Understanding Gen Z to attract top talent

Understanding Gen Z to attract top talent

Sunday, July 24, 2022

In the age of remote and hybrid working, employment opportunities extend far beyond the boundaries once set in a pre-Covid-19 world. For most, work no longer has a set office, and for some, it doesn’t even have a fixed city or country. With the pool of opportunities for those on the job market constantly expanding, employers are expected to make a splash in the jobs market, particularly as the ripple effect of the Covid-19 pandemic continues to linger. 

For employers trying to attract and retain young talent, the market is especially challenging. According to the Pew Research Centre, 2021 saw 37 per cent of young adults in the US leave their jobs, versus 17 per cent of those aged 30-49. Furthermore, a study carried out by Microsoft this year found that 52 per cent of Gen Z (aged 18-26) and Millennial (aged 27-41) workers said that they were likely to consider changing employers this year.

So, what makes young people tick? It seems that a people-centric approach to company culture is key. According to Microsoft, a positive culture, mental health and wellbeing benefits, a sense of purpose and flexible work hours are amongst the top aspects that employees view as very important. While in the past, an organisation’s employees found a way to fit into its way of working, the power dynamic is beginning to shift. Today, shaping organisational purposes and practices around people seem to be a prerequisite for success in attracting new and young talent. 

While some organisations have been tailoring their practices to their employees for decades, others struggle to begin the process as demands for change from the workforce are elevated. For organisations that are just getting started on tailoring their culture to their employees, what can be learnt from established players? 

Less stress

According to a study by Bain & Co., Gen Z and millennial workers are getting more and more stressed out and overwhelmed at work. Of 20,000 workers surveyed, 61 per cent of people under the age of 35 stated concerns about job security, finances, and meeting career goals. How can organisations play a role in reducing stress in the daily lives of their employees?

Appointing mentors within your organisation to support younger employees can be an efficient and low-cost remedy to supporting early-career practitioners. By setting regular mentorship meetings, organisations can ensure that employees can set goals, discuss concerns and seek advice on their day-to-day work lives and long-term career plans. 

Make a positive impact

Gen Z and millennials value being part of purpose-driven work environments that have a positive societal impact and are concerned with ensuring equality is at the centre of everything they do. Young professionals value being able to be their authentic selves at work and appreciate an environment that makes them feel safe to be themselves and supports them. 

Setting appropriate company policies for diversity, inclusion and equality are important when it comes to creating a safe space for young people, and it’s even more important to follow through on policies and promises to ensure everyone feels safe and respected. 

Flexibility 

Employee benefits form an important part of any employment package. The onset of the Covid-19 pandemic brought a new and important benefit to the fore: flexibility. Whether that’s flexibility in working hours or location, employees value the flexibility to plan for life around work. Operating an agile workplace can have a massive impact on both productivity and mental health, so building flexibility into employment packages where possible benefits all parties. 

Flexibility looks different in every organisation depending on the industry, sector, customer expectations and working time zones. Organisations who consider what works best for the productivity and wellbeing of their teams are likely to earn respect from employees who value and prioritise work-life balance. 

Transitioning to become an organisation that supports the mindset, wellbeing, interests and desires of all of its employees is a challenging task. The first step to overcoming any hurdles is to ask your people for their feedback. Learn more about why they love working for you, and what they might change if they had a chance to optimise your work environment for retention and staff satisfaction.  

First published in Strategic Magazine. 

Leveraging reputation for business growth

Leveraging reputation for business growth

Saturday, March 5, 2022

With the digitisation and digitalisation of business and communications, organisational reputation continues to grow in importance. It makes up a large portion of the value that entities provide to their customers, consumers and stakeholders, which was once consumed by tangible assets. Where businesses once determined the availability of products and services for their consumers, consumers themselves now take on this role, armed with a set of expectations that organisations must meet to achieve industry success. 

This notion is supported not only by anecdotal evidence of business leaders and teams, but also visualised by the evolution of organisational value over time. In the 1978 Gregory Evaluation, 80 per cent of a company’s value comprised of its tangible assets. Almost 40 years later, the same evaluation found that value had changed entirely, with 20 per cent consisting of fixed assets, and the same amount allocated to the brand, its values and goodwill. Essentially, this change meant that corporate reputation became equally as important as the goods supplied by the company itself. 

What is corporate reputation? 

Corporate reputation is defined as an aggregate perception from internal and external stakeholders (Walker, 2010). Corporate reputation can mean different things for different divisions and departments in business. For example, while strategists may view corporate reputation as a means for generating competitive advantage, the financial department may consider it a form of goodwill or a mode for generating trust amongst stakeholders. Through the use of specific tools and techniques, and although reputation is an intangible asset, organisations can be assigned a single reputation rating, making it straightforward to benchmark against competitors. 

According to RepTrak®, there is a three-step process to calculating reputations. A pulse score determines the emotional bond between organisations and the public based on esteem, admiration, trust and good feeling; seven dimensions: leadership, performance, citizenship, governance, workplace, innovation, and products and services, known to be the pillars of organisations are considered; twenty-three concrete and operational attributes within these dimensions are evaluated.

Why does corporate reputation matter? 

The way customers, consumers and stakeholders think and feel about an organisation ultimately determines the actions they take. Whether that’s purchasing and re-purchasing, recommending the organisation to peers, providing positive reviews, instilling a desire to work for the organisation or willingness to invest. Companies who create and maintain a positive reputation are most likely to see their stakeholders take positive actions, which inevitably have a positive impact on the bottom line. 

How can organisations leverage reputation for business growth?

Business success is determined by a series of supportive interactions that customers and stakeholders make with organisations, ranging from purchase and recommendation to stories of success in the media. According to Kasper Nielson, executive partner of The Reputation Institute, trust is at the core of every supportive action. 

In his 2012 Forbes article, How to leverage reputation as your #1 driver of value, Nielson explains: “Reputation is the emotional connection between people and companies… Companies with strong reputations have this emotional connection and they see increased support from key stakeholders.”

In terms of driving supportive behaviour, Nielson continues to explain that companies with weak reputation see only 16 per cent of consumers willing to purchase its products or services. As reputation grows, so too does the likelihood of purchase. Those companies who exhibit an average reputation can expect 41 per cent of consumers to exhibit willingness to purchase, while those with a strong reputation see this figure grow to 64 per cent. 

The primary determinants of purchase can be simplified to two factors: the offering made available by the organisation and the organisation itself. Consumers expect all organisations to offer quality products and services. In most cases, it’s hard to differentiate products between companies, thus a key determinant in decision making lies in the reputation of the organisation itself. 

Take, for example, a standard and staple household product: washing up liquid. In Ireland and the UK, it is clear that Proctor and Gamble’s brand, Fairy, dominates the market, despite the availability of supermarket own-brand products, often at cheaper prices. Although marketing and advertising play a large role in the success of the brand, outside these, Fairy has established itself as a brand worth trusting and supporting. 

In celebration of Pride and in support of LGBTQ+ families, in 2019 Fairy washing up liquid was re-branded as ‘Fair,’ in support of The Albert Kennedy Trust which serves young and homeless lesbian, gay, bisexual and transgender young people. Alongside raising vital funds, this also saw the brand begin discussions within homes across the UK. 

It is ongoing initiatives and activities like these that ensure that businesses remain front of mind, secure supportive behaviours, and ultimately achieve competitive advantage. In a world where market competition has never been so high, consumers are presented with a wide variety of choices. Product differentiation is no longer a means to achieve buy-in. Instead, companies must nurture their reputations to secure support. 

Social media: A problem or a solution for crisis communications?

Social media: A problem or a solution for crisis communications?

Monday, December 6, 2021

In the digital age, where individuals, organisations and the media can share updates with the public with the click of a button at any time and from any location, the management of crisis situations has never been so challenging. Organisations and brands who fail to invest appropriately in monitoring and managing social media before and during crisis situations risk reputational damage, poorly informed decision making and damaging the trust built with key stakeholders, including customers, the media and the communities in which they operate. 

The good

Social media plays an important role in society, with over 4.48 billion people, 57.6 per cent of the world’s population, actively using social media sites and applications. Although regularly criticised for the damage social media platforms cause to mental health and the spread of misinformation and disinformation, it can’t be denied that social media also acts as a force of good, connecting people across the world, democratising the ability to communicate globally and allowing society to stay informed with the latest happenings. 

In preparation for crisis communications, social media also plays a positive and proactive role in allowing organisations to determine the concerns of key stakeholders. Organisations who monitor social media efficiently benefit from real-time insights into what their stakeholders are saying about them. This plays a role in enabling the identification of issues, allowing their mitigation before they escalate to crisis situations.

During crisis situations, businesses who monitor social media can also gauge changes to stakeholder sentiment based on the actions they take to mitigate organisational damage. When key decisions are made, monitoring social media ensures that organisations are informed about the potential impact this may have on their relationships with stakeholders and society. 

Having owned and up to date social media channels also provide brands with a platform to share their own message. This is particularly important where speculation arises from uninformed onlookers. Providing a factual source of information via verified channels ensures that the organisation’s messaging is portrayed in a controlled and considered way. Where crises arise that require the organisation to share their message with a specific group in a timely manner, social media advertising can be used in a hyper targeted way to reach key identified stakeholders in a quick and cost-effective way. 

The bad

Despite its many benefits, the prevalence of social media during crisis situations can be a double-edged sword, particularly when poorly managed or absent from crisis communications planning. 

While organisations can exert control over their own channels, it’s impossible to predict or even mitigate every negative message or post that has the potential to damage organisational reputation. Users also expect timely responses, which can be challenging to provide where situations are constantly evolving, or management of social media is poorly planned. 

When sharing difficult news with stakeholders, it’s also impossible to predict every response, both in person and online. To combat negative reactions from internal stakeholders, such as employees, consider including guidelines on social media posting related to the organisation in contract negotiation. 

The pandemic of disinformation, coupled with the infodemic, also poses problems for organisations in crisis situations, particularly where social media users rely on inaccurate sources of information for news, or are hesitant to believe true sources of information as a result of a saturated media market. Combating these forces online would pose significant challenges. Instead, PR professionals should liaise with trusted media to share their message. 

So, what can you do?

For organisations who are serious about protecting their brand, reputation and relationships with stakeholders, appropriate social media planning must be implemented before issues or crises arise. Adopting a guide for responding to stakeholders online in these situations is key to ensuring that employees are aligned on what messages should be shared online, including when and how. Building guidelines for social media into employee contracts from the outset also ensures that problems don’t arise from within the organisation. 

Adopting an appropriate mechanism for monitoring stakeholder sentiment towards the organisation on social media can also enable early identification of issues, allowing communicators to manage these before they reach crisis level. 

Ensure your organisation’s social media channels are updated regularly and begin to build an online rapport with stakeholders. Organisations with strong relationships with the people that matter are most likely to survive crisis situations. 

Social media will forever be an important part of society. Organisations that recognise its importance in predicting and mitigating issues protect their reputation and relationships. 

First published in Strategic Magazine. 

Staying connected on social during Covid-19

Staying connected on social during Covid-19

Friday, September 17, 2021

Humans are a social species; social connection is at the core of everything we do and is central to our mental wellbeing. In the midst of a post Covid-19 world, where each individual is responsible for enacting appropriate measures for social distancing, social media plays a vital role in allowing members of society to stay connected, regardless of location, health or age. Although physical socialisation has become challenging, over the past few months society has quickly adapted to new mechanisms of interaction, with social media at the core of many of our relationships. 

Social media acts as the perfect antidote to our current climate, providing society with a ‘new’ normal, allowing us to see our family and friends, and even our work colleagues, engaging in online conversations enabling collective processing of stressful and unsure circumstances. Amongst the social media platforms enabling users to maintain meaningful relationships is ‘Zoom,’ home to college lectures, family quizzes and even modern dating. The organisation has seen its usership increase from 10 million users in December 2019, to over 300 million users today. Other social media platforms, such as TikTok, have served to inspire users to become creative in their own homes, seeing many individuals take part in viral challenges, home renovations and new hobbies, in a bid to find new ways to stay occupied. 

Essentially, social media allows users to find a common ground, enabling interactions with people of similar mindsets, and the sharing of everyday life, however exciting or mundane it might be. Alongside the ability to share personal experiences, social media has proven itself to be an important tool for sharing information during Covid-19. News sources and businesses alike have adapted their offerings to meet the needs of social media users, providing news snippets and organisational updates on various platforms. Politicians have also adopted this approach, sharing regular political updates online.

Despite its many positive implications, the negative effects of social media have also become increasingly clear during the ongoing pandemic. The growing amount of information shared online has inevitably resulted in both information overloading and an influx of ‘fake news.’ Users are exposed to social media content during every moment of the day, so it is important now more than ever, to be mindful of media consumption, limiting the number of negative articles consumed and eliminating news sources that are not legitimate. 

This seems easier said than done. In a bid to become mindful on social media, try to use networking sites with intention, as opposed to checking sites subconsciously. To avoid unwanted content, it might be good to consider unfollowing accounts that share information that you don’t enjoy or blocking relevant keywords from appearing on your social media feeds. Remember, social media is not always an accurate depiction of real life. For up-to-date factual news, always consume trusted news sources. 

First published in Strategic Magazine. 

Changing Expectations and Employee Supports

Changing Expectations and Employee Supports

As a digital native, the prospect of digital working and learning is not a concept that I should find daunting, or even surprising. My childhood, adolescence and adulthood thus far have all been shaped by ever-changing technologies and virtual experiences. However, this has provided little advantage over my older peers as we adapt to the immense impact of the Covid-19 pandemic. 

Challenging as it may have been to adjust to the norms of living almost entirely in a virtual world, it is certain that these challenges are much the same, if not greater, for many organisations who have had to adjust their offerings and their workforces to online life, ultimately bearing responsibility for the continuation of the economy, whilst protecting the wellness and work ethic of employees.

Despite overcoming many of the challenges posed by Covid-19, the implementation of a new way of working has seen a new set of employee expectations arise, challenging businesses to reconsider their interactions with their teams. These are reflected clearly by IBM’s monthly Covid-19 consumer surveys, which suggests that employees now expect their employers to play an active role in supporting their physical and emotional health, whilst also equipping them with the skills required to efficiently work from home. Despite the significant lean towards increasing employee supports during the pandemic, many organisations have struggled to adopt successful methods to support their employees, with just 38% believing that their organisation has supported their learning of new skills required, and only 46% feeling the support of their organisations. 

What can business leaders do to help?

A lot can be learnt from the successful business practices adopted by many companies during the Covid-19 pandemic, which have ensured frequent communications, supporting for a work-life balance, provided appropriate resources to employees and maintained regular team-building activities. 

Communicating with Employees during Covid-19

According to a study conducted by the Harvard Business Review in conjunction with Qualtrics and SAP, employees who expressed that their managers were not good at communicating are 23% more likely to experience a decline in mental health. Communicating effectively, efficiently and regularly with employees is more important now than ever. Team members should be regularly updated with appropriate information about organisational updates and changes. The provision of relevant communications plays a key role in reducing employee stress and allows leaders to set clear expectations for their employees. 

The study also makes clear the importance of recognising employee dedication, efforts and contributions to the organisation during the pandemic. The inclusion of appreciation during regular communications plays a key role in boosting employee morale, at a time when many fear the uncertainty associated with their roles. 

Supporting Work-Life Balance

Moving work life into a personal space means that the line between work and personal life is blurring. To limit the negative implications of the increased presence of work in employees’ personal lives, leaders must lead by example, raising the importance of self-care, checking in with employees individually where possible. When leaders share insights into what they are doing to ensure a healthy work-life balance, employees are often inspired to do the same. 

Providing Appropriate Resources

Although many employees may be well acquainted with the resources required to run your business remotely, it’s important to ensure that all members of the team are equipped with the necessary resources and supports required to enable the daily functioning of the organisation.  Where uncertainty arises around how to use new tools in the workplace, it’s important to provide employees with appropriate training and resources to enable them to gain confidence in their abilities to work from home. 

Given the intense impact of the Covid-19 pandemic on employee mental health, it is important to also consider the resources provided to support employee wellbeing. Employers have a responsibility to combat this largely negative impact via the provision of appropriate resources and tools. 

Maintaining Regular Team Building Activities 

According to the Harvard Business Review survey, conducted in conjunction with Qualtrics and SAP, employees benefit hugely from opportunities to bond with their teams, facilitated by their leaders. Hosting regular team building activities allow teams to bond and restores a social aspect to employees’ lives. Successful team building activities hosted by organisations include virtual coffee breaks, virtual lunches and even virtual happy hours! It’s important for employees to feel like they are part of a team. Hosting online team building events is a great way to foster a team spirit. 

Organisations have worked tirelessly to ensure that their businesses adapt to the ‘new normal’ posed by the Covid-19 pandemic. However, today it is not enough to focus on how these changes affect the lives of customers. Instead organisations must consider what they can do to support their employees. A successful business starts from within. Whether employees are digital natives or have watched the digital sphere unfold throughout their lives, it’s important for organisations and leaders to provide the appropriate supports to ensure effective operations, and to maintain a positive morale.

First published in Strategic Magazine. 

Communicating Diversity, Equity and Inclusion

Communicating Diversity, Equity and Inclusion

The current social and political climate means that it is more important now than ever for organisations to share their efforts to promote diversity, equity and inclusion with their internal and external audiences. Being an employer of equal opportunity for all is no longer an organisational aspiration, but a requirement for modern businesses to succeed. In fact, according to PwC’s Global Diversity and Inclusion survey conducted across 25 industries in 40 countries by over 3,000 respondents, 76% of those interviewed value or prioritise Diversity and Inclusion programmes, and only 10% of business leaders do not communicate regularly about D&I. Despite this, only 42% of employees surveyed believe that their organisation makes information about diversity of employees and leadership teams available.

While implementing appropriate policies for diversity, equity and inclusion are important, as expressed by many organisations, survey findings suggest that there is a distinct disconnect between organisational practices and how employees view these. This is likely a result of ineffective communications between organisations and their stakeholders. To reconcile the disconnect with their stakeholders, organisations must analyse the impact of their internal and external communications. 

Communicating Diversity, Equity and Inclusion Internally

In the first instance, organisations must consider their internal stakeholders understanding of DE&I and evaluate communications tactics that are most appropriate for creating an inclusive environment and mutual understanding. DE&I starts from within. In recruitment, organisations should aim to attract a diverse workforce. Not only does diversity drive organisational culture, it also contributes significantly to the profitability of organisations. According to a Harvard Business Review study, companies with greater diversity in the workplace earn up to 69% more in net income and revenue, and also showcase greater customer satisfaction. 

Whilst adopting and communicating DE&I practices can be challenging, in order to be successful in the 21st century business landscape, it is essential to operate a fully inclusive organisation. 

Organisations must also ensure that communications relating to DE&I are empathic and transparent in order to build trust, respect and a sense of belonging for all employees. Internal communications should facilitate a dialogue about topics that concern team members, and employees should be given the opportunity to evaluate their employers DE&I practices and provide feedback where possible. Organisations can engage employees by hosting regular discussions about inclusion and employee experience, creating a forum for individuals to discuss DE&I concerns. Information about the organisations approach to DE&I should also be made available to all employees, to ensure optimum transparency.

Internal communications tools should provide employees with a safe space to share thoughts. Platforms and forums for communications about DE&I must be free from oppressive opinions, instead enabling members to listen, ask questions and express viewpoints openly with the view towards educating or being educated.

Communication Diversity, Equity and Inclusion Externally

Once an organisation has adopted appropriate practices for the internal communication of DE&I, they must consider how their values are showcased to external stakeholders. 

In a similar way to communicating DE&I to internal stakeholders, transparency is key to building trust with external stakeholders. Where possible, organisations should make information about DE&I policies and programmes readily available to external stakeholders. Regardless of performance and intentions, failure to be transparent can appear deceptive. 

Making external stakeholders aware of aspirational DE&I goals and highlighting the outcomes of current practices also plays a key role in positioning your organisation as a provider of equal opportunities. Even if your organisation isn’t currently performing well in this space, showcasing aspirations indicates that the organisation is willing to implement changes over time to reach DE&I goals, whilst showcasing actions taken indicates that you are committed to working towards these goals, and have already begun the journey to becoming more inclusive. Any communication shared about DE&I must be fully transparent and accurate. In the first instance, employees should be made aware of DE&I within the organisation, prior to sharing information externally. 

While adopting and communicating DE&I practices can be challenging, in order to be successful in the 21st century business landscape, it is essential to operate a fully inclusive organisation. 

First published in Strategic Magazine