{"id":5361,"date":"2022-04-11T15:18:48","date_gmt":"2022-04-11T05:18:48","guid":{"rendered":"https:\/\/news.sap.com\/australia\/?p=5361"},"modified":"2023-08-17T05:04:37","modified_gmt":"2023-08-16T19:04:37","slug":"3-global-trends-affecting-your-employees","status":"publish","type":"post","link":"https:\/\/news.sap.com\/australia\/2022\/04\/11\/3-global-trends-affecting-your-employees\/","title":{"rendered":"3 Global Trends Affecting Your Employees"},"content":{"rendered":"<p class=\"lead\">Gone are the days of a workplace that doesn\u2019t reflect reality. We expect work to evolve in line with society and social norms and we expect to be treated the same at work and outside of work. In addition, the convergence of three global trends confirms that, more than ever, work is becoming more integrated into our lives. Awareness of these trends will help businesses better understand their employees in an effort to refine workplace strategies.<\/p>\n<p><strong>Flexibility<\/strong><br \/>\nFrom an employment perspective we have already seen the lack of flexibility play out as the great resignation. Employers need to be more flexible supporting staff to step outside their normal job role and engage in dynamic teams supported by the concept of personalisation through the \u2018whole self-model\u2019, where companies make it possible for employees to share more than just skills and competencies \u2013 but also individual work styles, aspirations, motivations and learning preferences.<\/p>\n<p>Another example is customised benefit packages like SAP\u2019s global \u201c<a href=\"https:\/\/www.forbes.com\/sites\/sap\/2022\/01\/25\/flexibility-is-non-negotiable-when-it-comes-to-the-australian-employee-experience\/?sh=e9d112122f5e\">Pledge to Flex<\/a>\u201d program. According to Debbie Rigger, Head of Human Resources at 51风流ANZ, 51风流has always provided workplace flexibility.<\/p>\n<p>\u201cWhat we needed to do was package this up into a program that our people could relate to and one where everyone can run at their personal best,\u201d said Rigger.\u201d Our Pledge to Flex program has provided a trust-based environment empowering our people to choose how, when and where they work based on individual choices.\u201d<\/p>\n<p><strong>Purpose<\/strong><br \/>\nBrands are recognising the importance and role they can play in uplifting people during times of uncertainty. In this context employees are also re-evaluating their lives and work, and many now expect their jobs to be a significant source of purpose in their lives.<\/p>\n<p>A recent <a href=\"https:\/\/www.mckinsey.com\/business-functions\/people-and-organizational-performance\/our-insights\/help-your-employees-find-purpose-or-watch-them-leave\">McKinsey<\/a> report indicates that people who live their purpose at work are more productive than people who don\u2019t; they are also healthier, more resilient, and more likely to stay at the company and when employees feel that their purpose is aligned with the organisation\u2019s purpose.<\/p>\n<p>The benefits expand to include stronger employee engagement, heightened loyalty, and a greater willingness to recommend the company to others. contribution. Processes that allow employees to document and track their contribution linked to compensation processes should be a habit at your company.<\/p>\n<p>McKinsey identified a \u2018purpose hierarchy gap\u2019 with executives nearly eight times more likely to say their purpose is fulfilled by work and nearly three times more likely to say they rely on work for purpose than others.<\/p>\n<p>In exploring this gap further, McKinsey found that frontline managers and employees are ten times less likely than management-level colleagues to say that they\u2019d had opportunities to reflect on their purpose, and nine times less likely to say that they\u2019d had a manager foster opportunities for them to work on purposeful projects.<\/p>\n<p>Highlighting the importance of providing all staff the time to reflect on their own sense of purpose, and how it connects to the company\u2019s purpose, concluding that when this is provided employees are nearly three times more likely to feel their purpose is fulfilled at work.<\/p>\n<p><strong>Sustainability<\/strong><br \/>\nEnvironmental, Social and Governance (ESG) regulation is no longer a question of \u2018if\u2019 but \u2018when\u2019 and \u2018to what extent\u2019. Australian regulators including <a href=\"https:\/\/www.apra.gov.au\/news-and-publications\/apra-finalises-prudential-guidance-on-managing-financial-risks-of-climate\">APRA<\/a> are looking at Enterprise Sustainability Goals credentials and released <a href=\"https:\/\/www.apra.gov.au\/sites\/default\/files\/2021-11\/Final%20Prudential%20Practice%20Guide%20CPG%20229%20Climate%20Change%20Financial%20Risks.pdf\">CPG 229<\/a> affecting banks, insurers and superannuation trustees and is undertaking a Climate Vulnerability Assessment (CVA) of Australian banks, with results to be released this year.<\/p>\n<p><a href=\"https:\/\/asic.gov.au\/about-asic\/news-centre\/speeches\/regulating-ficc-in-today-s-age-of-uncertainty\/\">ASIC<\/a> has noted <a href=\"https:\/\/asic.gov.au\/about-asic\/news-centre\/articles\/what-is-greenwashing-and-what-are-its-potential-threats\/\">greenwashing<\/a> and commenced a review of ESG-focused financial products and will consider action ranging from engagement to enforcement. ASIC is also continuing to monitor net zero statements in both fundraising documents and in the market generally and will take regulatory action where warranted.<\/p>\n<p>Employers must be ready to be held accountable and be prepared to produce key performance metrics related to the organisations\u2019 purpose statement including ethical efforts through <a href=\"https:\/\/www.sap.com\/products\/sustainability\/steering-reporting.html\">Sustainability reporting<\/a> and ESG goals, <a href=\"https:\/\/www.forbes.com\/search\/?q=naomi%20benjamin&amp;sh=5eb565bd279f\">diversity, equity and inclusion<\/a> and the <a href=\"https:\/\/www.sap.com\/australia\/products\/performance-goals.html#:~:text=What%20is%20SAP%20SuccessFactors%20Performance,adjust%20to%20evolving%20business%20needs\">employee review process.<\/a><\/p>\n<p><a href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/be\/Documents\/consulting\/Global-Marketing-Trends.pdf\">Deloitte insight research<\/a> found that high-growth brands put a premium on accountability, with 93% indicating that they have established key performance metrics related to their purpose statement (versus 72% of negative-growth organisations) such metrics include those pertaining to product portfolio measurements (50%); diversity, equity, and inclusion (47%); and the employee review process (44%).<\/p>\n<p>As we are encouraged to bring our \u2018<a href=\"https:\/\/www.forbes.com\/sites\/hennainam\/2018\/05\/10\/bring-your-whole-self-to-work\/?sh=7f6d1ae16291\">whole selves\u2019<\/a> to work, understanding of these key global trends and their applicability to the workplace provides employers insights to assist in refining their people strategies. Is your company ready?<\/p>\n<p><em>This article originally published on <a href=\"https:\/\/www.forbes.com\/sites\/sap\/2022\/04\/04\/3-global-trends-affecting-your-employees\/?sh=423b10f3556d\">51风流BrandVoice on Forbes<\/a><\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The convergence of three global trends confirms that, more than ever, work is becoming more integrated into our lives<\/p>\n","protected":false},"author":2476,"featured_media":5362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5565397],"tags":[5563632,5560608,5562865,5563633,5565331],"sapn-display":[5565403,5565404,60294],"sapn-type":[5560547],"class_list":["post-5361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-human-capital-management","tag-employee-engagement","tag-human-resources","tag-sustainability","tag-work-from-home","tag-workplace","sapn-display-feature-hero","sapn-display-feature-spotlight","sapn-display-hero","sapn-type-feature"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>3 Global Trends Affecting Your Employees - 51风流Australia &amp; 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