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The last couple of years in this COVID environment have impacted business in a variety of ways. Several trends have emerged that will further affect organizations in 2022. Some of the statistics that are driving trends this year are:
- 64% of employees do not feel engaged in their current work (Gallup)
- 82% of employees feel that their managers do not appropriately appreciate and recognize their contributions (OC Tanner)
- Where possible, companies are “reskilling” or “upskilling” current employees rather than hiring new workers for particular jobs.
- 70% of employers expect to automate elements of their talent acquisition efforts over the next decade (Career Builder)
- 50% of companies already use Artificial Intelligence (AI) to source and screen candidates
- Virtual Reality (VR) tools are increasingly used for recruiting, onboarding, and training employees.
- Today’s workplace includes traditional, remote, and hybrid workplace models.
Trend #1: Increasing Employee Engagement
Gallup surveys report that only 36% of the U.S. workforce is engaged, and 14% is actively disengaged. Because employee engagement impacts so many factors, it’s critical that company leaders and managers take necessary steps to increase employee engagement. When companies have a high level of engagement, these are just a few of the benefits realized:
- 10% increase in customer loyalty/engagement
- 23% increase in profitability
- 18% increase in productivity (sales)
- 14% increase in productivity (production records and evaluations)
- 64% decrease in safety incidents (accidents)
- 28% decrease in shrinkage (theft)
- 81% decrease in absenteeism
- 58% decrease in patient safety incidents (mortality and falls)
- 41% decrease in quality (defects)
- 66% increase in wellbeing (thriving employees)
- 13% in organizational citizenship (participation)
Trend #2: Use of Recognition and Rewards to Boost Morale & Retention
One of the ways in which companies are increasing engagement is to implement structured employee programs to reward and recognize achievement and employee contributions. Employee incentive, reward & recognition and performance improvement programs help to communicate the company’s direction. When companies consult with Incentive Professionals to design these programs, they ensure that individual and team goals are aligned with company goals, resulting in a higher level of success. Personalized rewards that are meaningful to your participants are most effective, and an experienced professional can guide those options.
Trend #3: Reskilling and Upskilling Employees
One of the reasons for the current Great Resignation is that employees do not see a path to future responsibilities within their current organizations. In many cases, employers have not invested in resources and programs that provide ways in which employees can acquire new skills. Forward-thinking employers recognize that retraining or reskilling current employees is far less expensive and far more beneficial to the organization than hiring and training new employees.
For help in increasing engagement in your organization, contact us today! Watch this space for Part 2 of the factors that are driving business trends in 2022.