We interviewed a head of HR with a financial services organization client we work with. This is what they had to say about building workforce sustainability for long-term success.
We have three primary focus areas relating to our workforce: organizational efficiency, future workforce preparedness, and cultural integration.
- Organizational efficiency: As businesses face increasing pressure to perform and transform simultaneously, creating a leaner, faster, and more adaptable organization is crucial. This involves not only restructuring but also ensuring that our workforce is equipped to handle these changes effectively.
- Future workforce preparedness: The landscape of work is evolving, with multiple generations coexisting and new workforce models emerging. Our focus is on future-proofing our organization by developing the skills of our leaders and employees. This includes enhancing their agility and ensuring a holistic employee experience that supports diverse career paths.
- Cultural integration: Creating a cohesive culture that values diversity, equity, and inclusion (DEI) is essential. We strive to provide an exceptional employee experience from onboarding to exit, ensuring that our workforce feels valued and engaged throughout their journey with us.
Prioritizing internal talent
We have faced several organizational changes recently, including a global headcount reduction. Such measures can be unsettling for the remaining employees. To address this, we have implemented various change programs, designed to support our people through periods of transition. They include modules on vision setting, empathetic management, and navigating organizational dynamics.
We understand the importance of responding to employee needs, so last year we conducted our annual engagement survey during a period of organizational change, demonstrating our commitment to listening and addressing concerns, even in challenging times.
Given the economic fluctuations and organizational restructuring, retaining our top talent has become more critical than ever. We want to ensure our employees feel valued and see clear paths for growth within the company.
We’ve developed a comprehensive internal mobility strategy, which includes:
- Internal talent marketplace: Our internal platform allows employees to explore and apply for project-based opportunities that align with their skills and career aspirations. It encourages employees to expand their capabilities and take on new challenges within the organization.
- Development weeks and learning days: We dedicate specific times for learning and development. For example, we have a designated learning day each week for our teams, where they can engage in training, experimentation, and skill enhancement activities.
Creating a continuous learning culture
To keep our workforce engaged and continuously developing, we offer a variety of learning opportunities, all part of a comprehensive strategy that places continuous learning at its core. Our initiatives cater to various career stages and functional needs, ensuring employees are equipped to meet future challenges.
Our learning programs range from new manager training to technical skill development. These initiatives help employees build on their existing skills and acquire new ones, supporting career growth and adapting to evolving industry demands.
Balancing immediate needs with long-term vision
Balancing short-term needs with long-term goals is an ongoing challenge. While we have a clear vision and purpose, the rapidly changing environment often necessitates agile and adaptive planning. Sometimes, the execution leans towards the short-term. This is partly due to the realities we face, which can make it difficult to maintain a long-term focus consistently. But our focus remains on aligning our workforce strategies with the broader organizational vision to ensure sustainable growth.
For us, having a sustainable workforce is about ensuring we have the right talent in place to support our long-term business success. We can do this through:
- Continuous upskilling: It is essential to keep our workforce's skills up to date. We achieve this by investing in continuous learning and development programs that help our employees stay ahead of industry trends and technological advancements. By providing opportunities for professional growth and skill enhancement, we ensure that our team remains adaptable and capable of meeting future challenges.
- Psychological safety and inclusive culture: Creating an environment where employees feel safe, heard, and valued is a cornerstone of our sustainable workforce strategy. We prioritize psychological safety by encouraging open communication, fostering mutual respect, and promoting diversity, equity, and inclusion. An inclusive culture empowers individuals to bring their authentic selves to work, leading to increased engagement, collaboration, and innovation.
- Purpose-driven development: Aligning our development initiatives with the organization’s overall purpose and values is vital for cultivating a motivated and committed workforce. We design training and career development programs that not only enhance employees' skills but also connect their personal growth to our broader organizational mission. By linking individual development goals with our strategic objectives, we inspire employees to contribute meaningfully to the company's success.
By focusing on these areas, we aim to build a resilient, agile, and motivated workforce that is well-equipped to drive our long-term business objectives and thrive in an ever-changing environment.
