Innovator in Leadership and Professional Development Releases Findings in 2024 Workplace Trends Report
FARMINGTON, Utah, Jan. 10, 2024 /PRNewswire-PRWeb/ -- Arbinger Institute, the innovator of leadership and professional development that empowers leaders to transform an organization's culture, today released the results of its new 2024 Workplace Trends Report: Embracing Humanity at Work, a global survey of over 300 business leaders from non-supervisory employees to executive level that benchmarks employee sentiment and trends in the workplace. The Arbinger report finds job satisfaction is at an all-time low, with less than a quarter of professionals describing their job satisfaction at their company as excellent. The survey, conducted in partnership with research firm Ascend2, found that work-life balance is even more important than salary, and not far behind on that list of greatest contributions to job satisfaction is the feeling of doing meaningful work.
The biggest takeaway from the report's findings is that employers who want to succeed need to prioritize their company's most important asset: its people. With a focus on bringing humanity to the workplace, employers can emphasize individual strengths, promote meaningful contributions, and ultimately improve employee satisfaction and retention.
"Today's professionals want a workplace environment that not only complements their life outside of work but also serves as a place where they can contribute with purpose," said Ray Smith, SVP of People and Culture at the Arbinger Institute. "We understand that work environments are swiftly evolving due to the surge in remote work and the increased emphasis on achieving work-life balance. Amid these changes, many employers may grapple with the challenges of adapting and modernizing their work cultures in line with evolving expectations. This is precisely why the Arbinger Institute has developed specialized training and tools designed to support leadership, empower employees, and facilitate people-centric workplaces focused on high performance to achieve desired business results."
Imperative to Invest in Employee Wellbeing and Mental Health
Employers need to look at well-being and mental health as part of the employee experience, as burnout contributes to major issues in the workplace. Combatting stress and burnout to improve employee well-being is more than just awareness of workload and hours. It comes back to the concept of doing meaningful work and feeling appreciated for that work.
- Nearly 7 in 10 respondents reported that they experience feelings of burnout as a result of feeling underappreciated or unrecognized for their contributions
- Half want to see employers increase investments in benefits such as flexible work hours, paid mental health days, and mental health and stress management
- Only 29% of those surveyed reported being very satisfied with the steps that their organization has taken to address the well-being and mental health of employees
Communication and Collaboration Trends
Improving communication and collaboration is an ongoing process that requires shifts in mindset across an entire organization. With a focus on building relationships across teams, individuals, and organizational leaders, employers can mend gaps in communication and collaboration to drive growth.
- A critical component of employee job satisfaction and company growth is communication and collaboration in the workplace—employees who say they are the most satisfied with those are 5x more likely than others to be working for companies that experienced significant revenue growth last year
- Success starts at the top. 80% of professionals surveyed were looking for a trustworthy and reliable leader. Three-quarters highly valued a leader's ability to listen genuinely
- 41% of organizations in accelerated growth mode have excellent communication versus 15% of all others
- 48% of those in accelerated growth mode have excellent collaboration versus 17% of all others
Improving Employee Engagement and Morale Through Professional Development
Redefining the performance review process offers a potential solution for addressing the sentiments of undervaluation and underappreciation among employees. Performance reviews are a tool that should include ongoing feedback from leadership and peers, training and growth opportunities, and the ability of each employee to understand their impact on a company's wider goals. Those surveyed who used reviews for improvement were three times more likely to foster better employee morale and improved outlooks on company growth. Other statistics include
- One-third of professionals surveyed valued actively participating in performance reviews for improvement
- 38% report reviews as somewhat helpful, leaving 30% dissatisfied or labeling reviews as a complete waste of time
- Only 23% reported receiving ongoing feedback about their overall job performance, career and development opportunities, personal development well-being, and compensation
- Half confirmed their reviews do not include discussing the impact on company goals; those who did discuss their impact on company goals are over two times more likely than others to feel recognized by leaders
"Achieving employee job satisfaction is less about managing resources and more about empowering individuals. When people are encouraged to bring their humanity to the workplace and they are empowered to unleash all their creative energy to do their work in way that is focused on their impact on others, the sky's the limit for what both they and the organization can accomplish," added Mitch Warner, a Managing Partner at the Arbinger Institute.
To learn more about how Arbinger Institute can help transform workplace culture and read the 2024 Workplace Trends Report, please visit here.
About the Survey
Ascend2 benchmarks the performance of business strategies and the tactics and technology that drive them. With a custom online questionnaire, we surveyed 304 professionals from non-supervisory employees to executive leadership. These individuals represent organizations located in North America, Europe, and APAC regions, with 500 to 10,000 employees operating in a variety of industries. The survey was fielded in October 2023.
About The Arbinger Institute
The Arbinger Institute is the innovator of leadership and professional development that empowers leaders to transform their organization's culture to achieve lasting business results. With its unique focus on changing mindsets in order to change behavior, Arbinger's research-backed process gets to the core of cultural transformation to drive sustainable change. By bringing humanity to the workplace, Arbinger improves employee engagement and retention, inspires team collaboration and inclusivity, and the bottom line. For more information, visit https://arbinger.com/.
Media Contact
Aimée Eichelberger, Superior PR, 312.952.1528, [email protected], http://superior-pr.com/
SOURCE Arbinger Institute
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