create a diverse and inclusive workplace, start by checking your own biases.?Time to grab that notebook! Use your daily self-reflection exercise to examine your personal attitude and behavior when it comes to diversity. No need to stress – there's no wrong answer here, just endless opportunities for growth! After all, we all have our biases. Then kick things into gear with some fun and informative diversity workshops (who doesn't love a good workshop?). Finally, foster a psychologically safe space that encourages diverse perspectives and opinions. Read more about psychological safety if you are interested!

If you're interested in finding out more about what makes employees engaged and connected to their employer, look out for our upcoming research on this topic!

Diversity

Every year on International Women’s Day we talk about diversity and equality. Apparently, some companies still need a crash course on this. According to a Stepstone Group survey, women say flexible work schedules (65%) and targeted development programs (55%) are the keys to unlocking gender equality. But get this: 44% of women surveyed said their company isn't doing anything about it. Come on, people! Let's step up our game and make the workplace a happier and fairer place for all.

Humanity & Mental Health

Mental health is on everyone’s lips. Even the European Parliament has proposed 2023 as the EU year of mental health to bring attention to this critical issue. It is high time that companies introduced targeted measures to promote the mental health of employees. Just in case you are struggling right now: The CDCP provides tips for employees to build resilience and manage work-related stress, which can also be helpful beyond the pandemic.

Human Skills

Now that the public relevance of AI is reaching a new level – what does this mean for the importance of human skills? It means that we must find ways to incorporate technology to augment and enhance human capabilities. More automation doesn't actually leave people jobless, ?it lets us focus on our one-of-a-kind human skills! As AI and robots get smarter, they're evolving into our trusty sidekicks, teaming up with us to reach those shared goals. Therefore, we should not back away but strive to create technology that complements and augments human skills, making our lives easier and more productive.

Remember last time, when we talked about how hot the job market is? Well, the job markets in the US, UK, and Germany are still hotter than a freshly brewed cup of coffee in the morning. Today, we have some exciting new data explaining what to expect…

First, let's think back: Workers' bargaining power in advanced economies had been on the decline for decades until a few years ago. Now, it seems that power has shifted quite suddenly with the recovery from the pandemic. But is that entirely true?

Yes and no. Post-Covid, the labor market has bounced back like a basketball on a trampoline, and demand for workers is skyrocketing. However, our analysis shows that labor shortages were already becoming increasingly critical at the end of the 2010s. They just lurked in the shadows during the pandemic. Now the shortage is clearly back.

Curious to know what’s behind these developments in the UK, the US, and Germany – and what actionable insights decision-makers can glean from it? Look no further! Our colleague and economist Julius Probst, PhD has penned an informative article on the subject.?Read on!

Who would have thought that soccer and the world of work have things in common? Well, guess what: Ariane Hingst , a two-time soccer world champion, four-time European champion and co-founder of the women’s soccer team FC Viktoria Berlin , has revealed valuable insights on leadership, feedback culture and equality:?

"In soccer, of course, it is very highly thematized and we talk about wanting to have better pay. But it's not that equal pay is appropriate, that we say women must now earn just as much as men.?But it's about fair pay, simply saying performance that is rendered is rewarded differently. And even more important: equal play. Saying that you also provide the same basic conditions, create opportunities."

Read more about the legend’s view on the modern working world, her learnings from professional soccer and what recommendations she had for leaders and employers here.

The women’s soccer team FC Viktoria Berlin is part of the club FC Viktoria 1889 Berlin and, at the same time, sees itself as a start-up which stands for equal opportunities and is aiming to become a success story in German soccer. The Stepstone Group is its main sponsor and runs joint campaigns to drive diversity, equity & inclusion in sports, business, and society.