Benefits of Culture Change for Talent Management
By now, you're likely familiar with the “Great Resignation,” the tsunami of resignation letters that first began their descent on the business landscape in 2021. Much less discussed is the collective “oh crap” ushered by business leaders everywhere, as a record 50 million employees quit their jobs in 2022.
Suddenly, retaining employees got a lot harder than ever before. Not to mention the challenge of attracting top talent to fill all those vacancies - something plenty of companies are still struggling with today.
If you’re one of the many employers hunting for the real key to employee satisfaction, then it’s time to check out CultureRx, a management consulting firm behind an adaptive change framework known as Results-Only Work Environment® (ROWE)®. While the Great Resignation hasn’t been a walk in the park, CultureRx is helping businesses seize the opportunity to transform their company culture into a major asset.
The Current Talent Landscape
You’re not alone if you count yourself among the many employers who still feel as confused after a sudden breakup. But while the Great Resignation may have felt like a spark that exploded into a wildfire overnight, a closer look reveals that its embers have been smoldering for much longer.
Some signs began to appear more recently. Take, for instance, the 2019 SHRM study, which revealed that:
- Nearly half of employees had considered quitting their jobs
- Over 25% dreaded showing up to work every day
- Over 75% said their manager set the company culture, yet over 35% also reported their manager had no idea how to lead their team
But what exactly was the problem keeping so many companies from delivering employee satisfaction? The answer has actually been around since 1979 when sociologist Robert Karasek presented what he called the Job Demand/Control Model.
The main problem, Karasek said, wasn’t that employees really wanted Friday afternoons off, the option to work from home, or even better compensation. It was the combination of a heavy workload and no control (autonomy) over how to complete it.
In essence, company culture is a lot more important than many employers seem to think. Recent studies have only confirmed what social science has been saying for decades - company culture inspires 10x more resignations than salary or compensation issues.
Culture Change and Talent Acquisition
It was with social science-backed insights in mind that CultureRx developed a revolutionary new approach to culture change. For nearly 20 years, the firm has worked together with HR leaders to transform companies around the world into Results-Only Work Environments (ROWE).
Going ROWE gives business leaders everywhere the freedom to finally admit that the outdated 9-5 talent management systems of old are no longer working. Today’s top talent no longer buys into the belief that doing great work equals spending 40 hours a week at a desk under the watchful eye of a surly manager.
But we’ll let you in on the secret that’s still eluding many employers - offering employees the chance to stick to the exact same policies from home isn’t doing you any favors in the talent acquisition department. Adopting a ROWE isn’t about offering a hybrid schedule or more flexibility.
It’s about giving each employee the chance to shine their brightest through the balance of 100% accountability and 100% autonomy. ROWEs everywhere have discovered firsthand that attracting top talent isn’t about imposing more control but about creating a company culture where employees enjoy the freedom to control their own lives.
Want to find out whether your company culture and talent acquisition struggle go hand in hand? Find out with our Free 2-Minute Quiz.
Improving Employee Engagement and Productivity
Many employers are amazed at what their employees can achieve when they create a work culture that keeps the focus squarely on results. Traditionally, talent management has been all about upholding rules that designate where, when, and how people should be working.
Here is the problem - that leaves managers exactly no time to focus on? The results that their employees are (or aren’t) actually producing!
In a ROWE, a manager’s job is to ensure that everyone is 100% clear on exactly what’s expected of them and by when. Whether an employee chooses to do that work in the company’s open office space at 1 p.m. on Monday or on the beach over the weekend is no longer an issue.
All that matters is that everyone produces the results that are expected of them. But doesn’t that affect employee engagement and productivity?
Sure it does - for the better! Time and again, we’ve seen the magic of transforming managers from overseers to allies, all while giving employees the freedom to approach work in their own unique way.
We’ve seen expenses cut by 23% as net incomes surge by 94%. On-time delivery rates increase, innovation blossoms, and business skyrockets as everyone enjoys the freedom to be productive whenever and wherever they feel the most productive.
Enhancing Employer Brand and Reputation
As the 1989 movie Field of Dreams famously put it, “Build it, and they will come.” In other words, create a strong company culture, and you’ll soon find top talent flocking to your door.
Ironically, the best form of talent acquisition is completely free. When your top employees genuinely love their jobs, guess who they’re going to tell about it? Other high-potential employees who would love to join the party.
Never underestimate the power of word-of-mouth when it comes to getting the word out about your company’s amazing work culture. A ROWE combines the best of autonomy and accountability to create an unbeatable work-life blend that will quickly put your talent acquisition and retention woes in the rearview.
Time for a Culture Change
If the Great Resignation has taught us anything, it’s that the traditional workplace is long overdue for a make-over. Consider CultureRx your own metaphorical stylist who just can’t wait to fix your company’s DIY bangs and outfit it with a whole new wardrobe while they’re at it.
If you’re sick of being one of the countless employers still grappling for the secrets of talent acquisition and employee satisfaction, then reach out to CultureRx today. We'll be happy to provide you with expert insights on how positive culture change can give you the winning edge in today’s talent game.