The workplace ecosystem has changed drastically in recent years. Long hours and intense competition are no longer recognized as the keys to employee loyalty. Today's workforce values a holistic approach to work. While financial stability is important, employees today seek work opportunities and experiences that promote personal and professional growth. They want to feel appreciated and empowered as they pursue their professional ambitions in a supportive setting.
Creating a healthy and growth-oriented work environment is not only advantageous but also essential for attracting and retaining top talent. A thriving, supportive, and diverse workplace not only boosts employee morale but also organisational performance. It encourages innovation, increases productivity, and ultimately propels the business in the competitive marketplace.
Investing in employee well-being and development isn't just an effective people management approach, it's a strategic imperative for long-term sustainability for organisations.
There are several ways for companies to create a positive environment that motivates employees:
Fostering a culture of transparency and open communication: Employees flourish when they feel informed and have a voice. To promote openness in communicating the company's purpose, goals, mission, and actions, the management should organise periodic town halls, encourage speak up sessions, and enable effective utilisation of internal communication channels. Fostering open and continuous communication allows employees' comments to be heard and handled, resulting in a more collaborative and engaged workforce.
Invest in Employee Development and Career Growth: Today's employees desire chances to learn and advance in their professions. The management should prioritise employee development by funding learning and development programs, mentorship efforts, and career planning seminars. Encompassing a development target for the employees should be encouraged to enhance skillsets to be future-ready. This displays a commitment to employees' long-term development and fosters a motivated workforce.
Encouraging collaboration and rewarding employees: Success is not just about one person; it is about the entire team working cohesively towards a shared goal. By encouraging employee collaboration, organisations can recognise and leverage each team member’s unique skills and talents.
Recognising and rewarding an employee’s achievement is equally essential. A 2023 Gallup report found that quiet quitting was seen in almost six out of 10 employees globally. Along with being actively disengaged, quiet quitting can cost the global economy $8.8 trillion. [1] Rewards and recognition not only help management to overcome this challenge, but also increase engagement and reduce attrition rates, which ultimately benefits the company's bottom line.
Nurturing diversity, equity, and inclusion: Inclusivity, equity, and diversity have far more depth and nuance in workplaces. Cultivating diversity and inclusiveness within leadership is essential as it enables to build stronger, more effective teams. These values can help to ignite creativity by bringing together people of diverse genders, socioeconomic situations, races, and faiths to share their distinctive ideas and experiences.
Varied points of view must be encouraged, and different backgrounds, experiences, and expertise should be welcomed. With this, employees feel empowered, encouraging them to put forth different ideas and ways to effectively manage challenges and encash opportunities.
Feedback and reviews: Feedback is an effective tool for promoting growth and advancement inside an organisation. It acts as a guide, emphasising the areas of strength and need for improvements. Feedback should not be unidirectional. Encouraging a 360-degree feedback is equally important and can help the organisation understand the general perception amongst their employees.
Continuous feedback also assists young employees (beginners) in finding out their career path. Giving them the chance to explore different opportunities within the business will help them identify their professional interests and can aid them in expanding their career within the organisation, leading to a higher rate of talent retention.
Evolving Workforce Dynamics
As workforce dynamics continue to evolve, establishing a culture of positivity and growth becomes even more important. To maximise their potential, employees need to feel valued and supported. Through my career, which began in finance, my organisation recognized my potential and encouraged me to develop the necessary skillsets and explore opportunities. After working in Finance, Business Administration, Enterprise Services, and Sales functions across Software Engineering, IT Consulting, and Healthcare verticals, today I am heading Siemens Healthcare as Managing Director for Zone India.
Professional growth stories, including mine amongst countless others from within Siemens Healthineers highlight the positive impact of effective people management strategies. It demonstrates how an organisation's support and growth structure can propel individuals to new levels of professional success.
By investing in its employee’s growth, an organisation can provide a sense of loyalty and belonging, leading to long-term retention; hence, the onus is on organisations and more so on the managers to act as catalysts that unlock the unique potential in each employee.
In a nutshell, an empowered workforce is a key to sustainable business success. Investing in the growth of your employees is a commitment to nurturing talent and promoting long-term success.
—The author, Hariharan Subramanian, is Managing Director, Siemens Healthcare, India. The views expressed are personal.
Creating a healthy and growth-oriented work environment is not only advantageous but also essential for attracting and retaining top talent. A thriving, supportive, and diverse workplace not only boosts employee morale but also organisational performance. It encourages innovation, increases productivity, and ultimately propels the business in the competitive marketplace.
Investing in employee well-being and development isn't just an effective people management approach, it's a strategic imperative for long-term sustainability for organisations.
There are several ways for companies to create a positive environment that motivates employees:
Fostering a culture of transparency and open communication: Employees flourish when they feel informed and have a voice. To promote openness in communicating the company's purpose, goals, mission, and actions, the management should organise periodic town halls, encourage speak up sessions, and enable effective utilisation of internal communication channels. Fostering open and continuous communication allows employees' comments to be heard and handled, resulting in a more collaborative and engaged workforce.
Invest in Employee Development and Career Growth: Today's employees desire chances to learn and advance in their professions. The management should prioritise employee development by funding learning and development programs, mentorship efforts, and career planning seminars. Encompassing a development target for the employees should be encouraged to enhance skillsets to be future-ready. This displays a commitment to employees' long-term development and fosters a motivated workforce.
Encouraging collaboration and rewarding employees: Success is not just about one person; it is about the entire team working cohesively towards a shared goal. By encouraging employee collaboration, organisations can recognise and leverage each team member’s unique skills and talents.
Recognising and rewarding an employee’s achievement is equally essential. A 2023 Gallup report found that quiet quitting was seen in almost six out of 10 employees globally. Along with being actively disengaged, quiet quitting can cost the global economy $8.8 trillion. [1] Rewards and recognition not only help management to overcome this challenge, but also increase engagement and reduce attrition rates, which ultimately benefits the company's bottom line.
Nurturing diversity, equity, and inclusion: Inclusivity, equity, and diversity have far more depth and nuance in workplaces. Cultivating diversity and inclusiveness within leadership is essential as it enables to build stronger, more effective teams. These values can help to ignite creativity by bringing together people of diverse genders, socioeconomic situations, races, and faiths to share their distinctive ideas and experiences.
Varied points of view must be encouraged, and different backgrounds, experiences, and expertise should be welcomed. With this, employees feel empowered, encouraging them to put forth different ideas and ways to effectively manage challenges and encash opportunities.
Feedback and reviews: Feedback is an effective tool for promoting growth and advancement inside an organisation. It acts as a guide, emphasising the areas of strength and need for improvements. Feedback should not be unidirectional. Encouraging a 360-degree feedback is equally important and can help the organisation understand the general perception amongst their employees.
Continuous feedback also assists young employees (beginners) in finding out their career path. Giving them the chance to explore different opportunities within the business will help them identify their professional interests and can aid them in expanding their career within the organisation, leading to a higher rate of talent retention.
Evolving Workforce Dynamics
As workforce dynamics continue to evolve, establishing a culture of positivity and growth becomes even more important. To maximise their potential, employees need to feel valued and supported. Through my career, which began in finance, my organisation recognized my potential and encouraged me to develop the necessary skillsets and explore opportunities. After working in Finance, Business Administration, Enterprise Services, and Sales functions across Software Engineering, IT Consulting, and Healthcare verticals, today I am heading Siemens Healthcare as Managing Director for Zone India.
Professional growth stories, including mine amongst countless others from within Siemens Healthineers highlight the positive impact of effective people management strategies. It demonstrates how an organisation's support and growth structure can propel individuals to new levels of professional success.
By investing in its employee’s growth, an organisation can provide a sense of loyalty and belonging, leading to long-term retention; hence, the onus is on organisations and more so on the managers to act as catalysts that unlock the unique potential in each employee.
In a nutshell, an empowered workforce is a key to sustainable business success. Investing in the growth of your employees is a commitment to nurturing talent and promoting long-term success.
—The author, Hariharan Subramanian, is Managing Director, Siemens Healthcare, India. The views expressed are personal.
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