Three crucial questions for your organisations to answer
McKinsey & Company
McKinsey research shows:
- 82% of employees report that it’s important for their organisation to have a purpose, but only 42% say their company’s purpose statement had much effect.
- Contributing to society and creating meaningful work are the top two priorities of employees, yet they are the focus of just 21% and 11% of purpose statements, respectively.
The companies that are bridging this gap are the ones reimagining their organisations in the midst of COVID-19 by addressing three core questions:
- Who are we? Do we have a compelling, standout identity that attracts and inspires employees, investors, clients, and partners?
- How do we operate? Do we have a nimble, flat operating model in place that fosters teamwork and rapid decision making, and that values and develops talent throughout the organisation?
- How do we grow? Do we have a robust ecosystem that values internal and external partners, leverages data-rich tech platforms, and is committed to doing whatever it takes to create and maintain a continuous learning atmosphere?
Why you should apply design thinking to the employee experience
Strategy + Business
Many companies conduct annual employee engagement or satisfaction surveys. This article suggests you throw them out and replace with a steady series of short pulse surveys and conversations that ask employees to name their three biggest time wasters or other headaches.
Focus on tools (“Do you have what you need?”), authority (“Are you empowered to make decisions?” or “Is it easy to get approvals?”), and distractions (“What pulls you away from the task at hand?”). Turn those answers into a Pareto chart, start working the list, and come back the following month to get new insights.
The metrics are deliberately based on existing standards, with the near-term objectives of accelerating convergence among the leading private standard-setters and bringing greater comparability and consistency to the reporting of ESG disclosures.
Measuring Stakeholder Capitalism Report: Towards common metrics and consistent reporting of sustainable value creation
World Economic Forum
This report presents the conclusions of a six-month open consultation process to define common metrics for sustainable value creation.
The core and expanded set of “Stakeholder Capitalism Metrics” and disclosures can be used by companies to align their mainstream reporting on performance against environmental, social and governance (ESG) indicators and track their contributions towards sustainable development goals (SDGs) on a consistent basis.