Tag Archive for: Organizational Behavior

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Quiet Quitting: New Name for an Old Problem?

Let’s consider that most troublesome of conditions that’s much in the press – quiet quitting. Is that a thing? Really? Or actually, are we just talking about people doing the bare minimum, just trying to hang on and draw their pay cheque and keep their noses down? Well, isn’t that what a lot of people have been doing for decades, if not centuries? I wonder if we just put a new label on a condition that we have been too easily ignoring for far too long, and that’s the chronic engagement problem. So how do we as leaders better engage our people?

I was particularly looking at the largest demographic (over 65%) in the workforce in my own research, and that’s Generation Y or Millennials, and what might keep them engaged at work and actually allow them to give more discretionary effort than they ever have before, and I found that engagement has to do with mainly three things.

One is giving them development opportunities and naming those development opportunities explicitly. In other words, if we give people projects, do we actually tell them that this is a development opportunity for these reasons?  When they are shadowing, or attending international secondments or placements, are we explicit about how and why those are development opportunities? Do we give our people mentoring? Most of the things I’ve mentioned are free or inexpensive.

The second thing that we need to think about is culture. What is it like to work around here? What’s the experience? The two questions that Gen Y told me they wish they could ask or would have been asked in a recruitment interview are: Can I meet the team I would be working with, and can you show me where my desk will be? In other words, what they are interested in is: What are the behaviours I observe from the people around me? What they are interested in, therefore, is culture.

Third is work-life balance. Now, this doesn’t mean necessarily working fewer hours, so when we say people are quiet quitting, what they’re telling us is that they’re working the bare minimum of hours, but there might be something behind that, which is that they may truly want flexibility in terms of where they work, and if they have that flexibility then they might actually give us more of their time in terms of doing the work required. I am not suggesting that we kill people and work them to death, but if we think that people are giving us the bare minimum, how do we create the conditions of that work, so that they’re more willing to do what is required to the extent that is healthy and well? That is a two-way conversation of course between employer and employee. But work-life balance is a tricky question because we always have to ask ourselves whether we are dealing with hours worked or with flexibility in terms of where and how the work happens.

For more of my media and speaking, please visit www.adamkingl.com 

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How is the Four-Day Week Shaping Workplaces?

While the four-day work week is a global trend that more and more companies are adhering to, there are conditions that enable its success. Planning, purging bureaucracy and open communication are essential tools that organisations must be equipped with to make a smooth and successful transition.

Celine Chami

 

Nov 18, 2022

The decrease in working hours is a global trend that started in Europe a few years before Covid-19 but intensified during the pandemic.

According to Perry Timms, author of Transformational HR and The Energized Workplace, and founder of People and Transformational HR Ltd, it was mostly the exhaustion felt after trying to recover from lost work during the pandemic – and a long-standing belief that five-day weeks were a barrier to career progression for working caregivers – that made them decide to implement a four-day work week.

“We wanted more focus from being rested to save our enterprise and bring more balance to our mainly part-time team. In short, modelling a new way to slice and dice the working week,” he explains.

Adam Kingl, educator and author of Next Generation Leadership, explains that the reason why companies are adopting a four-day work week is because they need to respond to employees’ increasing requests for greater work-life balance. “A demand for work-life balance isn’t a cry for fewer work hours – it’s a cry to be able to work from outside the office beyond a rigid 9-5 schedule,” he says.

Jordan Lorence, Marketing Manager at MRL Consulting Group, clarifies that in the case of his company the four-day week started out as a strategy to improve recruitment and retention internally. They had many other incentives in place before the four-day week but they wanted something to bring it all together.

“Our best people would want to continue to stay, and recruiters would want to work for us. There was also the wellbeing side of things; our team would be refreshed, happier, healthier, and we’d all enjoy our time in the office more as a result. Many of our team have children, so giving them back time would be really important,” he states.

Claire Daniels, Chief Executive Officer of Trio Media, explains why her company is taking part in the 4-Day Week Pilot Programme in the UK. For her the motive was around productivity. As a growing business, she wanted to see profits increase and so was open to anything that could allow her organisation to get the best output from their people.

“I think companies generally are implementing it, as they are intrigued about how to build a workplace for the future that has a balance between performance and employee wellbeing,” Claire states.

Providing a better work-life balance

Jordan Lorence suggests that the work-life balance was one of the main reasons for bringing in the four-day work week. Every employee has every Friday off. No hours are added on to make up time, no loss of pay or commission, just one day less in the office. That extra day is for the team to do whatever they want with. “We felt like that was the best balance to offer – we already have flexible working in place, so to give back one whole day was the next best thing to add,” Jordan explains.

Claire Daniels clarifies that an additional free day per week gives people the opportunity to get a lot of life-admin done, along with spending more time with their family or friends. She noticed that some employees have even started volunteering or learning a new skill.

Perry Timms explains that the four-day work week is an awesome way to do what he refers to as ‘2×2 day working sprints to their work’, with flexibility all around it. “If we have to flex for client work, we trade the time/day. And with families, life-admin, hobbies and other pursuits, we no longer feel these have to be crammed into a weekend,” he states. Accordingly, they don’t have a work-life balance, they live a balanced life which includes their work. Noticeably, their culture, positivity, support, creativity and work volumes have all increased since they took this decision. They’ve cut out bureaucratic clutter and they’re now being asked to help others create new capacity in the way they did.

Impacting productivity and performance

Claire says that the impact on productivity has definitely been positive, in that their workload has increased and they have been able to keep up with demand even in fewer hours. The performance speaks for itself: in the five months they’ve carried out the trial, they performed 49% better financially than in the same time last year, and 30% better financially than the previous period. They’ve also had two record sales months since they’ve been operating their four-day week.

Perry confirms that this work schedule has had a huge impact on employee productivity and performance. They’ve had two years of sustained growth with 20% fewer hours “on the clock”. When they tracked this over the last two years, they were able to pin it down to efficiencies, clarity and attention to what makes things swifter without being breathlessly fast.

“We’ve crafted intelligence and information creation, storage and retrieval that is very optimal. Our communication, learning and social time have increased, not decreased. Overall, our culture of performance is far more optimal because we’ve sharpened in every area possible,” Perry explains.

At MRL Consulting Group, and according to Jordan, they’ve had their best financial year in 25 years of business, with 60% of the headcount they had when they established the previous record. This was set before the financial crash in 2008, so to say the business environment was also different back then is an understatement.

“We’re now doing more work in less time, so using the four-day week formula, productivity has certainly improved. We stopped looking at inputs (time spent in the office etc.) and started looking at outputs (calls made, interviews scheduled, placements made etc.) and it helped us to focus on the things that really matter. People are happier, more energised and focused for four days, so they tend to get more out of those four than they would have out of five days,” Jordan clarifies.

Increasing employee engagement

Adam Kingl explains that when he was surveying hundreds of high potential Generation Ys (who represent over 60% of the global workforce) for his book Next Generation Leadership, he found that work-life balance is the number one condition that such HiPos seek from their employers. So, a four-day work week could be a major initiative to improve employee engagement and reduce attrition among the largest generation in the workplace.

For Jordan, engagement has really improved for everyone. He suggests that when employees know they have less time to do something, they tend to focus more on their work. There’s then the other side of it where, when they feel appreciated as a person and they’re given a proper work-life balance, they’re happier at work – and happier people tend to be more engaged.

Claire believes employee engagement has increased at her company, although this isn’t a metric they currently measure. Due to the reduced working hours, they’ve also made an effort to organise more social activity outside work to help work relationships continue to flourish even in reduced working hours.

The conditions of success of the four-day work week

Claire explains that in order for the four-day work week to succeed they had to do a lot of planning. For her, open communication and transparency are key to safeguarding the business against any of the challenges. Equally, bringing in several new systems and processes to ensure the success of everyone on the trial helped in their case.

For Perry it is important to socialise the idea first to test belief in the option. The socialisation of work doesn’t mean a slower process and the need for consensus; it means respect for the process and clear lines of accountability.

He believes equally that a company must purge bureaucracy – especially the time spent in meetings – and instead create open, transparent processes, communications and decision-making that are focused on impact and positive outcomes. “Then measure, sense-check and narrate culture into prominence, creating a psychologically safe place to pursue prosperity – not meaningless KPIs and targets. Less time, better work,” he concludes.

According to Adam, organisations should still seek clarity about what their employees mean or want when they request ‘work-life balance’. In some cases, they seek to work fewer hours, in which case working, for example, 10 hours a day for four days a week may not yield fewer hours.  But in other cases, employees might seek greater flexibility in where or how they work, and having three days when they are not obliged to work may provide this.

“It all would depend on the individual’s circumstances as well as the employer’s truly giving the employee the freedom and flexibility, including not intruding on their ‘fifth’ day off,” he concludes.

The four-day work week, if implemented well, seems to be a promising model that companies are heading towards. So far it has shown very positive results: improvement in the wellbeing and performance of employees, increase in productivity and engagement.

Is this not what every company aspires to? Is it not in line with what employees are requesting when they speak of a better work-life balance? Perhaps it is time for more organisations to consider it so that it becomes a new norm in modern workplaces.

Celine Chami

Celine Chami

Marketing and communications consultant

Celine is a brand expert and university lecturer with over 20 years of experience. As well as working and training hundreds of companies in the MEA region, she is currently pursuing her Ph.D. in Human Resources.
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Responding to the Resignation Crisis

One of the topics I discuss in my book, Next Generation Leadership, is how to respond to the resignation crisis. I discovered that, among many tactics, one which appears to be highly effective is cultivating an alumni network. If it is true that Generation Y, or Millennials, are leaving their organisations with frightening rapidity, my research show that this is in fact their expectation.  They are often anticipating leaving every two to five years from one organisation to the next. 

Then, it’s best that we consider how we might allow them to come back at some point in the future. So, they may not stay for more than two to five years at a time, but perhaps we can convince them to come back two, three times over the course of their careers, and in so doing, the develop new, senior leadership skills, customer relations skills, sales skills, whatever it might be, which you didn’t have to pay for, and then you get them back, and you get the benefit of all that new development. So how do we cultivate an alumni network? Well, professional services organisations like McKinsey or Accenture are world class at maintaining their alumni networks, so we can learn a thing or two from them. They even hold reunions in many cases, just as a university would, of their former employees because these people are currently clients, they’re customers, they’re net promoters.  You certainly don’t want them to be net detractors!  

But what too many organisations do, instead of cultivating those relationships, instead of holding alumni reunions, instead of keeping a social network alive, is when someone resigns they say, ‘Oh, you’re leaving? Ok, leave your swipe card on the desk and don’t let the door hit your butt on the way out.’ That’s certainly not the way forward. We want to keep a workforce, whether it’s in one go at a time or two or three goes at a time because we’re living in a world where young employees want mobility from job to job.  Sometimes those future collaborations might be contractor positions instead of full-time employee engagements, and that’s fine.  Certainly we need to make working with us as attractive as possible, so that over the course of their careers, we can collaborate with the high potentials for as long as possible. The only thing is – it may not be all in one go. 

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Humanising Leadership

Work life has fundamentally changed over the last 150 years. We’ve seen technology evolve how we work, we’ve seen scientific management evolve how we work, we’ve seen Six Sigma evolve how we work. We’ve seen other forms of agility, adaptability, etc., evolve how we work. However, the act of management, the habits, processes, and technologies of management have fundamentally not changed since the industrial revolution. As a result, we are facing an engagement crisis, and I don’t need to tell you that we are also in the midst of a resignation crisis. That’s because work is becoming more incremental, inertial, and inhuman. Fundamentally inhuman.  

Covid didn’t cause these crises, but they accelerated the trends, as we were forced home to contemplate our lives and fulfilment.  We’ve seen the engagement crisis evident for years in polls such as the Gallup Survey, which indicates that only about 13% of the global workforce are engaged in their jobs, 62% are disengaged, and about a quarter are actively disengaged, meaning that they hate their employment so much that they would sabotage their organisation given half a chance.  As dramatically depressing as those statistics are, the real tragedy is that most managers don’t seem to care enough to do much about it.  When I share these survey results in front of executive audiences, the most common reaction I see is resigned acceptance: a shrug, a shake of the head, eyes downcast.  

We simply have to get angry about this state of affairs in order finally to change it.  I would argue that you wouldn’t see this reaction in similar circumstances with professionals other than ‘managers’.  If I were addressing an audience of general practitioner doctors and told them, ‘I interviewed all the patients you saw over the past year and their families.  Here are the results.  13% of your patients got better.  25% died, and 62% reported that seeing you made no difference to their health whatsoever.’  Those GPs would be up in arms!  They would be demanding that the practice of medicine be completely reimagined in the face of these results and particularly if they largely didn’t change year to year.  Yet again, corporate managers have grown accustomed to such dire results to the point that they neither act upon nor even dwell on them.    

What’s the solution? Not more management!  At least not more management in terms of the definition of ‘to control’, but more management in relation to being more human, more empathetic, helping our people, and by extension our organisations to be more relevant tomorrow than they are today. This, I believe is the challenge of leadership in the 21st century: humanising management. 

To find out more, please go to my website www.adamkingl.com.

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Work-Life Balance

When I wrote my book Next Generation Leadership, I interviewed Generation Ys, Generation Xers and Baby Boomers, and I asked them about work-life balance. My first question was, ‘What do you mean when you say work-life balance?’ What was very interesting is that I learned that there’s semantic discord among the generations about their definitions of that term. 

For most Gen Xs and Baby Boomers, work-life balance is a ‘when’ question. In other words, when they hear ‘work-life balance’ they would interpret that the speaker wants to work fewer hours, which can lead them to conclude, ‘They don’t want to pay the dues that I paid, and so they’re lazy. So it goes, and that contributes to this incorrect prejudice that Gen Ys are somehow lazy. 

When I ask Gen Ys what they mean when they say or hear ‘work-life balance’, they generally say that this is a ‘where’ statement. In other words, technology allows me to work wherever I want. Therefore, what they’re looking for is flexibility in terms of location of work. What they’re rejecting is face-time culture, being chained to your desk, not being able to leave the office until the boss leaves, etc. 

Of course, what we learned since Covid is that we should in fact have flexibility in terms of workplace location. And yes, I know that it does vary based on your function or industry whether it is possible to work from home or elsewhere, but nevertheless this is an important semantic discord for us to notice and understand. A great solution is to ask one another before you get into a work-life balance conversation is ‘Well, what do you mean when you say work-life balance in your context,’ to make sure that you aren’t speaking at cross-purposes. 

For more from my articles, media, book and speaking, please visit adamkingl.com

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The Evolution of Capitalism: Profit or Purpose?

HR Magazine, 26 January 2022

The Evolution of Capitalism

Profit or Purpose?

Adam Kingl

Is profit the fundamental criterion for a business?  As capitalism is evolving under our feet, and that evolution is accelerating since Covid, we’re seeing a shift of emphasis from the pre-eminence of shareholders to stakeholders: customers, employees and communities.  Now, I want to make a very important distinction.  This does not mean that shareholders are getting the short end of the stick in terms of reward.  If companies refocus or even redefine how they add value to stakeholders, then shareholders are rewarded too.  

At a macrolevel, this shift that we are just starting to observe is essentially a rebalance in corporate focus from outcomes to outputs.  If we think of outcomes as share price and profit, we cannot deny that these are good things to have.  But I can’t storm into the office and say that my focus today will be to maximise my share price. What am I supposed to DO??  A blinkered focus on share price creates drift away from the reasons a company was founded in the first place: to identify a market need and to serve customers brilliantly.  Creating value for customers and serving them better are outputs that companies can rally behind, can guide whether to spend more time on activity A or activity B.  My outputs will lead to the outcome of enhancing my bottom line.  But the outcome is not my daily focus – this is a subtle but hugely important point.  

Does this mean that the CEO would not want to earn a profit?  Absolutely not. Business has to survive and thrive.  Here’s the rub.  Most businesses were founded on an idea of introducing an exciting product to the world, serving a previously undiscovered market need, bettering a community or creating employment opportunities.  But then financial analysts’ opinions grew in importance to investors, with their use of various ratios that are useful shortcuts in assessing company health.  However, we must remember that these shortcuts are only performance indicators for today; they do not assess if the business is closer to or farther from achieving its purpose, closer to or farther from achieving long-term or ‘moon shot’ objectives.

Chasing ratio optimization is a short-term game.  Before one knows it, the purpose of the business is about tacitly, implicitly pleasing analysts.  Making decisions toward long-term objectives takes a back seat, and sustained success can become much harder to achieve over time. Unfortunately, that’s exactly what happened on a massive scale.  At an inflection point in the second half of the twentieth century, as analysts’ and shareholders’ voices became louder, the CFOs’ and Investor Relations’ departments began to dominate the c-suite conversations. CEOs’ compensations grew increasingly related to share price and less on customer value indicators.  The focus on outputs dropped down the totem pole in terms of time and attention in favour of outcomes.  One could argue that the Great Recession of 2007-09 was caused, or at least made much worse, by this shift in focus.   

Companies that remain focused on their purpose are rewarded by investors and customers.  Aggregate research has proven that such purpose-focused firms significantly outperform their rivals.  The authors of the book, Firms of Endearment, explored those organisations who are in the top ten percent in relation to focusing on their purpose, community, customers and employees.  Their research revealed that, over the decade ending in June 2006, these firms returned 1,025% to their shareholders, compared to 122% return on investment by the S&P 500 overall.  Just to be clear, this study therefore quantified that purpose-driven organisations reward their investors better than the market average by a multiple of ten!  

Separate research published in Organization Science reached a similar conclusion.  Faculty from Harvard, Pennsylvania and Columbia Universities surveyed half a million employees across 429 firms.  While these academics did not find correlation between purpose alone and financial performance, they proved that companies with strong purpose and high clarity from management exhibit stronger financial and stock market performance.  The implication is that one condition of commercial success is that an organisation’s employees understand and believe in their collective purpose and have a clear path as to how that purpose will be achieved.  

Perhaps our ultimate question is: Are purpose and profit a zero-sum game?  Recent research indicates this is not necessarily so, and the two forces may even serve each other.  A huge amount of dialogue has attempted to answer this question both in media and in conferences.  The opinions are typically more definitive than one may guess and often resemble the sentiment: ‘The most successful companies, both in profitability and longevity, are the ones who recognise the absolute necessity of profits as well as the equally high necessity of having a purpose beyond shareholders’ wealth.’

Adam Kingl (adamkingl.com) is the author of Next Generation Leadership and is an Adjunct Lecturer at the UCL School of Management, where this theme of the evolution of capitalism is explored in the School’s executive education practice and notably in its Building Competitive Advantage through Sustainability course: https://www.mgmt.ucl.ac.uk/executive-education. 

https://www.hrmagazine.co.uk/content/comment/the-evolution-of-capitalism-profit-or-purpose

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Managing Diverse Collaboration in a Virtual Environment When Leading Innovation

Managing Diverse Collaboration in a Virtual Environment When Leading Innovation

Adam Kingl

A plethora of collaboration dysfunctions can easily derail innovation conversations.  I began conducting a number of experiments ten years ago to explore virtual and face to face dynamics, and which may be optimal, when holding conversations requiring creative inputs from a team.  These experiments demonstrated that team leaders should consider continuing to hold at least some of their innovation discussions on virtual platforms, even if the pandemic would technically allow the team to meet in person.  There are two important reasons for this recommendation.  

First, charisma or extraversion, a traditional leadership trait, is often disintermediated in a virtual environment.  The extrovert jumps in with their contribution first and often, while the introvert is still processing options and responses.  But on an asynchronous, virtual discussion platform like a discussion board, team members cannot rely on force of personality to push solutions, but on the clarity and quality of their ideas.  Introverts, and those who are less confident working in a second language, may actually thrive more in a virtual team.

Second, merit has more power than familiarity or hierarchy in virtual teams.  We have all experienced how factors such as cultural norms, gender, career levels and reporting lines contribute to only a few voices, sometimes only one voice, dominating in a room.  Most of our organisations’ architectures are predicated on a pyramidal hierarchy, which for centuries has suggested a tacit dogma of the manager’s infallibility.  This canon has ruined many millions of meetings, where idea creation gives way to waiting for the leader to contribute, and then the rest of the team either agreeing or remaining silent.  

In a virtual, asynchronous environment, team members scan reflect before answering, the less confident can reply thoughtfully and bravely.  Adding anonymity to contributions reduces the senior voices from owning the lion’s share of the conversation.  The best ideas rise to the top instead of those which happen to be from the most senior.  Therefore, if an important objective of any leader is to bring out the best in everyone, then he or she should consider utilising a virtual forum for at least some discussions and particularly if managing a very diverse team.  

Two important points to remember when considering virtual teamwork:

First, technology does not solve every problem.  Virtual teamwork can fail if leaders do not attend to the fundamental problems of coordinating, engaging, and motivating individuals, particularly across time zones.  It’s easy for team members to disengage when they’re not face-to-face, so the leader must convey a high degree of enthusiasm and clarity and agree on who is accountable for what from the start. 

Second, it is dangerous to assume everyone has the same understanding of how the virtual team with work together.  For example, will everyone be in one virtual ‘place’ at the same time, or will they contribute on their own time?  To lead a virtual team, the leader must focus more on team maintenance (‘How are we going to work together?’) before task maintenance (‘’What is the creative solution to the problem or opportunity?’).  

When to Leverage the Expert or the Crowd

I am mindful that the expert in the team must still be given his or her due in creative conversations, particularly when understanding technical issues or opportunities would be key.  I would argue that the smaller the team, the more this lesson is true.  On the other hand, a possibly negative team dynamic that could occur is that the expert is used to being right and may win a debate just through the power of his or her own confidence and of having more data to hand.  With larger teams, I recommend a balance between considering the expert view and leveraging the collective wisdom inherent in diversity and large groups.  The following table is a short-hand guide suggesting when to utilise the expert and when the ‘crowd’ in a given team.

Size of Team

Use of Experts

Use of Diverse Group

Small (seven or fewer people)

Experts are more likely to provide some of the best answers

May not have powerful diversity in a small number so the ‘crowd’ is less likely to provide the best answers

Medium (eight to twenty people)

Solicit the experts’ opinions separately from the group to avoid rushing to an answer

Discuss with the team before bringing the experts back into the dialogue

Large (twenty-one plus people)

Solicit the experts’ opinions; test the team’s collective view of those opinions 

Survey the team’s views and look for trends and averages

Organisation-wide

Gather a group of experts with diverse views to test the emerging views of the wider organisation for rigour and/or to ask follow-up questions

Consider using an internal company platform or social media to collect large samples, votes and discussion boards to test ideas

Another solution may be to consider the views of the crowd and the expert separately, so that one view does not influence or anchor the other, and then share for discussion.  A final recommendation is to find ways in which the emerging collective view is not a victim of groupthink.  

A diverse group’s mosaic of different views can balance the important but perhaps narrower view of the expert. The challenge for the manager of such a team or organisation is to find incentives and create cultural norms that make the soliciting of views a regular occurrence, while identifying patterns, averages and trends in those views, and then encouraging rigorous debate.  Instead of following the cliché of ‘agreeing to disagree,’ perhaps embracing multiple and diverse points of view could lead to the stronger though less intuitive paradigm of ‘disagreement to convergence.’  

Adam Kingl (www.adamkingl.com) is an Associate of the Moller Institute, Churchill College, University of Cambridge.  He is the author of the book Next Generation Leadership and an educator and adviser.  Formerly, Adam was the Regional Managing Director, Europe, of Duke Corporate Education and the Executive Director of Thought Leadership at London Business School.  

https://indd.adobe.com/view/bb16cf03-6c8a-4d66-8ae3-90c406118980

Inspire Magazine, The Møller Institute at Churchill College, University of Cambridge, Issue 4, Leadership Mindsets, pp.32-33

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Inspire Magazine: Next Generation Leadership Book Launch

Inspire Magazine, The Møller Institute: Issue 4, Leadership Mindsets, p. 16

Book Launches

Next Generation Leadership: How To Ensure Young Talent Will Thrive With Your Organisation

  • Adam Kingl

We are on the verge of a seismic shift in a world of work.  Why are we toil, the employer-employee social contract, leadership, retirement and the nature of business itself are changing before our eyes in ways as least as significant as what humanity and served in the early days of the industrial revolution. And it all starts with understanding Generation Y.

Generation Ys (or Millennials), are youngest workers have been slandered for a decade. You’ve heard the accusations before: Gen Ys are indolent, spoiled, coddled, uninterested in climbing the corporate ladder, ever texting, indifferent about what it takes to succeed. Those who aren’t quite so critical merely laugh off these generalisations saying, ‘Oh we were like them when we were young too.’

In reality, to be so dismissive us to ignore macro-trends that have forever altered fundamental models of work and employment.

These trends include insecure retirement, the failures of shareholder capitalism and longer lifespans. What we observe in Generation Y is merely the first, widely shared rejection of their inheritance—the world as we know it.

This rejection manifested itself in what confounds, annoys and terrifies human resources department the world over: scarce loyalty to one’s employer, a trivialising of financial benefits, a hue and cry for work-life balance, a craving for constant development, and an insistence on a powerful, shared, authentic corporate purpose. Kingl’s research in his new book Next Generation Leadership explores what’s behind these shifts in the character of the emerging workforce and the implications for how we might need to manage and lead differently today. How might we recruit, retain and develop top talent?

Most importantly, if Gen Y indeed requires a different style of leadership, then as Gen Y assumes managerial positions themselves, then the nature of leadership and of business itself will also change over the next few decades in irrevocable and profound ways.

“Nuggets of gold which challenge the way we should lead our multi generational teams / organisations.”

https://indd.adobe.com/view/bb16cf03-6c8a-4d66-8ae3-90c406118980

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The Cost of the Global Resignation Crisis

UCL School of Management

20 JANUARY 2022

THE COST OF THE GLOBAL RESIGNATION CRISIS

Notebook with the title "the great resignation' clipped to an arrow pointing left.

Recent studies indicate that almost 55% of the global workforce are considering resigning from their current role. Adam Kingl has been discussing the innovation and finance implications of the current resigning crisis. 

Adam’s research indicated that the “great resignation” phenomenon was already growing before the pandemic when he found that 90% of millennials (who compose about 60% of the global workforce) do not plan to stay with their employers for more than five years, and over a third plan to leave within two years.

Replacing an employee can be costly for organisations, averaging around half to two times their annual salary. Adam explains the implications can be more severe for professional services firms, such as law firms and consultancies where a partnership model is most common, but that it has drastic implications for all organisations.

He advises that to keep employees engaged and reduce the high levels of resignations employers must focus on; development, organisational culture and purpose. He says organisations must “reconsider the models in our organisations and think about how we can still imbue people with purpose and values so that they will stay a little bit longer, but also create those organisational designs that are not necessarily ‘up or out’.”

Read the full article