Challenge # 4: Organization Development
[Go here for challenges 1 to 3.]
Gore worked on the "reinventing government" program at the country’s largest employer, the US Government. He says the key to finding better ways of doing things is to start at the bottom.
His teams met first with the janitors and worked their way up the ladder. "Search out the insights of individuals who do the work—they’ve got the great ideas," Gore says.
Challenge # 5: Short-termism
Management’s propensity to think short term will always be a problem for HR, Gore says, because typically the term of return for HR initiatives extends past the next quarter.
Gore told of a study that asked CEOs and CFOs, "If you had a potential investment that meets your investment targets, but doing it would make you slightly miss your next quarter’s expected earnings, would you make the investment?"
Seventy percent of the CEOs and CFOs said no, Gore notes. "If routine decisions focus on 90 days, you can’t optimize long-term success, Gore says. "This is an important challenge for HR."
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Challenge # 6. Compensation and Incentives
Monetary rewards are important, says Gore, but other types of rewards are also important. In a recent McKinsey and Company study, non-monetary rewards were more effective at long-term retention and engagement.
Working toward sustainability ("sustainable capitalism Gore calls it) and accepting environmental responsibility aren’t just good for pride, retention and engagement, he says, they make for higher profits as well.
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Study after study indicates that money isn’t the primary motivator for employees. Some higher-ups find that hard to accept, though–perhaps because it is the #1 motivator for them? Or maybe because cash just seems easier. The worst is to think cash is the only motivator and then think there’s nothing that can be done because of a budget crunch.