'Analyse the drivers of satisfaction at work'

Font Size

Print

Feedback

Email

Discuss

: Debra Cohen, chief knowledge officer, Society for Human Resource Management (SHRM), which has more than 2,25,000 members in over 125 countries, and a network of more than 575 affiliated chapters in the US, as well as offices in China and India. Cohen has spent more than 25 years in HR management and leadership positions. FE’s Avishek Dutta spoke to her about the challenges that HR firms face in a period of global economic slump. Excerpts:

What are the challenges before HR and talent management firms in the context of global economic slowdown?

Talent retention remains one the most critical issues in business today and is at the forefront of HR research and HR activity. SHRM research points to challenges in attracting and keeping the right talent, no matter the location or country. One option for stronger sustainability is to focus on the employer brand. With a strong employer brand, organisations can attract and keep talent better. Employees want to work for a company that fits their values. So, HR should help organisations create core values and foster employee engagement. HR should let employees know that their work is valued and that they contribute to the company’s success.

A primary challenge for HR is managing effective cost-reduction strategies while retaining talent. HR must balance the bottom line with effective retention strategies that keep employees engaged and committed to the organisation. Layoffs have historically not provided anticipated savings; they can rather have devastating effects on employees and their families.

How are various organisations, both in the US and the world over, facing up to these challenges?

SHRM research shows that organisations that focus on change management, strategic training & skills development and organisational communication are best positioned to deal with these challenges. For example, the SHRM 2008 Job Satisfaction Survey Report highlights that for employees, the top contributors to job satisfaction are job security, benefits, compensation, feeling safe in the workplace, communication between employees and senior management, opportunities to use skills and ability, relationship with the immediate supervisor, and the work itself. Thus, organisations will want to monitor and work on job satisfaction. It is always important, however, to analyse the drivers of satisfaction for your organisation and understand the unique challenges that may be faced by your employees as a group.