5 Areas of the New Employment Deal

February 24th, 2021
5 Areas of the New Employment Deal

Everyone is aware of how Covid-19 has completely transformed the way we do business.  Topping the list of changes the Pandemic has unlocked in this past year - a new set of employee expectations.  Leaders will be well-served not only to understand these new expectations, but to adapt to what’s been coined The New Employment Deal.

A few examples of how The Fulcrum Group has responded to employee expectations include:

  • Our quarterly Lunch & Learn events have adapted to an all virtual format, which allows employees, vendor partners and attendees to all join in together from wherever they are, and enjoy sharing valuable information (and even lunches) remotely.
  • The Fulcrum Group has always prioritized and prided itself on consisting of a socially and culturally diverse team.
  • Cultivating a learning culture and upskilling our teams play an important part in our general Fulcrum Group philosophy and 5 service Fulcrums.
  • The Fulcrum Group values transparency with clients as well as employees, as evidenced throughout our processes and procedures both internal and external.

Here are 5 areas all good leaders should be prepared to address in The New Employment Deal.

Personalized Flexibility

Going forward, the likelihood of remote work is here to stay and that kind of flexibility is shown to play a significant part in performance and job satisfaction.  A 2020 Employee Survey conducted by Gartner showed that the percentage of employees who are high performers increases to 55% when employees are offered some choice over where, when and how much to work, compared to a baseline of 36% in 9-to-5 office conditions.

In-demand skilled workers know they have a choice when it comes to where they work, both in terms of the organization and their preferred location, and to attract top talent, employers will need to be willing to accommodate those individual needs and preferences.

Good Corporate Citizenry

Companies throwing themselves behind various causes isn't new, and beyond recent social uprisings, employees are aligning themselves with employers whose actions speak louder than words. Gartner's survey revealed that while 40% of respondents were considered highly engaged, the number jumped to 60% when the organization took action on today's social issues.

By 2025, Millennials—a generation serious about corporate social responsibility—will make up 75% of the workforce. So while the trend towards corporations being good citizens was well underway, the events of 2020 just accelerated it.

Deeper, More Caring Connections

If great leaders have learned anything over the past year, we've learned that we should be invested in “humanized employment”—caring meaningfully about the humans behind the name tag or job title, about their physical, mental and emotional wellbeing, and supporting them both personally and professionally.

According to the Gartner study, employers that support their workforce more holistically realize a 21% increase in high performers. In other words, employees care that you care, and it shows in their performance.

Investment in Transferable Skills

Employees know their organizations have to adapt their business models to an all-digital future, but in doing so, they expect them to invest in their own upskilling and provide a career trajectory that’ll guarantee them a place in that future.

Communication and Transparency

Communicating often and authentically is especially critical during times of uncertainty when people of all generations are fearful about the future. Even if leaders can't answer all the questions, they're expected to be visible and to communicate what they know.

Read the article in its entirety here.

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