Motivation Matters - How Great Employee Experience Drives Company Success

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Motivation Matters

How Great Employee Experience Drives Company Success

IN ASSOCIATION WITH

© 2021 FORBES INSIGHTS | 1


TABLE OF CONTENTS

3 What’s At Stake?

The Benefits Of A
4
Reimagined Workplace

Navigating Today’s Changing


5
Landscape Of Work

7 What Do Employees Really Want?

9 Recommendations & Conclusion

11 Microsoft Solutions

2 | MOTIVATION MATTERS: HOW GREAT EMPLOYEE EXPERIENCE DRIVES COMPANY SUCCESS


What’s At Stake?
Just as customer
experience is about
delighting the customer,
employee experience
is about delighting the
employee. Both lead to
the business opportunities
companies need to
stay competitive.
While delivering superior customer experiences is a top “To get the best
business priority, leaders sometimes overlook employee
experience.
people nowadays,
Those companies are severely missing out. Organisations
you need to
that succeed in today’s economy have something in common: contemplate the type
They’re powered by deeply motivated workforces. Their
employees aren’t only enjoying generous compensation of work arrangements
and high job satisfaction, they also bring an innate sense
and leadership you
of  belonging, ownership and inspiration to their roles. They
have flexibility over their schedules and work locations, feel provide, virtually
heard and respected, can access opportunities for professional
and personal growth and possess a sense of purpose.
as well as in person.”
A superior employee experience empowers an entire DR. TSEDAL NEELEY
ecosystem of employees through an open and accommodating HARVARD BUSINESS SCHOOL
corporate culture. It provides a workplace that fosters
autonomy, decision-making, opportunity and ongoing
learning and collaboration, supported by technologies and
resources.

“The world has changed, work has changed, workers have


changed,” says Dr. Tsedal Neeley, Harvard Business School
professor and author of Remote Work Revolution: Succeeding
From Anywhere. “To get the best people nowadays, you
need to contemplate the type of work arrangements and
leadership you provide, virtually as well as in person.”
© 2021 FORBES INSIGHTS | 3
The Benefits Of A
Reimagined Workplace
The recent surge of Deeper employee satisfaction. 90% of workers believe
more flexible work policies increase morale, reports one

remote and hybrid work workplace survey. While the results indicate that many
employers aren’t particularly flexible, “those who respond
is only the latest chapter to their workforce’s desire for flexibility have a competitive
advantage in the marketplace,” the survey authors note.
in the reshaping of the “Flexibility breeds happier, more loyal employees who

corporate landscape. are inspired to support their organisation as much as their


organisation supports them.”
The data tells an
Increased access to talent. This reimagining of the
encouraging story. workplace is occurring against a backdrop of an intense
global talent war. Companies across all sizes and industries
In a recent Forbes survey, 68% of executives report increased are struggling to attract and retain candidates. Needs
productivity from more flexible work arrangements, 41% are extend beyond technology skills – they encompass
benefiting from a larger talent pool and 34% report a rise marketing, product development, leadership and more.
in innovation as a direct result. An enlightened workplace helps make an organisation
an attractive place to work. In addition, with work
Reimagining work can ultimately deliver a superior employee arrangements that enable ‘work from anywhere’, a company
experience for top talent and enhance basic employee can recruit talented employees from any region of the
satisfaction. Employees will have a sense of the business and world.
their roles in it, versus feeling as though they simply fill a job

68 %
slot. This leads to enhanced customer experience, service
delivery and product development.

Stronger performance. An open and innovative corporate


culture makes a significant difference. One study finds that
organisations providing a positive employee experience
outperform their cohorts threefold for return on assets and
of executives report
twofold for return on sales. Likewise, an emphasis on learning increased productivity
delivers results. A survey of more than 600 employees finds from more flexible work
that 59% say training and education improve their overall
job performance.
arrangements.

Enhanced innovation. An open, collaborative workplace


spurs innovation. A survey conducted by the MIT Centre
for Information Systems Research finds that companies
that invest the most in employee experience saw twice the
rate of innovation as their lagging counterparts.

4 | MOTIVATION MATTERS: HOW GREAT EMPLOYEE EXPERIENCE DRIVES COMPANY SUCCESS


Navigating
Today’s
Changing
Landscape
Of Work
The recent pace of
employee resignations
is a red flag. According
to estimates, 25% of
workers left their jobs
in 2021 so far.
The problem for many companies in meeting this challenge
is that they’re in denial, Neeley says. “Traditional work
arrangements we’ve known for decades have been
completely shaken up. But many recognise there’s no
turning back, so we better embrace this and compete in this
environment.”

Rewards such as pay bumps and bonuses have always been


primary motivators for attracting and keeping talent. Yet,
today’s employees also are just as energized by a variety
of intrinsic rewards that accompany passion for a job: a
sense of belonging, opportunities for growth, a sense of
purpose and participation in decision-making, for example.
The competitive differentiator for organisations in the
next decade will be their ability to offer meaningful work
environments that provide these intrinsic rewards.

Remote and hybrid work had been catching on in recent years


as employers recognised flexibility as a tool for achieving

© 2021 FORBES INSIGHTS | 5


employee satisfaction. This trend accelerated during the
Covid-19 crisis. Digital technologies have made centralised,
core workplaces unnecessary and ‘work from anywhere’
is now a reality for many knowledge workers.

Executives are continuing to embrace the value of flexible


work. Forbes research finds that 60% agree that work at their
companies will be defined by more flexible arrangements
where employees can choose when, where and how they
work. The research also shows that 64% of companies are
implementing hybrid work on a permanent basis and 28% of
CXOs report that within one year their organisations will allow
employees to work wherever and however they prefer.

Workforces are increasingly more diverse in terms of gender,


race and nationalities. Today’s teams are also blended in terms
“Traditional work of geography, life circumstances and work schedules – with core

arrangements we’ve employees on staff, front-line employees on production floors


or in the field, contractors and part-time employees in support
known for decades roles and service providers in key roles.

have been completely A study by Deloitte and MIT Sloan Management Review finds

shaken up. But many that most managers today (87%) “consider employees and
other workers who create value for the enterprise – including
recognise there’s contractors, service providers, gig workers and even software
bots – to be part of their workforce.”
no turning back,
so we better embrace
As a result, decision-making is growing more distributed. The
hierarchical, command-and-control structures of organisations

this and compete are being replaced by more autonomy within employee ranks.
Corporate tasks are completed through teams, which often
in this environment.” are formed around a specific challenge or opportunity, then
disbanded as members move on to new ideas.
DR. TSEDAL NEELEY
Harvard Business School Technology also plays a major role in reshaping work.
Software-as-a-Service (SaaS) platforms are setting the stage
for new working arrangements and task management, versus
relying on internal managers. To look at project updates,
as well as colleagues’ latest input, employees simply log into
a cloud-based service that stores and manages their files and
conversational threads. In addition, employees and contractors
are accessing corporate networks via a variety of devices, from
laptops to smartphones. On-premises apps and data are being
replaced with SaaS and cloud resources.

6 | MOTIVATION MATTERS: HOW GREAT EMPLOYEE EXPERIENCE DRIVES COMPANY SUCCESS


What Do Employees
Really Want?
The key is for
organisations to leverage
these trends in order
to retain and attract talent
and compete in today’s
global economy.
To get there, business leaders need to understand what
employees truly seek from employers.

People crave value, joy and a sense of purpose from their


jobs. They’re ready to make the shift to more meaningful
work, and alternative options are increasing in today’s
environment in which enterprises are fiercely competing for
the brightest candidates.

“They want to feel that their contributions are recognised


and that their team is truly collaborative,” McKinsey analysts
report. “They desire clear responsibilities and opportunities
to learn and grow.”

This drive for more meaningful work could intensify. Gen


Z –  individuals between 18 and 25 and thus a core component
of  the 2020s workforce – share “difficulties feeling engaged
or excited about work, getting a word in during meetings
and bringing new ideas to the table.”

How can managers cultivate a more inspiring workplace? It’s


essential to first consider the variety of intrinsic factors that
people want from their employers.

More decision-making. One sur vey repor ts that


45%  of employees and 40% of executives don’t believe their
feedback leads to meaningful change. Among those who feel
this way, over a third are already hunting for new jobs.

© 2021 FORBES INSIGHTS | 7


Flexibility and work-life balance. A survey of more than 900
workers finds that 76% want their company to make work
permanently flexible in terms of schedule and/or location.

Opportunities for career and personal growth. Employees “Helping individuals


genuinely care about learning new skills and deepening
their insights. A Pew Research Centre study finds that develop and imagine
46%  of   workers under age 30 say they don’t have the
education needed to get ahead in their jobs. “Helping
a path they can travel
individuals develop and imagine a path they can travel on really on really motivates
motivates them intrinsically,” says Neeley. “Development,
growth and well-being are incredibly important.” them intrinsically.”
Ability to collaborate across the company. “The transition DR. TSEDAL NEELEY
to project-based work creates new requirements and HARVARD BUSINESS SCHOOL
opportunities for organisations to bring in external talent for
specific engagements or to use internal talent marketplaces
that enable employees to move easily among departments
to meet emergent demands,” according to the authors of an
MIT-Deloitte study.
A sense of purpose. Employees want their work
Trust. Offering flexibility and autonomy reflects an employer’s to  be  meaningful to society at large. Research finds that
trust in its employees. Enabling independent work “speaks 95% of employees believe businesses should benefit not
to freedom and to being trusted,” says Neeley. “You can only just shareholders, but all stakeholders – from employees,
do that as an organisation or a leader if you trust your people. customers and suppliers to the communities they operate
What happens if you as an employee feel trusted? You’ll within. Leaders shouldn’t overlook staff’s desire to make
have the employees’ hearts if you give them ownership. It’s a a  difference: 70% of employees say they wouldn’t work for
powerful form of leadership.” a  company without a strong purpose.

8 | MOTIVATION MATTERS: HOW GREAT EMPLOYEE EXPERIENCE DRIVES COMPANY SUCCESS


Recommendations
& Conclusion
Corporate culture sets the
tone for solid values and
enhanced performance.
In an advanced corporate
culture, people aren’t part
of a team simply because
they work together.
Rather, teamwork is defined by something deeper: mutual
respect and commitment to serve colleagues and customers.
Creative approaches are required to lay the groundwork for
this kind of supportive environment. Business leaders should
aim to:

Inspire.
A powerful motivator in our professional lives is inspiration
– a desire to contribute to something bigger than ourselves.
Thus, leaders should build awareness around the company’s
core values and purpose, beyond revenue generation.
“These values need to be formulated and clearly articulated,”
says Neeley. “One way to retain people is to excite them
around your mission, your vision, your contribution to the
world. People are craving an environment that will give
them a purpose and a feeling that what they’re doing every
day matters. Otherwise, company A and company B are
indistinguishable for workers.”

Liberate.
Foster autonomy, self-management and self-service. A sense
of ownership about work comes with self-responsibility
and confidence. While management needs to provide the
resources and environment that make this possible, effective

© 2021 FORBES INSIGHTS | 9


managers trust employees to make the right decisions. “Think
about outcomes that are important to your company, focus
Retool.
on those outcomes and help people get there,” says Neeley.
Today’s enterprises are networks of highly dispersed
“Make sure people have the right equipment and the right
employees, contractors and partners, all working with their
skills. Empower people so they can be able to make decisions,
own devices and systems. This is evidenced in hybrid work
self-govern and work autonomously.”
arrangements, in which employees work remotely, on-site or
in some combination of the two. “When it comes to remote
Share. work, hybrid work and even in-person work, digital tools will
be incredibly important,” says Neeley. Don’t run from digital
Exchanging knowledge with employees at all levels not only transformation: “Many companies are training hundreds
encourages collaboration but could also spur innovation, of thousands of people in the use of digital tools and various
since employees near a problem or opportunity may forms of technical skills so they can participate in a work
contribute ideas that translate into efficiency and growth. This environment that’s changing.”
requires an inclusive atmosphere where all voices are heard
and acknowledged – even when employees are working
virtually across the globe, Neeley explains. “Democratise
Educate.
communication. Ensure that people who tend to dominate
In today’s digital economy, what may seem to be the most
conversations are dialed down, and those who tend
cutting-edge technical skills can be quickly outdated.
to  withdraw and retreat are dialed up.”
Employees need to refresh skills through regular training.
Success in the digital economy will also require an emphasis on
Create. skills like leadership, empathy and entrepreneurial outlooks.
Respondents from the Pew study say that interpersonal skills,
Encourage a culture of innovation. Creativity is just as vital as critical thinking and good writing and communication are
a ‘hard skill’ like programming or data science. In an analysis most important for their jobs.
of desired skills, creativity was cited as a top skill sought by
companies, along with cloud computing. “Cloud computing Reimagining the workplace means putting people at the

is a hard skill, which means it applies to only a section of the centre of the organisation and empowering them to take

workforce and doesn’t have the staying power a soft skill ownership of their development and fulfillment. “Work gives

has,” the survey’s authors observe. “Conversely, learning us purpose, it gives us relationships, it gives us identity,

how to think more creatively will benefit you the rest of your it gives us a way to think about ourselves, our world, our

career.” families, our communities,” says Neeley. “Smart companies


recognise that mission and work-related purpose are what
motivate people.”
Branch out.
Recognise that a team-driven environment must extend
beyond enterprise walls. “...Most workforce-related practices,
systems and processes focus on employees, not external
workers,” according to the MIT-Deloitte report. “Workforce
planning, talent acquisition, performance management and
compensation policies, for example, all tend to focus on full-
time, and sometimes part-time, employees. Consequently,
organisations often lack an integrated approach to managing
a workforce in which external workers play a large role.”

10 | MOTIVATION MATTERS: HOW GREAT EMPLOYEE EXPERIENCE DRIVES COMPANY SUCCESS


Microsoft Solutions
Powered by Microsoft 365 and experienced primarily through
Microsoft Teams, Viva fosters a culture where people and

Microsoft offers tools


teams are empowered to be their best from anywhere.

and resources that ƒ Microsoft Viva Topics automatically organises content and
expertise across organisations, making it easy for people
enrich the employee to find information and put knowledge to work, using
AI  to surface expertise in the apps they use every day. Viva
experience and Topics automatically organises content across apps and

deliver on intrinsic teams with built-in security and compliance features.

motivators. Microsoft ƒ Microsoft Viva Connections gives everyone a personalised


destination to discover relevant news, conversations and the
Viva is an employee tools they need to succeed. Shape an inclusive corporate

experience platform culture where everyone has a voice.

that brings together ƒ Microsoft Viva Learning empowers people to better


themselves with employee training – naturally and
communications, without disruption. Encourage a culture of growth that

knowledge, learning, helps people reach their potential.

resources and insights ƒ Microsoft Viva Insights improves employee productivity


and well-being with data-driven, privacy-protected insights
in the flow of work. and actionable recommendations, helping people build
better work habits, track and improve the effectiveness
of  their meetings and more.

© 2021 FORBES INSIGHTS | 11


Forbes Insights is the
strategic research and
thought leadership
practice of Forbes Media,
a global media, branding
and technology company
whose combined
platforms reach nearly
94 million business
decision makers worldwide
on a monthly basis.

By leveraging proprietary databases of senior-level executives


in the Forbes community, Forbes Insights conducts research
on a wide range of topics to position brands as thought leaders
and drive stakeholder engagement. Research findings are
delivered through a variety of digital, print and live executions,
and amplified across Forbes’ social and media platforms.

JOE MCKENDRICK
Report Author

499 Washington Blvd., Jersey City, NJ 07310 | 212.367.2662 | https://www.forbes.com/forbes-insights/


© 2021 FORBES INSIGHTS | 12

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