In yesterday’s Advisor, the latest in research along with tips on talent acquisition from consultant Josh Bersin; today, Bersin’s thoughts on engagement, the benefits of corporate “soul,” and The Simply Irresistible Organization®.
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Bersin, who is principal and founder of Bersin by Deloitte, Deloitte Consulting, offered his research and tips at the HR Tech conference held recently in Las Vegas.
Companies with Soul
Deloitte has found that companies with “soul” do better than companies without, eight times higher than the S&P 400. (He calls such firms “Firms of Endearment,” after a book of the same name written by Raj Sisodia, Jag Sheth, and David B. Wolfe.) Employees want to be part of something bigger.
Companies with “soul” experience:
- Much higher engagement and retention
- Better customer service
- Long-term profitability
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Rethinking Engagement
Glassdoor data are startling, says Bersin.
Senior leadership gets a rating of 2.8 out of 5. And only 54% would recommend their employer. (Of course, it’s not totally surprising that Glassdoor comments are negative, Bersin points out.)
To try to improve this situation, Bersin has developed the Simply Irresistible Organization®. It has five major facets:
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Meaningful |
Great |
Fantastic |
Growth |
Trust in |
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Autonomy |
Agile Goal Setting (i.e., OKR*) |
Flexible, humane work environment |
Facilitated talent mobility |
Mission and purpose |
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Selection to Fit |
Coaching & feedback |
Recognition rich culture |
Career growth in many paths |
Investment in people, trust |
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Small Teams |
Leadership |
Open flexible workspaces |
Self and formal development |
Transparency and communication |
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Time for Slack |
Modernized |
Inclusive, diverse culture |
High-impact learning culture |
Inspiration |
*A system of performance management including objectives and key results
Is Software the Answer?
Some people preach that software is the answer to HR’s problems. Bersin asked his audience, How many have transformed their companies with software? Not one hand went up.
Performance Management
Ninety-two percent of companies don’t think their performance management process is worth the time they are spending on it—they find it complex, burdensome, and not doing what it is supposed to do.
Recognition Drives Retention
Bersin has seen a 31 percent reduction in voluntary turnover between companies that rate Poor in recognition and those that rate Excellent.
From curbing turnover to maintaining engagement to designing incentive plans, compensation and benefits are never easy. “Maintain internal equity and external competitiveness, with benefits and compensation, and control turnover, but still meet management’s demands for lowered costs.” Sound familiar?
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