Your People Ecosystem 2
– Amidst the AI Hype
Special Edition Newsletter
Artificial Intelligence seems all-consuming these days – whether it’s the possibilities created by super human information processing and warp speed decision making, or the dark side of a Terminator universe (even Elon Musk and Steve Wozniak are nervous) – businesses are betting on the next generation technologies big time. Frankly, the big bet is useless if it doesn’t put people at the center of the equation.
As cited in a recent study conducted by NC State University in conjunction with Protiviti, the shortage of talent will continue for years to come. Chamberlain Advisors, for this very reason, developed an upskilling program for veterans to address the continuing skills shortage in finance. Acquiring talent is half of the challenge. Retaining your best and brightest is the other half and requires focus on corporate culture. Navan points to the importance of having the right policies in place to meet an employer’s duty of care which is a key piece in a culture of employee wellbeing. Motivosity embraces the science behind employee engagement to prove that the right culture will have a positive financial impact.
PEOPLE are still the core of any business. They are your customers, your shareholders, your employees. Take care of them. And when it comes to your employees, pay attention. Talent is scarce and costly to acquire. Retention is a strategic and competitive advantage. AI cannot replace the employee experience.
THE BUSINESS CASE FOR HIRING TRANSITIONING MILITARY VETERANS (AND HOW CFOs CAN SUPPORT VETERAN HIRING AT THEIR ORG)
There is a general perception that military veterans are great to hire for both their work ethic and a sense of duty to those who have served. Yet many veterans struggle to find quality employment opportunities when they leave the military, remaining underemployed for years after transition.
Employers struggle to understand the exact skills that veterans bring to the table, especially since they do not come from “cookie cutter” career paths.
Talent Strategies Demand a New Normal
The CFO Guide to Gratitude
Most executive teams have two main focuses this year, to improve retention and improve employee burnout. Therefore, employee engagement is no longer an HR problem, it is a business problem.
If you are reading this it’s likely because your company is thinking about doing something more for the team. Gallup reports that only 22% of employees are engaged in their work. If you could increase engagement, here’s what you stand to gain:
- Health costs for engaged employees are 41% less than their counterparts and 62% less than those of employees who are actively disengaged — this is largely due to benefits of positive mental health accompanying work that’s rewarding — or maybe employees with a more positive disposition view work as more rewarding than those who do not
- Turnover for this same group is 32% less
- Productivity for this same group is 13% higher
- Profitability increases by 22%
Navan’s Modern Approach to Duty of Care
- There are dozens of reasons to encourage employees to book travel and manage expenses through a single, centralized travel and expense platform. However, one aspect that is often overlooked is the duty of care.
- For companies asking employees to travel, a duty of care applies to practices, policies, business decisions, and even the healthcare that employers extend to employees in their working environment and outside the office.
A duty of care applies to practices, policies, business decisions, and even the healthcare.
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