Editorial
As more and more companies move toward automation, there is growing discussion around the impact AI could have on workers. According to SHRM, 52% of employees today believe they are easily replaceable in their jobs.
This increasing uncertainty among employees is triggering greater turnover, as employees hop from one job to the next in search of a place they can call home.
To improve employee retention and foster a positive work culture, today’s leaders need to be more than just a boss. They need to understand their team’s skills and motivations, and coach them with the mindset of growing both the individuals and the organization.
Three experts share some advice on how to develop teams today and prepare employees for the future.
1. Coaching for Long-Term Growth
Justified or not, the fear of displacement by AI and emerging technologies is understandable. To help, leaders should provide employees with opportunities to gain valuable skills for the future.
“Companies need to implement a company-wide 'coaching' mindset instead of a 'boss' mindset,” said Dr. Kristi Leimgruber, behavioral scientist, DEIB at BetterUp.
According to a 2021 survey by the American Staffing Association, 80% of US employees say that they consider training in their job hunt. It’s an important part of the recruitment and retention strategy.
But in Leimgruber’s experience, companies that adopt a coaching mindset not only deliver a better experience to employees but also yield measurable benefits.
According to BetterUp data, a culture of coaching leads to a 59% increase in net profit margin, 37% increase in year-over-year revenue growth and 53% increase in team performance — regardless of the work model. It’s clear that when organizations invest in transforming the individuals on their team, the whole company benefits positively, she said.
Related Article: In the Age of AI at Work, Managers Still Matter
2. Mapping out Current Skills to Fill Future Gaps
Knowing your workforce and its composition is a critical requirement to a successful talent management strategy.
Lisa Gonzales, CEO of talent acquisition firm ELKALYNE, said understanding employees’ strengths will set companies up for success.
She advises leaders to take inventory of internal talent by mapping out their skills. Being aware of strengths and limitations “allows you to identify gaps, which ultimately can inform the strategy you need to execute to fill those gaps quickly,” Gonzales said.
A great deal of companies either have skills gaps today or can expect them in the near future. A 2021 McKinsey report found 43% of companies have gaps now, and another 44% expect to have them in the next two to five years.
Skills mapping can help bridge those gaps — and it doesn’t have to be complicated. While there are tools that can help, the process can be as rudimentary as making a list of employees’ names along with their respective skills and career objectives, Gonzales said. The choice usually depends on the size of the team and overall business objectives.
Mapping current and future skills needed in the organization not only shows staff the expectations of what success looks like in the company, but it also helps leadership understand capabilities so they can plan accordingly.
“It keeps everybody on the same page, feeling valued and contributing in different ways,” Gonzales said.
Related Article: Mapping Out Your Company's Skills Set
3. Mastering the Art of Happiness at Work
Today’s workforce is changing the way we look at the employer-employee relationship. Managers must do more than supervise work; they must also support their teams in their quest for motivation and happiness.
Colette Tracy, adjunct professor of business at Morton College and the author of “Both Sides Now: Reflections for Women at Midlife,” said making sure employees are happy at work is an important aspect of leadership — and one that is to the benefit of all.
“If you have people who are happier at the company, they’re going to treat customers better,” she said. Even if those employees aren’t dealing with customers directly, the dedication to the company will trickle down to the customer, affecting the bottom line.
And in today’s environment, flexibility plays a big role in keeping employees happy. Tracy believes that the lack of work-life balance that had long been a norm, particularly among older generations of workers, is what has led to quiet quitting and short tenures at organizations.
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In her work, she advises leaders to find ways to motivate employees all while providing them with the flexibility to accomplish tasks in their own way. Giving them ownership and accountability of their work brings intrinsic motivation. They show up better, do their job better and are more motivated, she said.
“When you have the kind of employee who has shown initiative and self-direction and accountability, you should really take a look at that and treat them accordingly,” Tracy said.
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