Representing the voice of employees

2024-09-08 08:30:56, Aktualitet CNA

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The latest report published by Gallup ¹ for 2024 shows that employee engagement worldwide is only 23% and low levels of this engagement cost the global economy 8.9 trillion US dollars, or about 9% of global GDP.

Employees today have more and more opportunities and influence in the labor market.

3 or 4 years ago, the rules of the employment relationship were generally dictated by the company: how the work would be done, where and when it would be done.

Today, with the fight for talent, access to information, the possibility to work remotely or from different locations, employees have more power in determining the rules of the game than before.

This tendency is observed not only among employees of generation Z, but it has begun to spread among employees of other generations who have become more sensitive to aspects of the employment relationship.

Recent data show that the impact of a toxic environment on employee turnover is 10.4 times stronger than financial compensation ² .

According to Deloitte's global report on Human Capital Trends, the increase in power that employees have has come for several reasons, the main ones being:

First, the war for talent: Today, employees have more job options than before, giving them more options to choose the main reasons for choosing/leaving an employer.

Interestingly, Deloitte's report ³ on Generation Z and Millennials shows that they are willing to terminate employment relationships even if they have no other job option.

Second, technological changes: Technological changes enable employees to choose different forms of employment relationship and allow you to connect and communicate in real time about any concern or event that occurs in the company.

The gap between this trend and the readiness for its implementation

According to the data of the global report ⁴ , 84% of the participants in the survey think that this trend is important or very important for the success of their organization, but only 17% are ready to address it, making this trend the second with the lowest ranking for readiness rate.

In the case of Albania, participants were more willing to address this trend than the global average.

From our understanding, we think that this is related to the fact that this trend includes more aspects than the design of employee welfare programs (well-being) or the review of benefit schemes (financial and non-financial) that are being undertaken mainly by organizations in the country.

Source: Deloitte Albania

Survey participants were asked to identify the issues in the employment relationship for which employees most requested changes.

According to the data, both in our country and in the region, benefits, professional development and compensation are the most important.

Source: Deloitte Albania

This trend requires organizations not to be reactive (acting only when employees raise their voice), but to be proactive to address other issues, the effects of which are greater in the long term.

To address this trend, organizations must build an open, collaborative and co-creative relationship that includes employees in the decision-making process for issues related to the employment relationship./ Monitor.al

Representing the voice of employees