6 Must-Have Policies for the New Age Workforce

Rethinking culture and expectations

To keep pace with the progressive shift in organizational values, people friendly companies around the world are rethinking culture, expectations, and policies to be able to align with the requirements of the new age workforce.

The way people work and the expectations they have of their employers are evolving.

A lot has changed in the working ethos and environment in the current corporate set up and this has resulted in the need to not just make changes that support and empower our people, but also help them achieve a better work-life balance.

This eBook is our attempt to illustrate a few practices that we feel should be adopted to foster the dynamics and cater to the changes and pressures of today’s working environment.

Flexibility directly translates into a positive impact on workplace culture and affects the work-life balance of employees and managers alike.

It is no secret that a lack of flexibility in the workplace can lead to:

1. Higher stress levels
2. Lower morale
3. Lack of productivity, and
4. Overall engagement

So, what can we do to achieve this flexibility? There are a few things that can be implemented:

1. Remote Work
2. Strengthen internal communication
3. Allow for part-time positions
4. A flexible/condensed workweek

Our environment today has led many employees to rethink the importance of work in their lives and to change their relationship to it.

To cater to this change, leaders are no longer viewing flexibility as an HR policy but as an opportunity for organizational transformation that will benefit both, their people and their businesses.

As Shelly Holt, former CPO at PayScale very aptly puts it, “The way people learn has fundamentally changed…We need to create an environment where you learn, you practice, and you apply it. And it’s bite-sized.”

Learning and Development programs are critical for the success of organizations. These programs ensure that employees have the skills and capabilities necessary to do their jobs well.

Since a company is the sum of what its people achieve individually, organizations should do everything in their power to ensure that they can perform at their peak.

Below are several reasons exhibiting the value of training and development:

1. New hire induction
2. Improved performance
3. Employee satisfaction
4. Increased productivity, and
5. Self-driven

The key to building a successful employee training and development program today is the integration of instructor-led training, technology-based training, employee assessments, coaching, and measurable outcomes.

We need to consider it as a capital investment and make it a result-driven initiative.

For all of us, time off is an important part of balancing our professional and personal life, it allows us to take breaks from work— whether vacations or ‘staycations’—which helps avoid burnout.

When people cannot take time off, the quality of their work suffers.

Offering paid time off, provides several benefits like reduced unscheduled absences and better planning.

Additionally, this is a key component of the employee value proposition and retention – people are more likely to stay with their company when their needs are met and they feel valued.

Everyone benefits when employees take advantage of paid leave such as:

1. Increased productivity
2. Greater engagement &
3. Boosted creativity

To sum it up, as Shawn Achor says, “The greatest competitive advantage in the modern economy is a positive and engaged brain.”

Today, as the competition for talent escalates, the way organizations show that they value their people has become more important than ever.

The first good step is to create a recognition program, but great companies go further by constantly innovating and reinventing the dynamics involved.

Employee recognition refers to the many ways an organization shows its appreciation for employees’ contributions, which may or may not involve monetary compensation.

Companies recognize employees for things like:

1. Achievements
2. Exhibiting desired behavior
3. Exceeding expectations
4. Milestones, such as tenure

Employee recognition has no calendar — it is and will remain an important part of company culture all year long. Here are three reasons why:

1. Recognized employees are happy employees
2. Appreciative leaders are appreciated leaders
3. When people feel recognized, they stick around

Recognition is an essential element of any great workplace, and it doesn’t need to be complicated or expensive.

Love them or hate them, meetings make up a large part of what we call work. It’s how we discuss, share and brainstorm.

We can’t get rid of all business meetings, but we should be picky about the ones we host so we can run leaner and cleaner meetings.

Remote work can make it especially overwhelming and frustrating.

A no-meeting day is a day each week with no meetings meant for focused work. Regardless, every team member must be aware not to schedule meetings on this day.

There are many benefits of No Meetings Days:

1. Reduce distractions
2. More effective meetings
3. Increased employee engagement

Ultimately, it’s crucial to remain adaptable and willing to experiment with new methods to incorporate no- meeting days into our schedules.

Let’s lead by example and encourage everyone to make use of this simple yet effective time management strategy.

A diverse and inclusive workplace is one that makes everyone feel equally involved and supported, regardless of who they are or what they do for the business.

Equity in the workplace levels the playing field and gives everyone what they need to succeed.

Equitable employers surpass their competitors by respecting the unique needs, perspectives, and potential of all its people.

Illustrated below are few of its benefits:

1. Revenue growth
2. Readiness to innovate
3. Ability to recruit a diverse talent pool
4. Retention

If people do not feel that their ideas, presence or contributions are valued by their organization, they will eventually leave.

In short, leaders must continue to communicate the “why”, better align new anti-bias initiatives with the organization’s priorities, and do the tough work of identifying and fixing barriers.

Conclusion

With that, we come to end of this eBook which was meant to provide a quick preview to all the insights we have on the topic. Hope you enjoyed browsing this as much as we enjoyed putting it together.

Reach out to new@smartkarrot.com to learn more.