If the tumult of 2020 has prompted your organization or leadership team to reconsider people priorities such as employee well-being, resilience, or purpose, then you’re in good company.
Your employees are reconsidering you, too.
Nearly two-thirds of US-based employees we surveyed said that COVID-19 has caused them to reflect on their purpose in life. And nearly half said that they are reconsidering the kind of work they do because of the pandemic. Millennials were three times more likely than others to say that they were reevaluating work.
Today, people have higher expectations of the organizations they work for, purchase from or invest in. Employees, consumers, shareholders, suppliers, governments and communities demand responsible organizations that are grounded in purpose and committed to delivering long-term value.
In this world of heightened corporate social responsibility and the renewed shift toward stakeholder capitalism, the promises companies make must be kept. And the only way to keep brand promises is with a purpose-driven culture.
Crises are adrenaline for innovation. You must make decisions quickly under extremely uncertain conditions, and you never have enough time or information to fully weigh difficult choices that may affect both employee livelihoods and the survival of the business. Yet these very constraints can unleash waves of creativity. Necessity and urgency spur ideas and dissipate inertia. Leading innovators seize such conditions to reshape mindsets and behaviors, embracing the opportunity to uncover fresh solutions and make bold bets that can reignite growth.
(Published by McKinsey & Company)
Around the world, a growing number of organizations are embracing agility to improve delivery, increase speed, and enhance customer and employee experience. Indeed, in the time of COVID-19, many organizations have accelerated their shift to agile. Our recent research found that agile organizations responded faster to the crisis, while those that do not embrace agile working may well forfeit the benefits of speed and resilience needed in the “next normal” after the COVID-19 pandemic.
(Published by McKinsey & Company).
The COVID-19 pandemic has thrown performance management systems into chaos -- and the reactions have been telling.
In March, Facebook announced that it would be giving all 45,000 employees the same "exceeds expectations" performance review rating for the first two quarters. Some companies canceled their next review cycle altogether. Others are scrambling to explain last-minute changes to their performance measures and reward allocations.
(Published by Gallup).