Don’t want to lose your Gen Z and Millenial talent? Here’s what you can do, Deloitte, by Michele Parmelee
At many organizations, turnover troubles are becoming particularly pronounced amongst Gen Z and millennial employees. While workers of all generations are looking for choice, agency, and meaningful career paths, Deloitte’s research highlights some of the priorities that are going to be top of mind for younger generations. These considerations include reducing stress and burnout by creating better work-life balances, cultivating a positive culture that empowers all employees, and helping workers find more meaningful projects and responsibilities. In fact, nearly two in five employees within this age group report rejecting jobs or assignments that don’t align with their values. Hybrid working is another top priority, with approximately 75% of Gen Z and millennial employees noting that they would prefer more flexible work schemes.
The Collective Intelligence of Remote Teams, MIT Sloan Management Review, by Christoph Riedl, Thomas W. Malone, and Anita W. Woolley
Some leaders are focusing too heavily on where work gets done when they should really be thinking about how it’s being carried out and who is doing it, the authors of this MIT Sloan Management Review piece argue. They point to a study they conducted, in which researchers analyzed the results of more than 5,000 participants in over 1,300 groups across 22 different samples. The key finding? Group working remotely can be as effective as collaborating face to face. Similarly, there’s very little difference in the factors that explain the collective intelligence of the face-to-face and remote teams, suggesting both groups can work equally effectively on a wide range of tasks.
Tapping into Fluid Talent, Boston Consulting Group, by Nithya Vaduganathan, Colleen McDonald, Allison Bailey, and Renee Laverdiere
As workplace dynamics change and the global labor shortage continues, businesses must tap into what Boston Consulting Group refers to as “fluid talent”, such as former employees, freelancers, and workers in other departments. The authors go on to highlight several companies that are getting fluid talent management practices right, including one of Gloat’s earliest partners, Seagate. The piece details some of the results that the global data storage solutions provider has achieved with its platform, including an estimated 35,000 unlocked hours and $1.4 million in savings in just four months.
How Virtual Work is Accelerating Innovation, McKinsey, by Federico Berruti, Alex Morris, Gisele Ho, Phil Kirschner, Sophie Norman, and Erik Roth
It’s not your imagination—innovation and digitization have been happening at a record-breaking pace over the past few years. This McKinsey article explores how this surge in innovation is impacting the way we work, and the benefits that businesses are reaping from it. Most notably, innovative companies are tapping virtual work to attract more specialized and diverse talent, in turn cultivating more inclusive workforces. Additionally, some organizations are achieving productivity gains by recognizing that virtual teams can avoid unnecessary distractions and experience more effective and uninterrupted workflows.
Rise of the relatable organization, Global Talent Trends Study 2022, Mercer
After surveying 11,000 C-suite executives, HR leaders, and employees, Mercer’s latest Global Talent Trends Study reveals something important about what organizations need to do to succeed in the new world of work: maintain a focus on becoming more human, and in turn, more relatable. Their research spotlights five key trends, which include:
- Resetting for relevance
Embracing new work operating systems to attract and retain talent by reflecting their values
- Work in partnership
Empower employees to work collaboratively and cross-functionally, both within and outside their organization
- Deliver on total wellbeing
Engage the whole person to drive sustainability and encourage healthy behaviors
- Build for employability
Build pathways to prosperity by becoming a skills-based organization
- Harness collective energy
Design human-centric work experiences and build a relatable People function