RELATABLE ORGANIZATIONS- The Post Pandemic Makeover of Organizations.

The last two years of the pandemic has completely changed the world. The pandemic had pushed people 6 feet apart, quite literally, but it has also paradoxically managed to bring people closer. One thing remained constant throughout it all- the desire for people to relate to each other. There was and continues to be a sense of comfort and an emotional essence to relatability. People have developed trust, learned to help and be helped, have developed empathy and resilience.

When employees change and grow, organizations must take a page from their book and focus on their own growth as well. Organizations too have picked up from the empathy that was sowed during this time and have found new ways to make their partnerships more relatable, sustainable and in-tune with the new ways of work and are really becoming more ‘human’.

Why are Relatable Organizations so necessary?

If this were a poll, the popular opinion of people would be that relatable organizations are winning. The Great Resignation has caused a structural shift in the labour market and the economic rebound in some parts of the world have enabled workers to action. Organizations who wish to be relatable are challenging legacy norms of value-creation and redefining how they wish to exist. They are rethinking processes, ways of working and digital investments and unlocking potential through investments, partnerships, wellness, agility and energy. Organizations are expected to know what they stand for and be open and honest about it.

According to Mercer’s 2022 Global Talents Study, Organizations are Changing. Mercer calls it, ‘The Rise of the Relatable Organization.’

Here are a few of the work trends organizations must adopt in order to be ‘relatable’

1.?????Relevance- A Combination of Change and Adaptation that is powered by Values.

According to Mercer’s study, in order to stay relevant, a company must learn to adapt to the changing values of customers, employees and investors which requires a resetting of priorities and work models. Companies must walk the talk, especially in terms of their core values. They must show that they are passionate about their purpose through their work standards and investment strategies. Moreover, people want companies to reflect their personal values as well. The study notes that 96% of employees want their employer to pursue an agenda that focuses on sustainability that balances financial results with social issues, DEI, and environmental impact. People want to work in a company environment that listens, takes the effort to learn and then adapt according to ‘identifying and addressing’ unmet needs.

2.?????More of ‘Working in Partnership’ and less of ‘Working for a Company’.

As the study rightly states, people no longer want to work for a company, but rather wish to work with a company. 70% of HR professionals are predicting a higher-than-normal turnover this year and Relatable Organizations believe that partnering over leading is the way to go. After two years of working in a hybrid environment, most employees have come to prefer it over travelling for hours to the office. Moreover, hybrid working is more convenient for employees with families and those who are juggling too many activities in their daily life. 62% of employees said that they would join a company only if they have the option of hybrid working. 72% of companies are concerned about the impact of remote working as 75% of them say that they have an apprenticeship culture where people learn side by side, and that would be lost if hybrid working was encouraged.

Companies should aim at redesigning their learning and ways of working to fulfil the wishes of their employees as well as their own aims. For instance, a flexible schedule where employees come to the office physically a few times a month can be implemented. In this way, both employees and the companies meet halfway.

3.?????Holistic Wellbeing.

The Pandemic has made people a lot more conscious and aware of the importance of health. It has also exposed the health and wealth gaps for different populations. The report published by Mercer highlighted the fact that the accessibility and affordability of care wasn’t enough and that about 81% of the employees feel the risk of burnout this year which was 63% in 2020. Across all demographics, financial worries have increased and 51% of employees say that they feel insecure about their financial future. The study suggests that shifting the focus from reducing health-related costs to optimizing investment so that people remain healthy and engaged is key to people sustainability.

According to the study, four out of five companies are planning to implement an AI (Artificial Intelligence) driven benefit enrolment platform which reflects the fact that companies are using AI in enabling benefits strategies through which they can forecast the future trajectory of their employee’s wealth, retirement, and long-term health outcomes.

4.?????Building for Employability.

Upskilling and Reskilling are given their due importance, but while 91% of employees have reported that they have learnt a new skill, almost all the companies report significant skill gaps in their organization. HR professionals are worried that their reskilled and upskilled talent might leave the company but providing these employees with opportunities to use their newly developed skills might prevent this. Skill-based models are enabling organizations to deploy talent more flexibly and explore more broader and diverse talent pools.

In 2019, 25% of employees said that they intend to stop working completely after their retirement, but that number is now down to 16%. According to the report, 39% of companies are enabling employees to adapt to retirement benefits to their personal circumstances while 38% are offering their retired employees new employment options which employees are very happy to accept.

5.?????The Importance of the Employee and Harnessing Collective Energy for the Wellbeing of the Employee and the Organization.

Just like how a petrol run vehicle cannot function without fuel, similarly, an organization cannot function without happy, driven, satisfied and hardworking employees. The pandemic has accelerated the adoption of new technologies, business models and ways of working and 97% of companies are planning enterprise-wise transformation this year but employee fatigue is reported to stand in the way of that transformation.

As companies transform, attention will have to be paid to rethinking employee experience and the connection between employees and their organization. Companies have reported that automated HR processes have caused a loss of valuable contact between HR and businesses.?With Energy levels at a low, there is a collective fatigue that is impacting productivity. Technology has proved to be both a contributor and saviour.

If this study and article proves anything, it is that organizations must adapt to changing employees. The days of working endlessly without any regard for health and wellbeing are on the decline. The workforce now looks for companies with purpose and that which also cares for their wellbeing. Companies and their leaders must rethink the workplace, and how they can find a balance between their business requirements as well as the needs of their employees.