What’s Top of Mind for HR Leaders: Industry Roundtable
Rebecca Morris
Did you miss the live webinar? Watch the recording now.
The COVID-19 pandemic has dramatically changed the world of work. The move to remote and hybrid work, heightened racial injustice, vaccine rollouts, and labor shortages have elevated people-related issues to the forefront. Business priorities have honed in on the employee experience and the key challenges associated with this―from attracting and retaining talent to driving employee engagement, enabling holistic well-being, and creating a culture of diversity, equity and inclusion.
BrightPlan recently hosted an industry panel discussion to hear firsthand how people leaders are solving these most pressing HR challenges. The live event, What’s Top of Mind for HR Leaders, featured experts from Alliance Data, Sequoia Consulting Group, and Synopsys, and was moderated by Neha Mirchandani, Chief Marketing Officer and Head of People at BrightPlan.
Here are some takeaways from the session:
1. Attract & retain talent
Four million Americans voluntarily left the workforce in April 2021 alone―one of the highest numbers ever recorded. This trend is fueled by employees rethinking what they want in their careers along with the desire for better pay and greater flexibility.
Kerstin Aiello, Director of North America Benefits, Synopsys stressed the importance of flexibility in attracting and retaining talent. Over the past year and a half employees in many jobs have experienced greater flexibility in when, where and how they do their work. “I anticipate that if your workforce has enjoyed this, they’re going to want to see at least 85% of the flexibility they previously had to continue. If you go any further backwards, I think that’s where you’re at risk of an exit.”
Shannon Arens, Wellbeing Consultant, Sequoia Consulting Group shared the importance of factoring in diverse employee needs when considering the benefits that will help to attract and retain talent. “Employees want to work for a company where they feel their unique experiences are recognized and that they’re going to belong there.”
Total rewards also play a pivotal role in attracting and retaining talent. Deanna Allison, Senior Manager of Benefits & Financial Wellness, Alliance Data said “It can’t be all about physical health or retirement. It’s got to be about the whole package. People need to feel heard.” They need the ability to pick and choose what works for them and benefits need to be flexible for a wide audience. From a recruiting standpoint, “I also think that you should leverage your social media presence to highlight your benefits. You have to show you care and you have to show you do it well.”
2. Employee experience & engagement
With the shift to remote and hybrid work, HR leaders are challenged with redefining the employee experience. Benefits that were key to driving employee engagement in a pre-pandemic workplace, such as office perks, gym memberships, commuter benefits and catered lunches, are mostly obsolete now. In the current reality, HR leaders are rethinking how to create a stellar employee experience in a mostly remote or hybrid work environment.
In the early days of the pandemic, Kerstin was concerned about parents who were supporting their children with remote learning while also trying to do their job. The company added additional benefits to help parents wade through the challenges of childcare and distance learning. She also noticed employees weren’t taking time off. Synopsys added five refresh breaks per year, which are days in which the whole company takes off to rest and recharge.
Deanna noted that in a remote environment, connection can be more difficult. “Managers with great engagement scores do a few things that look similar.” They foster connection through informal group chats with the team, virtual lunches, care packages, virtual wellness challenges, and electronic birthday and anniversary cards signed by everyone on the team.
Shannon added that employees are measuring their experience by how supported they feel and whether their manager has empathy for their personal challenges. “Nobody is expecting managers to be therapists. I think that’s where managers get weary about starting to have personal conversations.” In 1:1 conversations with their direct reports, managers may hear about certain personal struggles and can recommend company benefits that may help support the employee. This really shows the organization cares for them as a person.
3. Holistic well-being
Holistic well-being is about addressing the well-being of the “whole person” from a physical, mental, emotional and financial perspective. There’s a direct correlation between these elements of wellness and employee engagement, productivity, and business results. For example, the BrightPlan 2021 Wellness Barometer Survey found that financial stress cost U.S. employers $4.7 billion in lost productivity per week. Supporting employee well-being and taking care of the whole person is not only the right thing to do, it also has a very tangible impact on business success.
Shannon highlighted a few trends she’s seeing related to holistic well-being. The first is increasing access to all mental health modalities―not just clinical therapy, but also strategies aimed at preventing burnout and lanquising. The second is inclusive family forming benefits. And the third is financial well-being, looking outside the organization to bring in experts for budgeting, goal setting, and financial planning.
4. Diversity, Equity and Inclusion
Diversity, equity and inclusion (DE&I) has continued to be top of mind for HR and leadership teams throughout the country. An inclusive workplace is an environment that makes every individual feel respected and welcome. You can’t have an engaged workforce without focusing on wellness, and you can’t have a wellness culture if you don’t foster inclusion and diversity.
Looking at DE&I from a benefits perspective, Kerstin of Synopsis felt the company was a little too close to their plans and programs and that they may have been blind to elements that were adversely impacting different groups. They took an outside-in approach to assess their benefits offering and engaged an agency to review their plans and identify potential gaps. Deanna of Alliance Data took a similar approach by focusing on the well-being of specific populations, such as parents, single-income families, and LGBTQ workers. They’re focused on determining if any underrepresented groups have been missed and are committed to addressing any gaps.
The COVID-19 pandemic put a spotlight on employee wellness and the role employers need to play in supporting their employees’ well-being. As HR leaders continue to evolve their post-pandemic strategies, offering resources and tools to improve employee wellness, fostering inclusivity, and improving the employee experience can help create a workplace where employees thrive―ultimately contributing to positive business results.
