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Almost three-quarters of business executives across the globe are confident that their organisations cultivate working environments where all employees feel safe, included and valued, according to the new Magnetic Workplace Report by Economist Impact, sponsored by Kyocera Document Solutions.
The report also found that 68% of business leaders are confident that their organisations have actively introduced recruitment processes to enhance diversity.
Based on research, expert interviews and a global survey of 250 business executives from Australia, Germany, Japan, the UK and the US, the report quantifies organisations’ confidence in their workplace’s attractiveness for employees based on three pillars: productivity and infrastructure, employee engagement, and culture.
The report comes amidst global labour shortages that have added pressure to the ever-present need to attract and retain world-class talent, and drive sustainable business growth.
Business leaders are increasingly pressed to rethink aspects of their workplace, such as establishing and nurturing workforce culture; increasing opportunities for diversity, inclusion and gender equality; and being responsive to the growing, global demand for more flexible and adaptable working options.
This calls for organisations to reimagine the traditional office space and establish ‘magnetic workplaces’ that employees are actively attracted to, rather than forced to be in. Additionally, business leaders must focus on building workplaces that enhance individuals’ talents and collaborative partnerships, allowing staff to reach their full potential.
Results from the report indicate that Australia, Germany, the US and the UK are all upbeat about the prospects of a transformed future workplace. However, Japan performed poorly on the barometer owing to a strong and rigid office culture. The findings also show larger companies are faring better as they have greater resources to adapt to a changing workplace.
"Technology is critical to building a magnetic workplace and this requires business leaders to take active measures towards ensuring every staff member has the necessary tools to unlock their full potential and do their work well, wherever that may be,” says Kazunori Ito, General Manager of Global Marketing Communication at Kyocera Document Solutions.
“We believe that investing in the right tools and adopting forward-thinking strategies that encourage and mobilise employees will contribute to fewer instances of staff attrition, and greater business resilience,” added Mr Ito.
In fact, 70.8% of survey respondents expressed confidence that their organisation would provide the technology infrastructure to facilitate greater productivity within the next five years. Similarly, most organisations expected to see improvements in their efforts to update and adopt the latest technology.
“Critically, beyond technology, employees want to work with companies that share their values and care about their well-being. So organisations must nurture a workforce that feels supportive and where staff can do satisfying and meaningful work and in turn, perform at their best and collectively uplift entire organisations.”
“We believe that the insights from the report have the power to change the world of work for the better and provide business leaders with a meaningful foundation to improve company culture, increase employee retention and fuel sustainable business growth.”
Learn more about The Magnetic Workplace and download the full report by visiting here.