By focusing on six fundamental human needs through work,
companies can unlock more of their people’s potential, bolster
trust and see an increase in business performance — even in times
of crisis or amid weak GDP growth, according to a new research
report from Accenture (NYSE: ACN).
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Workplace Trust: How to elevate people
and boost your business (Photo: Business Wire)
Titled “Care to Do Better: Building Trust to Leave Your People
and Your Business Net Better Off,” the report is based on surveys
of 3,200 C-suite executives (“CXOs”) and more than 15,000 workers
spanning 15 industries and 10 countries.
The research introduces a framework called “Net Better Off,”
which centers on the six distinct and connected dimensions that
leaders must focus on to unlock their people’s potential:
- Emotional & Mental. Feeling
positive emotions and maintaining mental wellness (e.g., a sense of
accomplishment, compassion, happiness, fulfillment and
optimism);
- Relational. Feeling a strong sense
of belonging and inclusion and having many strong personal
relationships;
- Physical. Being in good physical
health and equipped to take on normal daily stresses;
- Financial. Being financially
secure without undue economic stress or worry and having equitable
opportunity for future economic stability and advancement;
- Purposeful. Feeling that one makes
a positive difference to the world and that life has meaning and a
greater sense of purpose beyond oneself; and
- Employable. Having marketable,
in-demand capabilities and skills that make it easy to obtain good
jobs and equitable career-advancement opportunities.
A key finding: Nearly two-thirds (64%) of people’s potential at
work, defined as using and developing their skills each day, is
influenced by whether or not they feel better off across the six
dimensions. Further, while the emotional, relational and purposeful
dimensions are the strongest drivers of positive employee behavior,
most employers focus their efforts on only the employable and
financial dimensions.
“Providing an environment that inspires both trust and people to
work to their full potential lifts both the individual and the
business — and this is even more true during times of crisis,” said
Ellyn Shook, Accenture’s chief leadership and human resources
officer. “Ultimately, the compounding health, economic and social
crises will pass; people will remember how they were treated and
make choices about who they want to work for and where they’ll do
business. Organizations that recognize this now and help their
people become Net Better Off, will win in the market of the
future.”
The Net Better Off Gap
The research identified a significant gap pre-pandemic regarding
where the responsibility for making people Net Better Off at work
lies — with workers then far more likely than CXOs (67% vs. 35%) to
say that the responsibility lies with the employer.
However, this gap has shrunk during the pandemic — to 78% vs.
50% — indicating that CXOs are moving in the right direction and
taking responsibility for making their people Net Better Off, but
still have work to do to better align with their people on
expectations.
Five “Sweet Spot” practices that deliver for people and the
organization
Accenture’s analysis found that organizations that make their
people Net Better Off and implement specific organizational
practices could achieve incremental revenue growth of as much as 5%
even when GDP growth is weak, as it is now.
Using statistical testing, Accenture sorted through more than 20
practices that have the potential to help people become Net Better
Off and improve business performance, then identified five “Sweet
Spot” practices that deliver the greatest impact in both areas:
- Enable continuous learning to
ensure a future-ready workforce can shift at scale.
- Listen to what your people need at
the front lines, empowering them with real-time data.
- Use technology to enable flexible
work arrangements and more creative work for your workforce that is
increasingly dispersed.
- Champion workforce well-being and
equality. Safety and relational needs are more important than
ever.
- Set and share your people metrics.
Set accountability for diversity and equality, be transparent and
engage in intentional conversations that matter to your
people.
The Modern HR Leader
The report notes that to succeed in this new era, chief human
resources officers (CHROs) must change the way they think about
their own job, championing the dimensions of Net Better Off and the
Sweet Spot practices. Acting as catalysts for growth and culture
change, this new type of CHRO — what Accenture refers to as “Modern
HR leaders” — moves beyond efficiency and process execution to
create experiences grounded in care for people and concern for
their communities, while accelerating the performance of the
business.
“To ensure that their companies continue to thrive, especially
during challenging economic and social times, CHROs must return to
their most fundamental mission: caring for workers and unlocking
their potential,” said Dr. David Rodriguez, Marriott
International’s global CHRO and co-author of the report. “The
workplace provides an opportunity for building self-worth and
belonging, and the alignment of values and purpose strengthens both
the person and the organization.”
TWEET: Companies that bolster #trust and unlock people’s
potential can see an increase in business performance – even in
times of crisis or amid weak GDP by following new Accenture
#NetBetterOff framework. http://accntu.re/ModernHR
Read the full report at
https://www.accenture.com/us-en/insights/future-workforce/employee-potential-talent-management-strategy.
About the Research
The report is based on four proprietary Accenture research
initiatives: a survey of 15,665 workers across skill levels and
generations; a survey of 3,200+ C-level executives, split evenly
between HR decision-makers and CXOs; 35 in-depth interviews with
CHROs, CEOs and academic experts; and econometric modeling to
determine the relationship between Net Better Off and companies’
revenues. Both surveys were conducted in 10 countries (Australia,
Brazil, Canada, France, Germany, Japan, Spain, Singapore, the
United Kingdom and the United States); covered 15 industries
(aerospace & defense, banking, communications, consumer goods
& services, energy (oil and gas), freight & logistics,
health, insurance, media, public sector, retail, technology (high
tech), travel, U.S. federal government, utilities); and were
conducted between October 2019 and July 2020.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services in strategy and consulting,
interactive, technology and operations, with digital capabilities
across all of these services. We combine unmatched experience and
specialized capabilities across more than 40 industries — powered
by the world’s largest network of Advanced Technology and
Intelligent Operations centers. With 513,000 people serving clients
in more than 120 countries, Accenture brings continuous innovation
to help clients improve their performance and create lasting value
across their enterprises. Visit us at www.accenture.com.
“Copyright © 2020 Accenture. All rights reserved.”
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Tourang Nazari Accenture +1 202 3224640
tourang.nazari@accenture.com Sam Hyland Accenture +1 914 924 1749
samuel.hyland@accenture.com
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