My Top 4 People Priorities for 2024
As we start 2024 many of you will have set goals or been developing plans to improve performance. To help you with these I have listed below My Top 4 People Priorities for 2024.
1. Leadership and Management Support
Managers are vital to the success of any organisation as they influence how people think and feel. Leadership has been evolving as have people's expectations of the workplace so your managers must have the skills to meet these.
Gallup research shows that:
Managers account for at least 70% of the variance in employee engagement scores.
Only 23% of the global workforce is engaged and 59% are quiet quitting.
A not engaged employee costs an organisation at least 18% of its annual salary.
Only 48% of managers strongly agree they currently have the skills needed to be exceptional.
2. Organisational Culture and Behaviour
Culture is an organisation's secret sauce, it's the 'how' of any organisation. Culture is critical to attracting and retaining talent and outstanding performance.
Gallup's State of the Global Workplace Report 2023 found that 51% of the workforce were watching for or actively seeking a new job.
People stay with an organisation when they feel strongly connected to the organisational purpose and values.
Everyone needs to feel they can make a difference and want to be part of something bigger.
Google's Aristotle project found that psychological safety was the most important of the 5 characteristics of a successful team and underpinned the other 4.
3. Talent Management
Talent is your scarcest resource! Knowing what talent you have and what you need in the future will be what determines your ability to meet customer demands and grow.
In 2018 Korn Ferry estimated that there would be a global talent shortage of over 85m by 2030.
Research by the Industrial Strategy Council, published in 2019, suggests that around 6.5 million people in the UK will be significantly underskilled for their jobs by 2030.
Research from LinkedIn shows that skill sets for jobs are likely to change by 50% by 2027.
The 5 future workplace skills everyone needs; are adaptability, collaboration, communication, critical thinking, and empathy.
4. Health and Wellbeing
Workers are finding life tough and are taking more sick days than at any point in the last decade. Supporting your team by giving them the skills and resources to improve their wellbeing is vital.
Gallup's State of the Global Workplace Report 2023 highlighted that 44% of the workforce is experiencing stress a lot.
The Chartered Institute for Personnel and Development (CIPD) found that staff took on average 7.8 sick days in the past year, up from 5.8 before the pandemic.
Stress is one of the main causes of short and long term absence.
McKinsey Health Institute survey found that global levels of burnout are 22%
Run the numbers to better understand how your team or organisation might be performing and if you don't have the data use the percentages above to work out what it might look like.
Can you afford this? What needs to change? Which of the 4 is a greater priority for your organisation?
Do you need further help?
If so, I offer a complimentary call to discuss your requirements and how we might work together to address any issues you may have.
