Unveiling Global Workplace Dynamics and Unlocking the Power of Employer of Record Solutions
Employee engagement isn’t just a buzzword; it's the secret sauce at the centre of any thriving organisation that keeps employees motivated, loyal, and committed to their roles.
In today's workforce, we are witnessing what is known as the 'Great Resignation,' although this might be more aptly described as the 'Great Discontent.' This mass migration from jobs is not merely an industry issue, but a workplace issue, and it’s affecting organisations around the globe.
We recently partnered with Gallup, an analytics and advisory company that specialises in workplace consulting, to present a webinar on global trends in workplace dynamics and how to successfully navigate the challenges of overseas expansion with the support of a direct employer of record service.
Engagement: The Key to Retention
Studies consistently reveal a strong correlation between employee engagement and retention. Engaged employees are not only more likely to stay with a company for longer, but they also contribute significantly to an organisation's success.
When we talk about employee engagement, we can categorise it into three distinct groups:
Engaged Employees: These individuals are deeply connected to their work and workplace, exhibiting enthusiasm and commitment that drives performance and propels the organisation forward.
Not Engaged Employees: This group lacks attachment to their work and company due to unmet engagement needs. They invest time in their tasks but lack energy or passion.
Actively Disengaged Employees: This category comprises individuals who are so unhappy that their needs aren't met that they exhibit resentment and act out their dissatisfaction.
While engaged employees are 30% less likely to be actively seeking new employment opportunities, disengaged or unhappy employees are often the first to seek greener pastures, leading to increased turnover rates and associated costs.
So how can you minimise your number of disengaged employees over time?
How to Prevent Quiet Quitting
One might begin by examining 'quiet quitting' among employees, a term used to describe employees who physically show up at work but remain mentally disengaged and disconnected. We’d categorise these employees as not engaged. According to research, at least half of the U.S. workforce falls into the quiet quitting category.
To understand why your employees might be tuning out begins with a deep dive into your organisation's culture. According to data from Gallup surveys, quiet quitting employees wish for changes in several key areas, including engagement or culture (41%), pay and benefits (28%), and well-being (16%).
Nurturing a culture of engagement goes hand in hand with offering competitive compensation and comprehensive benefits packages to keep your employees content and motivated.
The Crucial Role of Managers
A large portion of the daily employee experience is dictated by management. Over time the traditional boss-employee relationship has evolved into a coaching model, emphasising purpose and development rather than simply working towards a paycheck. Training your coaches to provide regular, ongoing conversations and feedback will help them meet the modern employee's desire for meaningful work and lead to higher employee engagement within their teams.
Remote Work Impact
Since the pandemic, the effects of remote and hybrid work have come under scrutiny. While some folks thrive working in their pyjamas at home, others feel they're at their best when they're in the office surrounded by colleagues. So does the physical office hold the same importance it once did?
Gallup's analysis makes this clear, with data telling us that when it comes to employee stress, engagement has 3.8 x more influence on employee stress as work location.
EOR Solutions: Simplifying Global Expansion
Expanding globally brings various challenges, including talent acquisition and retention, legal and regulatory compliance, training and development, and understanding cultural nuances. A Direct EOR acts as an intermediary between companies and their international employees, offering deep knowledge of local laws, handling hiring and onboarding, managing payroll and benefits, and mitigating risks associated with global expansion.
In a world where employees increasingly seek purpose and development, EOR services provide local, specialised knowledge to ensure that your company is attracting top talent by offering the most competitive and appealing packages and benefits. By leveraging EOR services, companies can access international markets with greater speed, compliance, and efficiency, ultimately ensuring a consistent and positive employee experience worldwide.
Want to Learn More About Global Expansion?
Schedule a time to meet with our team to learn more about how Atlas can support your global growth goals! During this call, one of our experts will discuss your specific needs and provide tailored recommendations for how Atlas can support you.