Employees are rethinking what they want from their job and the number of people willing to make a change has been on the increase.
Why is this happening?
How will this impact Debt Collection?
Who is at risk?
What can I do about it?
What opportunities for growth does this create?
What can you do about it
There is an opportunity to attract good employees if you can understand the reasons they’re quitting and adapt to solve these problems. Including flexible schedules, hybrid and/or remote working options, opportunities for growth, and inclusive culture and a strong employee/customer brand promise.
At first glance you may think this is a wage issue. But it is not just the money. Nine in ten would take a pay cut for a more meaningful job. And almost half of those contemplating a change indicated not feeling cared about by their employer through the pandemic.
Something, somewhere, has gone terribly wrong with the culture of work.
This is not about remote or hybrid. It’s about the disconnection between employees and their work. Alienation – built up by half-hearted diversity and inclusion policies, fragmented commitments and weak communication through hierarchies has left people feeling disconnected and unable to see the point in what they do. 65% of employees do not think their managers are effectively implementing their company’s purpose. There seems to be a gap between intent and outcome. People do not feel listened to and employers have failed to communicate purpose across the organizations. It’s time to rethink what inclusivity means and looks like at work and adapting a more holistic model of inclusivity, stressing open communication, collaboration and transparency in decision making. Hierarchies must be flattened and diverse voices encouraged and amplified to ensure consistent messaging is spread across the organization. Balancing well defined outcomes with trust and understanding are the building blocks to success.
Questions for auditing your culture.
- How are my employees wanting to be seen and engaged with?
- How can I support you to do the best work of your life?
- I want you to stretch and feel empowered and have agency.
- Let’s talk about why we do what we do, and how you make a difference in our mission.
Make the world better for your team, or 5 people around you, and model the culture you want.
Inclusivity means diversity and equity
As we dive into cultural competence, and addressing the gaps that exist, it’s also important to think about diversity, equity and inclusion. According to a Kaulkin Ginsberg study in 2020, 66% of all bill and account collectors identified as women, this is an important statistic to think about as we do the work of giving voice to and elevating the opportunities for everyone. Recognizing the value of differences provides unique opportunities for the cultural shift as we move into the workplace of tomorrow.
Being intentional about your culture begins with auditing and understanding.
Information is power, and informed, and aware debt collection companies can capitalize on this seismic shift—and the growing cultural focus on employee well-being, and equity for all—to create more caring, connected, and inclusive workplaces.
To learn about this topic including links and resources join the discussion at https://kindredforce.com/podcast/episode-12-the-data-behind-the-great-resignation/