Sam is an Australian based Non-Executive Director and former CEO. She chairs the Remuneration and People Committee at Newcastle Permanent.
getty
In her recent article, "The Great Uncoupling: Our Changing Work Relationship," in the Australian, journalist and author Helen Trinca muses that the book she published with Catherine Fox 20 years ago, Better than Sex: How a Whole Generation Got Hooked on Work, could not be written today in 2022. Not only that, but the title wouldn't apply either. The pandemic has accelerated many shifts that were already gaining momentum, giving rise to new philosophies, processes and technologies. As Trinca points out, “work needs a re-write.”
The piece examines the ways in which employees’ attitudes have evolved: how the work/life marriage has been through a trial separation, counseling and then moved forward. Trinca spoke to Aaron McEwan, a Sydney-based behavioral psychologist and vice president of global research firm Gartner, who stated, "This is the disentanglement of a co-dependent relationship" — the relationship we have with work.
A number of the changes that have taken place in our workforces and workplaces during the pandemic are likely going to remain permanent. It’s imperative for company executives to evaluate, in particular, the impact of current HR trends on operations and strategic goals. The pandemic led to a workplace reckoning — employees have started to re-evaluate their priorities, with more and more either demanding flexible working options or leaving their posts altogether as part of the Great Resignation.
People are after jobs that make sense as well as make money. They want roles at purpose-driven organizations. It seems to be taking a while for executives to recognize this, and we need to understand it not just notionally or merely as syntax we must include in corporate rhetoric. It’s also about more than simply attracting top talent — it’s a reputational matter. Businesses these days are widely scrutinized by the public and by potential employees on various social media sites and websites such as Glassdoor, where current and former employees share ratings and sometimes brutal reviews. You really don’t want to end up at the bottom of the heap on these forums; it’s bad for business. These platforms are expanding whereby they could be able in the future to pinpoint a company’s performance apropos carbon footprint, climate, ethical supply chain and more. Board executives need to heed these new ways in which our firms are measured.
As executives, it’s our job to stay informed, have an ear to the ground and be fastidious about keeping up to date with all developments and dynamics. For instance, we need to ensure that nurturing the mental health of remote workers does not get neglected. It’s clear that working from home is by and large efficient and productive and has many advantages, but there’s a lurking potential for negative feelings of isolation and associated problems. These concerns cannot be written off as part and parcel of the WFH movement.
Many businesses are noticing that there are financial gains to closing down expensive offices and having everyone work from home. They might actually find it easier, too. It’s not appropriate to approach this purely from a bottom-line point of view; the hybrid model needs to be considered far more holistically than that. For many employees, a hybrid model of two to three days per week in the office could ideal. An HQ is also crucial for many firms and should not be dispensed with simply to cut costs.
Employers have to go the extra mile in 2022 to retain talent. There are a number of obvious means by which employees can be well looked after: extra annual leave and/or remuneration, extended paid maternity leave or by offering the "work-from-anywhere" experience, where employees take their laptop to Italy or Ireland for a few months.
Peak capitalism between the 1980s and 2000s was an era of career obsession, as evidenced by Trinca's book and follow-up article. That infatuation was waning in the 2010s, then the bubble burst with the coming of the pandemic. Although the pandemic has wreaked havoc on societies, industries and individuals, for many it has been a wonderfully liberating experience from a career perspective.
Boards have been put on notice: With regard to work-life balance and career satisfaction, the bar has been raised. Workers expect a better deal and now they know they can get it. Directors need to appreciate that the contemporary corporate thoroughfare is a two-way street, which runs around a level playing field. Employers need to see, sanction and support this new work ethic.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
