Many of you visited our booth at the CHRP 2023 Congress. More than 200 participants took part in our fun workshop on positioning various HR symptoms on the Total Rewards spectrum. It was a pleasure to discuss the main HR issues or “symptoms” that you observe among your internal and external clients.
Below we present the two most frequently mentioned symptoms, along with practical advice on how to solve them.
Symptom 1: High Workload
The manpower shortage amplifies the pressure on existing workers, not only because of the lack of manpower, but also because of a shortfall in the skills of many new employees. Indeed, staff turnover during the past two years has exacerbated this internal pressure. The organization’s employees must work hard to train new employees to achieve the expected level of productivity. This increase of work means, among other things, a heavier workload, which can lead to absenteeism, presenteeism, and ultimately, a lack of initiative and creativity on the part of employees.
Workload, a Simple Concept?
Unfortunately, not. Workload is a complex concept to define and goes beyond the amount of work prescribed by the employer. It has a subjective dimension: perceived workload is just as important as requested workload1. It’s easier and more natural for managers to assess the workload requested, but more complex to understand the workload felt by employees. This requires a great deal of empathy and consideration, which translates into inclusive day-to-day management practices. It is therefore essential to provide managers with the tools they need to support their work teams, with the aim of ensuring a balance.
How Can You Support Managers and Their Employees?
Create a Climate of Trust
Managers need to open the dialogue with their team members, while creating a healthy climate of mutual trust to foster transparent exchanges on a daily basis. Continuous feedback, and genuine and caring exchanges will help adapt to everyone’s personal situation. Furthermore, online platforms such as Amélio will give employees a space where they can express themselves in complete confidentiality and confidence. Coaching managers in this approach is essential to frame the related management practices.
Carry Out an Organizational Diagnosis
The main objective of an organizational diagnosis is to obtain a clear, objective picture of the organization’s current state. In fact, an organizational diagnosis enables an organization to take an in-depth look at several elements, including its structure, operations, culture, human resources management, processes, and performance. The data obtained from the field, and the findings that emerge, provide an in-depth understanding of how the organization currently operates, and identify problems, gaps, opportunities, and potential areas for improvement. With these elements in hand, it is then possible to draw up an action plan prioritizing the issues currently experienced by employees, and to have a positive impact on the organization.
Responsibility Management Matrix (RASCI)
A tool frequently used in workload management is the Responsibility Management Matrix (RASCI). It is used to clarify the nature, scope and distribution of the various tasks required for a specific project or initiative, while quickly identifying the associated responsibilities for each employee. The accountability of each person involved is also clarified, helping to reduce the risk of confusion and oversights. What’s more, this tool identifies where employees could potentially benefit from more support, encouraging teamwork and mutual aid in the event of work overload.
RASCI, the Responsibility Matrix Tool: a means forovercoming labour shortages by optimizing the efficiency of work teams | Solertia
Symptom 2: High Financial Anxiety
The second most common HR symptom you have identified is the financial anxiety experienced by employees within your organization. In the current economic climate of uncertainty, inflation and high interest rates, employees are facing considerable financial challenges. These challenges are putting increased pressure on their finances. Employers have everything to gain from supporting their employees in reducing stress, which can ultimately boost their productivity. Indeed, employees preoccupied with their personal finances tend to be less focused on their work, leading to an increased risk of accidents and lower productivity. These factors can have a direct and negative impact on an organization’s profitability.
How Can You Help Your Employees?
Survey Your Employees
As each organization is unique, employers can start by surveying their employees to get an accurate picture of the current situation, and better target the actions they need to take to have the greatest possible impact. Solertia has developed a tool, the “Financial Health Barometer”, which confidentially measures employees’ level of affluence, knowledge, and financial anxiety. Considering the current economic climate, this tool is particularly interesting and useful.
Give Them Concrete Tools
Based on the findings of this analysis, a well-structured financial education program can be set up within the organization. This program will be tailored to the specific needs and concerns of employees, to meet the expectations of the different groups that make up the company (different generations, marital status, salary levels, etc.). The goal is to find a variety of ways to reach employees about the financial issues that matter to them, using approaches such as conferences, webinars, workplace meetings and individual consultations.
To cover the issues employees face in their daily lives, it is essential that the financial education program targets all aspects of personal finance, rather than being limited to a single area, such as retirement planning as an example. Personalizing the offer is an interesting approach to achieving the desired impact. In addition, it is possible to consider giving employees the opportunity to meet with an independent financial planner for an even more personalized support.
Distinguish Yourself with a Financial Support Offer
Implementing a comprehensive financial education program will help organizations stand out as employers in the job market. According to our Total Rewards Survey 2023, 30% of organizations have already taken the first step and implemented initiatives to help their employees cope with financial anxiety. Will you be one of them?
Solertia is a pioneer in the field of professional services, having created the first integrated center of expertise in total compensation and human resources management. Our holistic approach, focused on our clients’ objectives, is what sets us apart. Our genuine desire to help our customers achieve their organizational objectives is a feature that our customers particularly appreciate.
We can work with you to help your managers manage their teams’ workloads. How can we do this? By supporting them in the implementation of sound management practices, and in the reorganization or clarification of roles, responsibilities, and interrelations between positions, using a simple, proven methodology and tools.
Solertia has its own independent financial education program, which includes group initiatives such as personalized conferences, webinars, in-company presences, etc., as well as individual initiatives, such as one-on-one meetings with an independent financial planner, access to resources, etc. This program covers the full range of personal finance topics.
Would you like to continue the discussion? Contact us.