To thrive during the Great Detachment period, organizations must focus on enhancing Compensation and Retention strategies!
Nicolas BEHBAHANI
Global People Analytics & HR Data Leader - People & Culture | Strategical People Analytics Design
?? 7 in 10 employees are actively seeking new job opportunities, yet only 38% of respondents report that their company offers a rewards and recognition program.
?? The consequences of low engagement are undeniable: reduced productivity, higher absenteeism, diminished innovation, and an astounding global loss of $8.8 trillion annually.
?? An overwhelming 90% of employees express concerns about their current employment, particularly regarding pay.
?? Additionally, 25% worry about potential layoffs, while 61% believe a pay increase would incentivize them to work in a physical workspace.
?? Employees are looking for a one-time monetary incentive, averaging $6,800, from their employers to encourage in-person attendance.
?? To truly drive employee engagement, productivity, and loyalty, employers must go beyond merely offering additional time off or flexibility. A comprehensive approach that includes competitive compensation and meaningful recognition is essential, according to a new interesting research published by BHN Rewards using data ?? from a survey conducted by SurveyMonkey in December 2024. The sample size included 2,035 U.S. and Canada employees, ages 18+.
? Factors that lead to Low Employee Engagement
Researchers have identified two primary factors contributing to significant declines in employee engagement:
1?? Concerns about compensation: 90% of employees express worries about their current employment, particularly regarding pay.
2?? Concerns about layoffs: 25% of employees are apprehensive about potential layoffs.
? Employees show less enthusiasm for non-monetary perks
This research indicates a decline in the number of employees seeking and expecting increased flexibility and vacation time, with this trend decreasing year over year.
? The workplace has forever changed.
Researchers found that despite the increasing number of return-to-office mandates being issued over the past few years, the workplace has forever changed. Nearly 1/3 of employees live in a different metropolitan area than their manager.
Trends such as hushed hybrid continue to exist, which shows that some employees are continuing to resist working from an office. Giving rewards and incentives is one way that employers can motivate employees to come back to the office.
??Finally, researchers recommend that companies implement a robust rewards and recognition program to demonstrate appreciation for their employees, regardless of the economic climate or employment landscape.
Giving rewards and recognition shows that companies are willing to understand their employees’ needs and demonstrates that they value the hard work that they do for them each day. The ROI of rewards and recognition is clear. When employees are appreciated, they are more likely to be engaged, productive, and loyal, now and down the line.
?? ???? ???????????????? ????????: I find this research particularly valuable as it provides insightful recommendations for organizations to address the Great Detachment trend. It delves into the root causes of this trend, which include a decline in employee engagement resulting from multiple factors such as layoffs, concerns about pay, and RTO mandates.
Notably, the research highlights that companies implementing robust recognition programs are less likely to experience the Great Detachment within their workforce.
Thank you ?? BHN Rewards Blackhawk Network (BHN) Europe researchers team for these insightful findings: David Leeds
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3 天前Sharing my Article on how unhappy employees can cost more than you think and having right resources is super critical as a 5% increase in employee retention can boost your profits significantly. https://bit.ly/41H2Y2J
Human Resource Professional | MBA | Coporate Recruiting Professional- ASA | Ex-Wirtgen Group,A John Deere Company
4 天前Insightful! Thank you for sharing this valuable research.
Empowering Chief People Officers to Build People-Centric Strategies to Unleash Workforce Success | CEO & Founder, PeopleCentriX | Editor-in-Chief, WeAreHuman@Work | University Lecturer | Ph.D., (LSE, UK)
4 天前Another “Great” trend to add to the ever-growing list. ?? Since 2022, I’ve tracked over 20 attempts to rename what’s ultimately the same underlying shift. Beyond the buzzwords, this is really about Workforce 5.0—a deeper transformation where workers are becoming increasingly conscious of their expectations, needs, and priorities toward their work and the organisations they support. Instead of focusing on new labels, the real challenge for leaders is clear: How do we proactively engage and support this evolving workforce? If you’re interested in exploring the 20+ terms (and diving deeper into Workforce 5.0), here’s a resource that might help https://www.peoplecentrix.eu/blog/workforce-5.0-the-decisive-battle-in-the-war-for-talent
Mentoring People and Nurturing Culture || Strategic HR Leader || HR Consulting || IIM Ahmedabad || Head of Group HR @TPSODL ||
4 天前To stop #GreatResignation post-pandemic, #GreatReset was of utmost priority. But, business and markets have their own peculiar challenges and moreso stakeholders' pressures which creates a state of layoffs and chaos all around to allow hybrid work setup or not etcetera. So, emotionally, people feel this #GreatDetachment. Fulfilling one's Extrinsic needs have been challenging due to low pay and layoffs. Hence, organisations need to go back to basics and fulfill the basic physiological needs prior to again thinking much about intrinsic needs of their employees. Rethink #GreatRetention and #GreatReset. If someone thinks that #AI will solve their people cost and get them their desired business, so sorry to say, whom they shall sell their products and services? To the same people who don't have earnings and money to buy!!!
HR Strategist. Lecturer and International Speaker on HRM and Value Management.
4 天前This creates quite a conundrum for employers who are seeing increases in the cost of running a business due to increases in energy, supplies, et al, and also having to look at the percentage increases in salary that are affordable. I would be surprised if employers would wish to start a salary 'war' - especially given the present financial climate, This would suggest that employers need to ensure that they are paying a fair salary for the work that is being undertaken. To do this I would suggest that salaries should be benchmarked against similar posts within the industry and that a value be put on any differences in skills, experience and knowledge required to undertake the work. Another words, ensure that any differences in salary across the industry is quantified to ensure fairness in the salary package offered. There is a fine balance between ensuring that remuneration is fair and forcing an employer into having to lay people off due to the increase in the cost of running a business. In the UK we are already seeing layoffs due to government policy that has increased the cost of employing people (both in increases in minimum wages up to 18%, dependant upon the age of the worker, coupled with increased employment taxation