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Here are the top news stories in talent & organization from this week.
Employee wellbeing a top priority for UK banks
Facing strong competition from challenger banks and fintech start-ups, top financial institutions in the UK are placing more emphasis on employee wellbeing. According to a new survey by Bishopsgate Financial, a majority of banks are focusing on flexible working (68 percent), diversity (66 percent), and implementing development and training (61 percent). Nearly three quarters (72 percent) of UK banks identified the need to implement agile working conditions as central to achieving high performing teams, while corporate social responsibility (CSR) continues to be a significant area of focus across the financial sector (76 percent of respondents). “Attracting and keeping the right people and talent has always been at the heart of the UK’s successful financial services sector. More so than ever, there is an increased focus on the employee and their continuing wellbeing within an organization,” Mike Hampson, CEO of Bishopsgate Financial, told Finance Digest. “Our research shows that banks are taking their commitment to diversity seriously, while they also appreciate that their CSR credentials are central to long term business success.”
Our recent report, “Putting Trust to Work,” addresses similar employee-wellbeing concerns.
The power of empathetic leadership
The primary role of the CEO is having the capacity to influence and mobilize people, and empathy is critical to accomplishing those goals, claims Andrea Jung, CEO of Grameen America, a microfinance organization. “An organization’s culture and practices run deep but there’s always a softer side. This does not mean that as a leader you have to be a weak negotiator,” Jung told Ellevate in a Forbes article. “It does mean that you have to attempt to understand where others are coming from to bridge the gap.” Empathetic leaders find a healthy balance that supports both the employees and the business. “The quality of the big decisions comes back to having the understanding to make the right judgment calls, the experience to back up the decisions you’re making, the courage to make the difficult decisions all leaders must make, and finally to bring an empathetic approach to the forefront when decision-making,” Jung said.
Ten tips for using social media in hiring
Using social media in talent management is about more than just tweeting job postings, argues Maggie Williams. “With the right planning it can deliver long-term benefits for talent managers, from understanding how a company’s brand attracts the best candidates through to cultivating talent pools for future recruitment,” she writes in HR Magazine. Williams offers 10 tips to utilize social media successfully: 1. Use it to facilitate a two-way conversation. 2. Be honest and authentic. 3. Let employees share their experiences. 4. Target key groups, especially underrepresented candidates. 5. Look out for the company’s reputation. 6. Focus on what the audience wants to know. 7. Monitor feedback and have the right reply to both positive and negative comments. 8. Go where your target audience goes to gather information. 9. Become a channel expert and post regularly. 10. Be respectful and responsive to the candidates.
Don’t overlook generation X talent
Generation X employees can’t seem to shake the negative stereotypes about them being unambitious, despite many of them being hard workers, creative problem solvers and passionate leaders, claims Matt Alderton. An analysis by the Harvard Business Review found that in the last five years, two-thirds of gen X leaders (66 percent) have received only one promotion or none at all—significantly fewer than their millennial (52 percent) and baby boomer counterparts (58 percent), who were more likely to have received two or more promotions during the same period of time. “That’s bad not only for gen X employees, but also their employers,” Alderton notes in Successful Meetings. Stephanie Neal, who reported on the analysis for HBR, says gen X is beginning to get frustrated, and more and more gen X workers are considering leaving their jobs. “As millennial and gen X leaders begin to compete for the same mid-level and even senior-level roles, companies risk losing many of their highest-performing leaders if they don’t work harder to retain them,” Neal says. “Continuing to challenge generational stereotypes, and fostering development and mentorship among multiple generations of leaders, will ensure a longer, healthier pipeline of talent for organizations.”
For more news on generations in the workforce, see our page here.
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