NEW
YORK, Oct. 20, 2021 /PRNewswire/ -- While
competitive pay and generous perks are key to employee satisfaction
and retention, a new global study by Weber Shandwick management
consultancy United Minds and KRC Research reveals that the ability
to make a meaningful contribution to the job is just as important.
Dubbed The Contribution Effect, the study reveals that
while employees want to retain the agency and flexibility they
gained during the pandemic, feeling appreciated and motivated for
their contributions are two of the top three predictors of
retention and satisfaction today (the top predictor being working
in a positive environment).
"Given our collective new 'workplace normal', we set out to
assess the key drivers of employee
satisfaction, retention and advocacy amid today's
unprecedented war for talent. We talked to nearly 2,800
office-based, front-line and trade/manufacturing employees in seven
countries, and discovered that across this diverse sample, a strong
employee experience rests on opportunities for workers to do
valued, fulfilling work," said Kate
Bullinger, CEO, United Minds.
The Contribution Effect and Employee
Retention
While flexible work and innovative benefits are dominating the
conversation about how to retain talent as companies navigate the
Great Resignation, that's not the only discussion companies should
be having.
"Our research shows employees want a fair deal. They want a
culture that's inclusive and safe. And they want agency to do their
work on their terms. However, often the missing link in building a
loyal and thriving workforce is empowering people to do work that
enriches their lives. This is the moment for companies to
re-imagine their employee experience for a much different
employee-employer relationship in the future," Bullinger said.
In The Contribution Effect, United Minds considered
employee experience (EX) from two perspectives: stated importance
and derived importance. Stated importance addresses what employees
say is most important to them in an ideal job – what is top of mind
and often discussed at the negotiation table. Derived importance
gets under the hood using correlation analysis to understand how
well each of the 79 factors determines
what actually drives satisfaction, advocacy and
retention.
In evaluating EX in this manner, four key findings emerged,
which collectively form a comprehensive picture of the mutual
contributions necessary for shaping a best-in-class employee
experience. Furthermore, they provide a roadmap for executives
seeking to evolve and elevate their employee experience.
Pillar 1 – What's non-negotiable: Fairness and
safety
Employees expect to be treated fairly, feel
supported, secure and included regardless of role or
background. Getting a "fair deal" at and from work is more than pay
equity and job security. Yet, there's a troubling threat to
fairness. According to the research, 1 in 3 employees report
experiencing unfair treatment, including discrimination and
harassment at work – and unfair treatment represents the single
largest negative influence on EX. At the top of the list of those
reporting unfair treatment are people who are non-white,
ages 18-34 and cultural / religious minorities – with top reasons
being age (35 percent) and sex (22 percent).
Pillar 2 – What I give: Employee contributions are as
important as company benefits
Feeling valued for purposeful contributions is a strong
predictor of employee satisfaction, which means getting this driver
right is especially important. Simply put, people want to do good,
purposeful work and in turn, get recognized for it.
Among the findings, 70 percent of employees who report feeling
motivated are also satisfied with their jobs, versus 6 percent who
are not. Yet, three in 10 employees (30 percent) are not energized
to do their best work.
Pillar 3 – What I get: Employees appreciate agency and
balance
The ability to work remotely does not rank high in the factors
that truly drive retention (#58 out of the 79 factors). What does
rank high is achieving work/life balance (#5), indicating that
flexibility is important but only as a driver of true
balance.
"What matters in the long-term is what workplace flexibility
symbolizes. Giving people the autonomy to self-manage demonstrates
trust and confidence – and it conveys a willingness to listen and
to meet employees where they are," said Ben
Kalevitch, executive vice president, United
Minds.
Pillar 4 – What we create together: Employees seek meaningful
fun
Having a positive work environment and a fun place to work rank
number one and four, respectively, out of the 79 factors driving
derived satisfaction. More notably, employees who consider their
work environment to be positive are more than 7X more likely to
stay, while employees who experience fun at work are more than 5X
more likely to perceive their organization as among the
best.
In this instance, fun and positivity are about getting people
immersed in solving problems that are original, hard and
important. It's about creating deeper affinity to peers – and
ultimately, to the employer.
Contribution Quotient Scores Organizational EX, Shows Leaders
Fare Better than Others
To assess the degree to which an organization is offering a
superior employee experience, United Minds and KRC Research created
a Contribution Quotient (CQ) score that analyzes performance across
all four pillars above to assign an overall rating. The higher the
CQ, the more likely an organization's employees will stay, advocate
for the company and feel satisfied.
The average CQ across organizations in the study is 72 (out of
100), with only 17 percent of the data set achieving an "excellent"
score of 90 CQ or above.
Leaders fare better than individual contributors, with a 76 CQ
compared to 70 CQ, respectively. From an industry sector
perspective, professional services outperforms all others
at a 75 CQ.
Harassment and discrimination create the greatest divergence,
with a 16-point CQ reduction from those who have experienced unfair
treatment versus those who are treated fairly.
United Minds Launches nexus Model & Employee
Survey
Aligned with the key findings in The Contribution
Effect, United Minds developed a universal, predictive EX model
– nexus – that can predict over 50 percent of an employee's
experience, regardless of geography, job type or level. Using the
nexus diagnostic, United Minds can either issue a 10-minute
employee survey or work with client data to compare their EX
performance against the benchmark data.
United Minds' employee experience, culture and engagement
advisors use tools like nexus to counsel dozens
of Fortune 500 and other large organizations on best
practices for building stronger workforces.
"Our first-of-its-kind, predictive model provides a framework
for any organization to better understand how their current EX
impacts retention and advocacy – and how it can be improved,"
Kalevitch said.
For more information on the model or research,
visit https://unitedmindsglobal.com/nexus/
About United Minds
United Minds is a management consultancy that specializes in
transformation. Leveraging a deep bench of specialists, the company
helps organizations deliver positive, lasting change by combining
data-fueled strategy and creative communications solutions,
engaging stakeholders in every part of the process. For more
information, visit www.unitedmindsglobal.com
About Weber Shandwick
Weber Shandwick is a leading global communications network that
delivers next-generation solutions to
brands, businesses and organizations in major markets
around the world. Led by world-class strategic and creative
thinkers and activators, we have won some of the most prestigious
awards in the industry. Weber Shandwick was named to Ad
Age's Agency A-List in 2020 and Best Places to Work in
2019. Weber Shandwick was also honored
as PRovoke's Global Agency of the Decade in 2020
and PRWeek's Global Agency of the Year in 2015,
2016, 2017 and 2018. The firm has earned more than 135 Lions at the
Cannes Lions International Festival of Creativity. Data-led, with
earned ideas at the core, the agency deploys leading and emerging
technologies to inform strategy, develop critical insights and
heighten impact across sectors and specialty areas, including brand
and B2B marketing, healthcare marketing, change management,
employee engagement, corporate reputation, crisis management, data
and analytics, technology, public affairs,
social impact and financial communications. Weber
Shandwick is part of the Interpublic Group (NYSE: IPG). For more
information, visit http://www.webershandwick.com
About KRC Research
KRC Research is a global nonpartisan insights-driven opinion
research consultancy that turns data into intelligence to help our
clients solve challenges. A unit of the Interpublic Group of
Companies (NYSE: IPG), KRC Research offers the quality and custom
service of a small firm with the reach of a global organization.
Staffed with multidisciplinary research professionals, strategists,
and investigators, KRC has worked for over 30 years provide
insights to corporations, governments, not-for-profit
organizations, and the communications firms that represent them.
Our subject matter experts have deep experience in research methods
applied to communications, public health and marketing campaigns,
corporate and brand reputation, and consumer, stakeholder, and
employee engagement. For more information,
visit www.krcresearch.com
Contact: Jill Tannenbaum
Company: Weber Shandwick
Phone: 212-546-7815
Email: jtannenbaum@webershandwick.com
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SOURCE Weber Shandwick