Nearly half of Americans are dissatisfied with their career, with 33% feeling they are at a “dead end” and other 21% ready to change careers, according to a recent Harris Interactive nationwide survey. When you consider that 70% of employees feel that their sense of purpose in life is defined by their work, according to a Deloitte study, that equates to more than one-third of the total workforce not being even remotely fulfilled by what is the number one priority in their lives.
Believe it or not, the job satisfaction rating has actually improved quite a bit, increasing more than 10 points from 2010 to 2020. Significant drivers of the high satisfaction rating in 2020 include people being thankful they were gainfully employed and the ability to work from home with flexible hours. Some key statistics related to Covid’s impact on employees include:
- 3…the number of additional hours that employees are working per day compared with before the pandemic started.
- 56%…the percentage of teams still using some form of remote work at the end of 2020.
- 27%…the percentage of workers expected to continue working remotely through 2021.
- 86%…the proportion of employees who’d prefer working from home permanently, even on a part-time basis.
- 17%…the number of workers who would quit if they are required to return to the office 5 days per week.
Employees Are Everything
Good products, customers, and processes are all important, but a company will not thrive without great employees. This quote says it best:
“Organization doesn’t really accomplish anything. Plans don’t accomplish anything either. Theories of management don’t matter much. Endeavors succeed or fail because of the people involved.”
General Colin Powell
Former Secretary of State & Chairman of the Joint Chiefs of Staff
The Biggest Challenge
The most significant challenge businesses face today has to do with talent: getting it and keeping it. This should be a top priority for all CEOs and business owners, especially when they’re in a high-growth mode. After all, according to Simon Sinek, “Your people are your company.”
I recently read a book by Gallup called It’s the Manager, which states that the quality of managers and team leaders is the single biggest factor in your organization’s long-term success. I know from experience that everyone in your company needs to know how their role contributes to the company’s success – including the receptionist.
Keeping your people engaged, productive and happy comes down to and starts with communication. A recent Imperative survey found that peer coaching can be a huge benefit, with 65% of employees feeling more fulfilled, 73% of employees feeling a sense of belonging, 67% more likely to report being a top performer, and 50% more likely to stay 5 years or more.
Beyond peer coaching, here are some ways to engage with your employees:
- Share company goals and objectives consistently
- Review and discuss customer expectations monthly
- Ensure employees are focused on your customers and understand the customer experience
- Keep communication open between customers and the executive team
- Connect processes to the customer experience
- Thank your employees regularly – and let them know how they contributed to your company’s growth
I’m hosting a free workshop to help prepare for investor funding on Tuesday, September 21 at 11am Eastern. However, if you feel you’re ready to pitch investors to get funded, contact me about presenting at our next CONNECTpreneur meeting on September 30, 2021.
To learn more on how to effectively prepare for funding and drive change management, contact me for a complimentary consultation by phone at 314-578-0958 or by email at email@example.com.
Ines LeBow is the CEO, Transformation Executive for ETS. She is a known catalyst for business operations, bringing 30+ years of hands-on experience. Ines has a long history of being recruited into senior executive roles to improve the execution of business operations and to drive revenue growth. You can see her LinkedIn Profile at www.linkedin.com/in/ineslebow, view the ETS website at www.transformationsolutions.pro, or email her directly at firstname.lastname@example.org.