Challenging organisations to rethink their EVP
There is a perception that because today’s workplace is hybrid by default, culture and leadership will suffer. But is this true?
FAnews spoke to Thokozile Mahlangu, CEO of the Insurance Institute of South Africa (IISA) about the new working environment, challenging organisations to rethink their employee value proposition (EVP) and more.
Concerns about culture and leadership
With hybrid and remote work models having become the norm in a post-pandemic reality, Mahlangu said that many companies and managers are fearing that hybrid work will ultimately dilute corporate culture and leadership. “However, considering that modern ways of working are changing how employees perceive and experience work, current culture and leadership strategies are perhaps no longer realistic.”
“According to Gartner, most employees see the far-reaching transition to flexible work as a net positive for the culture of their organisation. The consultancy notes that 64% of hybrid and 66% of remote employees say that their organisation’s culture has a positive impact on their job, compared to only 52% of on-site employees. But this requires work, as organisational culture needs to be strong enough to attract and retain top talent, drive performance and meet business objectives. It is also important that organisations understand how the new environments, both virtual and home, in which employees are spending more time influence how they behave,” she said.
A supportive culture
With remote work now having become the new normal, Mahlangu said it is crucial for companies to set up and create the culture they want across their organisation. But establishing an effective company culture goes beyond just getting work done.
“Some of the benefits that a company can gain from the right culture is that it can raise employee morale, reduce absenteeism and improve worker productivity are some of the many benefits a company can gain. Perhaps one of the most important things for organisations to remember is that the best thing they can do for their employees, as they transition to remote work models, is to be as transparent as possible and maintain regular communication,” she said.
“Companies should also make sure that they schedule regular meetings with their team to encourage collaboration and reduce feelings of isolation, while also checking in with each team member to set expectations and find out what they need from management. Hence, distance does not have to be a barrier, especially when companies have the right tools and technologies at their disposal to facilitate communication and connectivity. This will keep their remote workers engaged, productive and happy,” she continued.
Rethinking EVPs
“It can be argued that traditional EVPs have long become generic statements that are not only underwhelming but also fall short of being able to attract diverse and in-demand talent. Yet, EVPs should be frameworks that distinguish companies from their competitors in the job market and should be leveraged to gain employee engagement,” she said.
“EVPs are a unique collection of benefits that an employee can expect in return for the skills, capabilities and experience that they contribute to an organisation. As such, it should go without saying that EVPs should change for hybrid work and respond to the change in workers’ expectations. Additionally, as tough economic conditions continue to prevail, companies are increasingly looking to means other than compensation to attract and retain talent. As such, shorter work weeks are increasingly becoming important EVPs that are attracting increasing interest around the world. As such, organisations are having to review roles and processes to ensure that a shorter work week is possible,” she emphasised.
“It is also very important that companies consider the impact of this approach on operational continuity and customer engagement. Essentially, organisations need to ensure that they do not experience lapses in service delivery during peak hours due to insufficient staff,” she added.
The importance of company culture
“Current workplace trends suggest that Millennial and Generation Z employees value company culture more than any other generation that has come before. While corporate culture is not a new concept, it is only recently that it has started to become a bigger priority for employees. In fact, according to Deloitte, while salary is the most important factor in deciding on a job, Generation Z and Millennials value salary less than every other generation,” said Mahlangu.
“Organisations must thus realise that attracting the interest of the current generation of workers requires that they are able to demonstrate their efforts to be good global citizens. Of course, the best way to achieve this is through actions, rather than words, so companies must be able to show that their organisational culture is aligned with their commitment to addressing a broader set of societal challenges such as sustainability, climate change and poverty,” she added.
Mentoring in the digital age
On another important note, “mentoring in the digital age is evolving to increasingly become a two-way trusted relationship where both parties will learn and grow personally and professionally. Essentially, the mentor guides the person they are spending time with, while also experiencing growth on a personal and professional level,” she continued.
“Crucially, the paradigm shift around mentoring in the digital age means that people can be mentored anywhere at any time, with very few barriers due to the internet and technology. This means that people can now be mentored through online engagement from the comfort of their own homes, reach out to whomever they need to – even those who are not in their immediate network – and also take advantage of opportunities for more frequent and constant guidance. The online space has created access to an unlimited group of mentors, enabling people to seek guidance and advice from a multitude of experts, ranging from peers to CEOs,” she concluded.
Writer’s Thoughts
Organisations should embrace change, adapt their strategies to the evolving work landscape, and prioritise transparent communication, supportive cultures, and innovative approaches to employee engagement and development. Do you agree? Please comment below, interact with us on Twitter at @fanews_online or email me myra@fanews.co.za
