Category Archives: employee engagement

Just How Bad Are We at Engagement?

dv2171020Engagement was certainly on the minds of speakers and attendees at the recent HR Tech Conference in Chicago. (Here’s a link to the conference site, FYI, which already has information about next year’s event.)

From this session covered by Mark McGraw, Engaging the Talent of Tomorrow, to this one covered by David Shadovitz, What’s Driving Engagement, there seemed to be a lot of buzz about what’s working at some companies (especially in McGraw’s post), what needs to be happening in terms of technology, training and the treatment of employees (particularly in Shadovitz’s post), and a whole lot more.

One study released at the conference but not mentioned yet came from Saba, showing just how bad companies still are at simply carrying out the basics — not only in terms of engagement, but overall management tactics too. That survey, completed in August, shows most businesses are “not in tune with their employees’ perceptions of engagement, training and career development,” according to Saba’s release.

With so much attention being paid to the need for keeping employees engaged, retained and productive, you’d think most companies are at least asking for more feedback, or figuring out better ways to ask for more feedback. Saba says no, that is not happening much at all.

For the most part, the report says, companies do not have continuous channels for engagement and feedback because the majority of employees are rarely asked for their feedback — less than a few times a year. Other highlights of the August survey of 1,200 U.S. HR managers and employees include these two points, suggesting some troubling gender issues wrapped up in all this:

  • Sixty-eight percent of baby boomers and 61 percent of female employees indicated they were rarely asked for feedback, versus 56 percent of male employees.
  • At the same time, women were also less comfortable giving their input. The survey showed only 56 percent of women are comfortable giving feedback, compared to 63 percent of men. “This implies a statistical disconnect that needs to be immediately addressed by HR and learning teams,” the report says.

Another gem from the release:

“Based on these statistics and anomalies in engagement, it’s understandable why more than half of HR leaders (51 percent) and employees (52 percent) believe their organizations do not have a good employee-feedback process.”

In terms of initiating better training programs to keep employees producing and staying put, companies aren’t doing so good there, either. Only 22 percent of employees believe their organizations are very effective in providing easy access to training and development.

What’s more, 86 percent of millennials, often the highest flight risk in the organization, indicated they would be more inclined to stay at their current company if they were given access to quality training and development. So what’s the holdup here? As Theresa Damato, vice president of global marketing at Saba, sees it:

“While most organizations will agree that talent is their most important asset, [this] survey highlights the struggle many have in effectively engaging, assessing and developing their people.

“Organizations need to focus on the critical role continuous development plays in employee engagement and retention. They also need to find new ways to improve effectiveness of talent programs through more frequent and consistent feedback channels.”

And for the most part, she and others at Saba indicate, that is hardly happening at all.

Except, it would seem, in the handful of success stories — or at least stories of successful starting points and strategic approaches — shared at HR Tech.

My guess is, if we’re doing this bad at the feedback basics, then this engagement conundrum/roadblock is  going to be on the minds of attendees and the agendas of many conferences to come.

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Being a Black Professional Woman

I’m probably wrong going into this: posting something about what it’s like to be a black woman in corporate America when I’m white.

523400310-black-professional-womanI probably don’t get extra points for being a member of a mixed-race family
either. In today’s
hypersensitive, hyper-volatile,
racially divisive
environment, I tend to shy away from my biracial nephew’s political Facebook posts and stick to our shared summer-vacation pictures, and our beautifully diverse family updates. What right have I to even “Like” something I can’t possibly know?

But I decided to post this release anyway, about a documentary airing this coming Wednesday in Oakland, Calif., Head Not The Tail Productions’ Invisible Women: Being a Black Woman in Corporate America. Not because I’m vying for any points, but because what happens to black women in or pursuing corporate careers should be something we all take seriously. And dealing with it should be all our jobs as well.

The disappointment, discrimination and rejection described by the many women in the documentary (the link above includes another link to a short teaser trailer worth watching) is often subtle, say diversity experts, as is corporate unconscious bias, which we’ve reported on on our website and here on HRE Daily.

“In conducting the research, we found the corporate practice of discrimination to be a common harsh reality faced by countless women of color,” says Melody Shere’a, HNTT Productions’ founder and CEO, and director of the film. As her release states,

“The playing field isn’t level and well-qualified black women are too frequently denied the opportunity to explore similar career-growth opportunities as their white and other female counterparts. The facts and details you will learn from this documentary will surprise you.”

Granted, most of you are nowhere near Oakland, Calif., but I imagine a call to Shere’a at the number provided in her release would prove fruitful in getting your hands on the film. It’s worth a try. You can’t improve diversity in your corporate culture if you don’t fully understand all forms of discrimination and how they’re being perceived by those on the receiving end.

For that reason, I encourage you to give this a read as well, a professional black woman’s response to a white friend of hers asking for a better understanding of white privilege. Like the documentary, this piece by Lori Lakin Hutcherson, founder and editor-in-chief of Good Black News, centers on the subtleties she has had to contend with throughout her career — including her education at Harvard University. As she details for her friend:

“When I got accepted to Harvard — as a fellow AP student, you were witness to what an academic beast I was in high school, yes? — three separate times I encountered white strangers as I prepped for my maiden trip to Cambridge that rankle to this day.

The first was the white doctor giving me a physical … .:

Me: ‘I need to send an immunization report to my college so I can matriculate.’

Doctor: ‘Where are you going?’

Me: ‘Harvard.’

Doctor: ‘You mean the one in Massachusetts?’

The second was in a store, looking for supplies I needed from Harvard’s suggested ‘what to bring with you’ list:

Store employee: ‘Where are you going?’

Me: ‘Harvard.’

Store employee: ‘You mean the one in Massachusetts?’

The third was at UPS, shipping off boxes of said ‘what to bring’ to Harvard. I was in line behind a white boy mailing boxes to Princeton and in front of a white woman sending her child’s boxes to wherever:

Woman, to the boy: ‘What college are you going to?’

Boy: ‘Princeton.’

Woman: ‘Congratulations!’

Woman, to me: ‘Where are you sending your boxes?’

Me: ‘Harvard.’

Woman: ‘You mean the one in Massachusetts?’

I think: ‘No … the one downtown next to the liquor store.’ …

The point here is, if no one has ever questioned your intellectual capabilities or attendance at an elite institution based solely on your skin color, this is white privilege [or bias, as some might say].”

A later example comes from Hutcherson’s work as a film and television writer/producer:

“While writing on a television show in my 30s, my new white male boss — who had only known me for a few days — had, unbeknownst to me, told another writer on staff he thought I was conceited, didn’t know as much as I thought I did, and didn’t have the talent I thought I had.  And what exactly had happened in those few days?  I disagreed with a pitch where he suggested our lead female character carelessly leave a pot holder on the stove and burn down her apartment. This character being a professional caterer.

“When what he said about me was revealed months later — by then he’d come to respect and rely on me — he apologized for prejudging me because I was black and female. I told him — not unkindly, but with a head shake and a smile — that he was ignorant for doing so and clearly had a lot to learn. It was a good talk because he was remorseful and open. [The subhead of her piece, by the way, is “Nobody is mad at you for being white.”]

“But the point here is, if you’ve never been on the receiving end of a boss’ prejudiced, uninformed ‘how dare she question my ideas’ badmouthing based solely on his ego and your race, you have white privilege.”

If ever there was a compelling treatise on what goes on between the races inside our buildings of business as opposed to the far-more-combustible streets below, especially over the past year, this is it.

Hutcherson’s last example, especially, should give us all pause: Perhaps the only way to shore up the divides, even at their most subtle, is to start — whether we’re the CEO, the head of HR or a direct supervisor — by admitting that certain behaviors or patterns of communication that are allowed to exist in business today are just wrong. Then start the conversation.

And then the training, if necessary.

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What’s Driving Engagement

Engagement continues to be a hot topic. So I guess it’s no surprise to find at least two vendors at this year’s HR Tech Conference unveiling research studies on the topic.

thinkstockphotos-460766179For starters, Oracle released its first Global Engagement Study earlier this week.

According to feedback from 5,000 full-time employees at a variety of organizations, 40 percent of the respondents said their employers could do more to leverage technology to better enable them to do their jobs.

Employees as consumers are more plugged into technology than ever—so they expect the same level of accessibility at work that they get in their personal lives, says Gretchen Alarcon, group vice president of HCM product strategy at Oracle.

The research found that the quality of the digital working experience impacts how much employees feel they are empowered to do their job.

As you might expect, the research also revealed leadership can be a huge driver when it comes to engagement.

“One of things we learned is that leadership availability really matters,” says Alarcon. “Do employees have the ability to ask questions? Are they approachable? Do they feel trusted [by their leaders]? All of these can have a direct impact on engagement.”

The study, based on 4,706 interviews conducted earlier this year by Kantar TNS, found that 47 percent of the respondents consider their leaders visible and approachable and 44 percent have confidence in the company’s leadership, suggesting that plenty of room for improvement remains.

Meanwhile, Ultimate Software released the results of its 2016 National Study on Satisfaction at Work survey, a study of 1,000 American workers conducted this summer by The Center for Generational Kinetics. This study found that trust, open communication and development opportunities play an increasingly important role in influencing employee satisfaction and commitment. Indeed, these factors typically had equal or greater importance than compensation or financial motivators.

“What the research showed us was that the No. 1 driver of employee satisfaction is how companies treat their employees,” says Adam Rogers, chief technology officer of Ultimate. (Rogers shared some of the findings in an Ideas & Innovators presentation at the conference earlier today.)

Exactly three-quarters of the employees surveyed said they were more likely to stay with a company longer if their concerns were heard and addressed, and 73 percent said they were more likely feel satisfied with their organization if it were to invest in their development.

Their level of satisfaction especially depended on how they were treated by their direct manager, even more so than how they were treated by the organization’s top leaders.

Often, Rogers notes, companies will devote resources to developing executives, but the research suggests that they might be better served if they focus on developing managers.

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Engaging the Talent of Tomorrow

ThinkstockPhotos-494940180Diane Gherson, CHRO at IBM Corp., laughs when she recalls the role technology played in improving the employee experience when she first joined the Armonk, N.Y.-based technology giant 14 years ago.

At that time, she says, managers received emails notifying them when team members’ birthdays were coming up, for example.

“And that was really exciting,” Gherson told the audience at this morning’s opening session at the HR Technology Conference at Chicago’s McCormick Place.

Now, she says, managers receive frequent messages with much more information on their employees. For instance, managers get notes telling them that a given employee hasn’t received recognition for his or her role in, say, a special project.

Gherson’s example was just one illustration of how technology has changed the way managers and employees do their jobs at IBM. As part of this morning’s “Engaging and Retaining the Talent of Tomorrow” panel discussion, moderated by Emmy and Peabody Award-winning journalist and Starfish Media Group CEO Soledad O’Brien, Gherson was one of four HR executives sharing the stage, and sharing insights into how the employee experience continues to change, and how HR is using technology to meet changing employee expectations.

Along with Dermot O’Brien, CHRO at ADP, Scott Pitasky, executive vice president and chief partner resources officer at Starbucks, and Francine Katsoudas, chief people officer at Cisco Systems, the assembled HR leaders also examined recent research findings that illuminate just how much those expectations are changing.

ADP’s recent Evolution of Work study found, for example, that 58 percent of workers saying they believe that traditional hierarchical structures in the workplace will soon be a thing of the past. The survey also found 95 percent of employees saying they believe they will soon be able to work from anywhere.

The number of workers who anticipate working where and when they choose presents opportunities as well as challenges, says Katsoudas.

At Cisco, “we believe in a concept that everything good happens in teams,” Katsoudas told the audience.

That said, teams can still thrive while working in disparate locations, she adds. Katsoudas and the Cisco HR team has focused on helping managers “really connect with their team members, and really connect them with the strengths of their individual team members.”

For example, managers rely on the company’s talent management platform to check in to see how their team members are progressing on a given project or task, and tweak their roles if need be. Managers can also send brief surveys to their direct reports, to get a feel for the level of engagement throughout their teams, and solicit suggestions on how to improve the employee experience.

As how, when and where employees work continues to change, “technology can actually reconnect us to the workforce,” says ADP’s O’Brien.

And, “it provides us with enough data,” adds Gherson, “to help us find ways to make the employee experience better.”

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Reassessing Engagement Surveys

At one time in the not-too-distant past, employees at Lloyd’s Banking Group were being asked to complete employee engagement surveys every three months or so, according to David Littlefield, the London-based bank’s group head of culture, engagement and insights.

“You can’t build an engaged workforce without affecting behavioral change,” Littlefield told attendees at a Wednesday afternoon session at HRE‘s HR Technology Conference.

Indeed. The problem with conducting such frequent surveys, however, “was that [the firm’s approximately 8,000] line managers weren’t gaining any new insights and didn’t have time to digest that much data and take action” on what the latest employee polls told them.

Thus, in 2015, HR at Lloyd’s developed and introduced its Building the Best Team Survey. Including between 60 and 65 questions overall, this new survey added more open-ended questions to the mix, “to give employees an opportunity to talk about what they like and don’t like” about their jobs, and about their roles within the organization.

The goal of adding such new queries was to gain insight into how employees felt in four areas: their satisfaction with their role in the company, their pride in their work, their likelihood to be an advocate for the organization and their intent to stay with Lloyd’s, explains Littlefield.

In addition to internal variables, outside factors can impact employee engagement as well, says Littlefield. External factors such as current economic climates and media coverage of the industry, he adds, are especially vital to perceptions of firms within the financial sector, and some questions were designed to gauge how employees’ views of Lloyd’s culture are affected by how the organization and the industry is depicted outside of the company.

Polling employees less frequently and seeking more substantial input has paid off, says Littlefield.

Currently hovering between 85 percent and 88 percent, “participation rates [for employee engagement surveys] have never been higher,” he says, adding that overall employee engagement scores have increased by 11 percentage points since 2014.  Part of the reason for this rise is attributable to allowing managers to revamp employees’ roles to better match their skills and help them achieve “what they want to get out of their work,” based on responses from the annual survey.

“When we share data from engagement surveys with managers, we tell them to think about that data for a few days, and figure out how they can help employees get energized and engaged,” continues Littlefield. “We’ve found that managers don’t want to talk about the science behind engagement scores, they want insight that they can take action on.”




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Does Your Firm Support Well-Being?

limeade_quantum_wbereportDid you know employee engagement and employee well-being are two different things? I kind of did, but this research by Limeade and Quantum Workplace (pictured at left) made the differences about as clear as they could be, given the subject matter.

The report, released last week, defines the two thusly:

“Engagement [is] the strength of the emotional connection employees have with their work, team, company and higher purpose. … Well-being [is] a state of optimal health, happiness and purpose.”

OK, different, yes, but clearly very related. In fact, that’s one of the report’s key takeaways: that when employees feel they have higher well-being, they’re more likely to be engaged in their work.

The survey of 1,276 employees across 45 U.S. markets found, more specifically, that 88 percent of employees who cited feelings of “higher well-being” (i.e., access to healthy options, the flexibility and freedom to pursue them and find balance between work and life, and a sense of belonging and value to an organization) also said they feel engaged at work, versus 50 percent for those citing “lower well-being.”

Moreover, 83 percent of those in the “higher” category say they enjoy their work versus 41 percent in the “lower” one, and 84 percent in the higher category say they’re loyal to their teams, versus 54 percent in the lower camp.

So, is all this an intuitive no-brainer? Well, yes and no, according to Dr. Laura Hamill, Limeade’s chief people officer and managing director of the Limeade Institute. As she puts it,

“The connection between well-being and engagement may seem intuitive, but there has been little research that statistically relates the two. These findings confirm the relationship and can serve as the foundation of taking companies from good to great.

“[This] connection is great news. It means that helping disengaged employees isn’t out of an organization’s control [and can actually, by enhancing retention and productivity, lead to] better business results. “

(Here’s another link to the study’s microsite with a cool video for your viewing pleasure.)

Also key to an employee’s feeling of well-being is organizational support, defined in the report as “the resources and nudges an organization intentionally provides to encourage well-being improvement.” More specifically, it says, “this research indicates that organizations should provide the policies, visible manager and leadership support, role modeling, encouragement and norms to fully support [that] improvement.”

(One interesting note: The study found managers to be the primary source of that support, or nonsupport, over and above executive leaders. “Managers,” Hamill told me, “can be the biggest obstacles to well-being improvement because they don’t understand its connection to team success or they are nervous about how to talk with their employees about their well-being. Organizations should educate managers about the impact of well-being on employee engagement — and give them the tools and support to make it a priority.”)

The numbers certainly bear out the importance of this organizational/managerial support. Seventy-two percent of people who felt their employer cared about their well-being also reported having higher organizational support, whereas only 7 percent of employees with lower organizational support reported feeling higher well-being. In other words, as perceptions of organizational support diminish, so do perceptions of well-being. So why is this finding important? According to the report’s authors,

“You’ve heard it before: It’s more expensive to replace an employee than to retain one. A 2015 study [‘The impact of human resource practices on employee retention in the telecom sector,’ published in the International Journal of Economics and Financial Issues] states that costs associated with a person leaving unexpectedly are usually 2.5 times greater than that person’s salary.

“So why not invest those dollars back in the people who already work for you to help retain them? Employees who feel they have higher well-being and who feel they have higher organizational support are more likely to want to stay in an organization — compared to those [in the lower groups].”

In fact, researchers found, about 98 percent of those who feel they have higher well-being and higher organizational support answered favorably to the statement “I would like to be working at this organization one year from now.” That number dropped to about 79 percent for people who feel they have lower well-being and lower organizational support.

Even more impressive in terms of sheer numbers, 99 percent of employees with high well-being and high organizational support recommend their employer as a great place to work.

“Employee engagement is the holy grail for many companies aiming to attract and retain top talent,” says Jason Lauritsen, director of customer success at Quantum Workplace. “[This report] validates this goal … .”

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Coming Soon: ‘Facebook at Work’

facebookThere was a time not so long ago when most employees were blocked from accessing Facebook while at work. My, how times have changed: Next month, companies will be paying Facebook so their employees can use “Facebook at Work,” a suite of business communication tools that’s designed to compete with the likes of Slack and Microsoft Yammer. The new application has been in beta testing with large companies such as Royal Bank of Scotland, and its capabilities could include the use of artificial intelligence technology to “read the mood of employees, including how they feel on certain topics,” according to USA Today.

Although those two products and others such as Salesforce’s Chatter are well-established brands with large customer bases, the sheer familiarity of Facebook’s user-interface (Facebook has 1.71 billion active users) may give it an advantage in the marketplace, writes TechCrunch’s Ingrid Lunden.

Its advantage lies in the fact that Facebook at Work’s user interface, functionality and even sign-in are all based on Facebook. That makes it instantly easy and familiar to use for many professionals, who will already be at least familiar with the workings of the social network, if not using it on a regular basis. (And that is crucial in a landscape where many companies have struggled to get their workers to engage well on their in-house “conversation” platforms.)

Unlike the other services, Facebook at Work will be offered to clients on a “per seat” pricing model rather than a flat fee, which could make it more affordable for smaller companies, reports ZDNet’s iGeneration. Facebook has not disclosed any specific pricing information yet for the service.

Facebook at Work is part of a trend in which companies are trying to spur greater employee use of enterprise software by making it more simple and user-friendly, like Amazon, Google and … Facebook. It will be interesting to see its full suite of capabilities at the official launch, scheduled for Oct. 10 in London.

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Forget the Fancy Job Titles

Employees walking around with titles like “chief happiness officer” and “product evangelist” are expected to be exuberant, enthusiastic proponents of a company’s internal and external brand.

And they could very well be crazy about the companies they work for. But they might not be so keen on such creative, “non-traditional” job titles, which a fair number of workers apparently don’t find all that endearing or even accurate.

A quarter of employees, to be exact, don’t care for using exotic monikers to describe their positions, according to a new survey from Spherion Staffing.

The Atlanta-based recruiting and staffing provider’s most recent WorkSphere survey found that 25 percent of employees consider “non-traditional” job titles unprofessional, and are against the idea of being christened with one. Nearly as many (23 percent) feel that flowery designations don’t capture what they actually do in their jobs. That said, 14 percent of employees who favor more tried-and-true titles believe they too could use improvement, saying that labels such as “project manager” and “specialist” are too vague.

Overall, 42 percent of workers said their current titles—be they old-fashioned or more “outside the box”—don’t really reflect their roles and responsibilities.

Regardless of what appears on their business cards, an overwhelming majority of employees expressed confidence in their ability to describe their jobs in a way that’s easy to understand. Eighty-nine percent of those polled said they would have no issues delivering an “elevator speech” that highlights their duties.

Those that don’t have such an easy time encapsulating what they do every day might struggle with summing up the complexities of their roles. Close to one-third (31 percent) of employees polled said their job or industry is too specialized to easily explain to a layperson. Twenty-nine percent said they try to avoid using work jargon in everyday conversation.

According to the survey, employees struggling to articulate their responsibilities may be making things harder than they have to be. Overall, 53 percent indicated they give different accounts of their jobs, depending on the audience. In addition, 11 percent said they sometimes lie about what they do for a living.

Whatever they tell others about their vocation, “employees take great pride in their job titles, and in some cases, a title that is considered limiting or hard to describe can significantly impact their job satisfaction,” says Sandy Mazur, Spherion division president, in a statement.

Faced with growing pressure to recruit and retain top workers, “reexamining how different titles are perceived and applied can make a big difference in building morale,” says Mazur, “and positioning a company as a favorable place to work.”


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The Toll of Talking Politics

It’s fair to say that this very unique presidential race has engendered plenty of, let’s say, spirited conversation.

Even if you abstain from political chatter at the office, you’ve probably heard at least one co-worker offering an in-depth analysis of the candidates and the issues shaping the 2016 election season.

And, as we enter the homestretch, employees are growing weary of such talk, and months of discussing politics—and hearing others discuss politics—is starting to take a toll on the workforce.

So says new research from the Washington-based American Psychological Association. The organization’s Politics in the Workplace: 2016 Election Season survey recently polled 927 employed American adults, and finds workers feeling stressed (17 percent), more cynical and negative on the job (15 percent) and less productive (13 percent) in the midst of political chit-chat.

Overall, 27 percent of workers reported at least one negative outcome stemming from political banter. Younger employees (age 18 to 34) are feeling the most ruffled, with more than one in four saying they’ve experienced added stress due to political talk in the workplace. In addition, more than twice as many men said election-related conversations are making it more difficult for them to get work done.

The especially vitriolic tone of this year’s race isn’t helping, either. Overall, 47 percent of employees said individuals are more likely to talk politics in the workplace this election season than in the past. On the bright side, though, a majority of respondents (60 percent) said co-workers are generally respectful toward those with differing political views.

That said, more than a quarter (26 percent) have seen or heard colleagues arguing over politics, with 11 percent of employees admitting they’ve entered the fray themselves at some point. Twenty percent of respondents, meanwhile, say they’ve taken to avoiding certain co-workers because of their political views.

“The workplace brings people together from different backgrounds who might not ordinarily interact with each other,” says David W. Ballard, director of the American Psychological Association’s Center for Organizational Excellence, in a statement.

“When you add politics to the mix—a deeply personal and emotional topic for many—there is potential for tension, conflict and problems for both employees and the organization.”

Indeed. And there might not be much that our major political parties agree on at the moment, but employees from both sides of the aisle seem to acknowledge that election fatigue has set in.

“Regardless of political identification, the heated discussions and divisive rhetoric this election season have the potential to take a toll on people’s well-being and even affect their job performance,” says Ballard.

“While employers may not be able to limit political discussions in the workplace, they can take steps to ensure those conversations take place in a civil, respectful environment. A psychologically healthy workplace is particularly critical during challenging and polarizing times, and these survey results highlight the fact that, despite conventional wisdom, people are often more alike than they are different.”

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Don’t Forget About Boomers

It’s easy to get caught up in how to attract and retain the millennials and members of Generation Z who will comprise the overwhelming majority of the workforce before too long.

Then there are the Gen Xers to consider—so crucial to your success today, as they settle into vital management roles within the organization.

But what about baby boomers?

We all know that boomers are hitting retirement age, but many are staying on the job. Much has been made of how companies will replace the knowledge and experience that boomers will take with them when they do leave the workforce, but a new survey from the Futurestep division of Korn Ferry looks at what this generation is bringing to the business now, and what motivates these employees most.

The poll asked more than 1,300 global executives to evaluate the role of baby boomers in their organizations. More than half (55 percent) of respondents said that boomers were willing to work longer hours than other generations, and were considered the second-most productive cohort, after Generation X.

Naturally, these seasoned employees require little hand-holding on the job, with 31 percent of executives saying boomers need less feedback than their younger colleagues, “demonstrating how boomers are also seen as reliable, in addition to hardworking,” according to a Korn Ferry Futurestep statement.

How do these dedicated workers find fulfillment on the job? Fifty-four percent of executives said that offering boomers the opportunity to make an impact on the business was the best way to retain boomer talent.

“This far outstrips the ambition of other generations, with just over a quarter (28 percent) of executives surveyed indicating that making an impact at work was the key motivator for millennials,” according to Korn Ferry Futurestep, “highlighting just how integral baby boomers are to businesses today.”

Most companies recognize as much, of course, and are eager to take advantage of boomers’ wealth of knowledge, with 50 percent considering “experience and expertise” as the main reason for bringing them into the business.

Once boomers are on board, how do you retain them?

It’s not necessarily money. Just 6 percent of respondents cited regular pay raises and promotions as the best way to retain boomers in their organizations. No, as previously noted, 54 percent of respondents said boomers most value the opportunity to make an impact, followed by “creating a culture that aligns with their values,” at 22 percent, management responsibilities (10 percent) and work/life balance (8 percent).

“While many in the baby boomer generation are working longer to provide more financial security after seeing their retirement account balances tumble during the Great Recession, their desire to extend their careers is not entirely financially motivated,” says Jeanne MacDonald, president of global talent acquisition solutions at Korn Ferry Futurestep.

“What is often overlooked is the fact that the majority of the people in this generation are highly motivated, enjoy what they do, and they provide great experience and value within the global workforce.”

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