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Quality Workforce Connections to People, Purpose and Resources Help Retain Talent, Boost Productivity and Spur Innovation: Deloitte Research
Quality Workforce Connections to People, Purpose and Resources Help Retain Talent, Boost Productivity and Spur Innovation: Deloitte Research
Published 02-06-07
Submitted by Deloitte
NEW YORK, NY - February 6, 2007 - A new report by Deloitte Research and Deloitte Consulting LLP (Deloitte Consulting) provides guidance organizations should consider on how they can significantly improve bottom-line results by fostering and promoting connections in the workplace. According to the report, "Connecting People to What Matters," creating effective workforce connections to people, purpose, and resources may increase competitive advantage by helping to improve an organization’s productivity, innovation, and growth.
"Addicted to our computers, cell phones, and PDAs, we are more technologically connected than ever before; ironically today’s technology-hyped environment can actually weaken the quality of people’s connections that enhance performance," explains Ainar Aijala, principal, vice-chairman and deputy CEO of Deloitte Consulting LLP and global leader of Deloitte Consulting's Human Capital service area. "How people connect, and the quality of those connections, can mean the difference between a loyal, thriving workforce that’s highly engaged and a costly revolving door as global labor markets continue to get tighter."
The Deloitte Research/Deloitte Consulting report notes that people's jobs are much more complex, technology can be both a distraction and an asset, and workforces are increasingly more diverse in terms of gender, race, ethnicity, sexual orientation, and generational differences. The report concludes that these changes have made it very difficult for today's workforce to make quality, value-driving connections.
Moreover, the report points out that being disconnected also gets in the way of employers understanding what their employees need and want in their work experience to perform effectively and stay engaged. The report also concludes that even the most effective recruitment tactics, rich compensation packages, and "hot skills" bonuses won't help employers keep critical talent for the long haul because these tactics don't get to the root of talent churn.
"Supply and demand are out of whack when it comes to talent and has made this a seller’s market for employees," notes Jeff Summer, principal and global leader of Deloitte Consulting’s Talent Management practice. "Employers need to become connected to their employees to deliver on what they need and want in the workplace, such as interesting work, career development, and flexibility in exchange for their highly sought after capabilities. We expect that in-demand talent will continue to 'vote with their feet' by seeking opportunities at other organizations that have adjusted to these new workplace realities."
According to the report, it's critical for employees and employers to foster three primary types of connections:
To illustrate this perspective on connections, the Deloitte Research/Deloitte Consulting report includes several case studies of top-performing organizations, including business intelligence software company SAS, which has experienced 29 years of continued revenue growth and was recently named to FORTUNE magazine's annual list of the "100 Best Companies to Work For" for the 10th year in a row.
"Our corporate culture is based on trust between employees, customers, and the company," said Jeff Chambers, Vice President of Human Resources for SAS. "We care about employees' personal and professional growth, which inspires them to do great work. Employees who solve our clients' biggest problems yield happy, committed customers. It isn't altruism. It's good business."
The report also identifies eight practical tips leaders should consider in creating such effective connections within their organizations, including:
"Connecting People to What Matters" is the latest report in Deloitte Research’s Talent Management series: "It's 2008: Do You Know Where Your Talent Is?". More information on the series and a copy of "Connecting People to What Matters" is available by contacting Britton Josey at 404-220-1334; bjosey@deloitte.com or by linking to www.deloitte.com/us/connect.
About SAS Institute, Inc.
SAS is the leader in business intelligence software and services. Customers at 40,000 sites use SAS software to improve performance through insight into vast amounts of data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products. Only SAS offers leading data integration, intelligence storage, advanced analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world THE POWER TO KNOW® .
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