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Key findings from the report include:
Drawn from a survey of 250 business executives from Australia, Germany, Japan, the UK, and the US, examines the human-centric strategies and attributes that make somewhere a ‘magnetic’ place to work, as organisations continue to evolve with a shifting employment landscape. Participants from companies including Stripe, PwC and Google were asked to quantify their confidence in the appeal of their workplace for employees both now and in five years’ time. In the wake of the pandemic’s impact on workplace norms, the challenge of attracting and retaining talent is more prevalent than ever. Increasingly, organisations are being obligated to shift their focus onto previously underexplored facets of the workplace. In addition to digital technology’s importance link with improved productivity, addressing issues of diversity, inclusion, and gender equality, establishing workforce culture and meeting a growing demand for hybrid work are all key elements that are shown to establish “magnetic workplaces” and lead sustainable business growth. The Barometer also highlighted a need for companies to rethink performance management, due to a growing decentralisation of the workplace. Shifting to an outcome-driven style of management is shown to encourage transparency and trust between managers and employers, whilst more frequent assessments and personal goals suggested to encourage transparency and trust between managers and employers. Job-crafting, which is defined as allowing employees to have a hand in shaping their role, was also found to have improved employee job satisfaction and engagement. The Magnetic Workplace Barometer reveals that the US is the leader when it comes to confidence in establishing magnetic workplaces, scoring above the global average, and displaying a strong commitment to investment in tech tools, flexible work and conscious leadership. In contrast, Japan is less certain about facilitating flexible working, or bolstering technological infrastructure, though 52%* of Japanese respondents expressed optimism for flexible working arrangements in the future. Commenting on the report, lead editor Naka Kondo at Economist Impact said: “Organisations must put their people first if they want to remain an attractive workplace. Digital technology will be the key resource for companies to facilitate and engage with existing and prospective employees’ changing demands and help to mitigate against an increasingly decentralised workplace. Whilst companies globally are optimistic, they must ensure they continue to prioritise human-centric strategies in order to drive sustainable growth.” *where we state a certain % of respondents are confident, it means they indicated a confidence level of 5 or greater The keys to unlocking the magnetic workplace Pillar 1: Technology and productivity ● Digital technologies are the bedrock of the magnetic workplace. With strong investments in the latest technologies and a culture of upgrading legacy systems, organisations are able to realise the gains from allowing employees to work where and when they are most productive. Remote work technologies, collaborative and automation technologies will be necessary ingredients to empower workers with more autonomy and access to skills development opportunities. ● Performance management is changing, as more companies rethink what values and outcomes matter to them. The growing decentralisation of the workplace will require companies to shift to a style of performance management that is outcome-driven and continuous to encourage transparency and trust between managers and employers. Pillar 2: Employee engagement ● Flexible work is here to stay, especially among industries where remote work arrangements have the biggest impacts such as media and IT (5.76), finance and insurance (5.57), and retail (5.56). Magnetic workplaces can leverage flexible work options to provide employees with more autonomy, but also to access more diverse talent. Flexible work allows employees to work in a way that maximises their performance and increases productivity for sustainable business growth. ● Magnetic workplaces are not focused on just attracting and retaining talent, but upskilling and developing existing employees. Employees are actively looking for companies that foster upskilling and career growth, and companies that can meet these demands will see their retention improve. ● The advent of more flexible work will require more skilled managers equipped with new approaches to employee engagement. This next generation of managers need to be able to manage scattered workforces and encourage effective communication via digital communication tools. Pillar 3: Culture ● Going all-in on diversity and inclusion can boost talent retention and attraction. Recent events have pushed issues of diversity and inclusion into the spotlight, especially as employees are actively looking to work with firms that share their values. Technology can help firms bolster their diversity and inclusion initiatives, but strong internal values are foundational to ensuring a magnetic workplace make them a reality. ● A strong sense of alignment with a business’s overall goals can help drive employee retention. When employees feel tethered to a core set of values and a sense of purpose, they report better job satisfaction and productivity. Technology can help mediate this sense of disconnection by fostering better communication of company goals and in-team collaboration. ● Work-life balance is a paramount concern in magnetic workplaces, especially as mental wellbeing is increasingly becoming an important factor for job-seekers. Companies that ensure workers’ personal time is protected tend to see improvements in worker productivity, health and satisfaction. The issuer is solely responsible for the content of this announcement. About Kyocera Document Solutions Inc:Kyocera Document Solutions Inc. is a global leading provider of total document solutions based in Osaka, Japan. The company’s portfolio includes reliable and eco-friendly MFPs and printers, as well as business applications and consultative services which enable customers to optimize and manage their document workflow, reaching new heights of efficiency. With professional expertise and a culture of empathetic partnership, the objective of the company is to help organisations put knowledge to work to drive change. News Source: Media OutReach
22/11/2022 Dissemination of a Financial Press Release, transmitted by EQS News. |
