iF Quarterly

Employing a people-first strategy

Are you listening to and engaging with your employees?

Last week, LinkedIn shared a list of challenges the American worker faces this summer; among them, labor shortages, a bear market, inflation, and uncertainty about a return to work in the office. Amidst the chaos, leaders are coming to terms with the importance of valuing their employees as stakeholders to make their organizations, not just a place of work, but also as an environment where their workforce feels valued and wants to stay.

This edition of iF Quarterly is a compilation of best practices for employing a “people-first strategy” at an organizational level, crafted from our own experiences as well as with the input of some of our guests from The Hunt for the How podcast.

Emphasize and encourage transparency in hiring, reviews, and departures.

“I always go back to the question, what does it mean to be valued at work? It requires companies to be transparent about how they pay, or why they pay what they pay, and where employees are in range. It can have a tremendous impact and a competitive advantage in a positive way, both on the recruiting side, but also on the retention side.” -Maria Colacurcio, CEO of Syndio (Season 2, Episode 2)

The next generation of American workers are not afraid to share how much they make. About 42% of workers between the age of 18–25 say they have shared salary information with a colleague, per CNBC. Not only are cultural attitudes shifting, pay transparency regulations are becoming widespread. In iF’s home state of Washington, beginning Jan 1, 2023, employers with 15 or more employees must include a “wage scale or salary range” along with information about benefits and other compensation in each job listing. A savvier talent pool with increasing options will be on the lookout for transparency, not only about compensation, but also about the culture, challenges, and opportunities the company faces.

Be thoughtful and clear in defining where your organization stands on certain issues, both internally and externally.

“Can we make a unique impact? Do we have brand permission? What has been our behavior through time on any given issue? It doesn’t mean we’re handcuffed to the past. But if we speak out or remain silent on something, take [action] or not, it may represent either a consistent data point in a history of behavior, or it could be a departure from that. And if it’s a departure from that, let us do it with intent. Let’s explain it. Let’s defend it.” -Jon Iwata, Executive Fellow, Yale School of Management (Season 1, Episode 1)

In a time wrought with polarizing social issues, leaders are facing insurmountable pressures to take a stand one way or another. Employees are no longer accepting of organizations staying silent on the issues that impact them, and are also prepared to call out when statements are not founded in real action. In response to the latest SCOTUS ruling overturning Roe v. Wade, many major institutions are publicly voicing their concerns about women’s rights. Cited frequently in these statements are commitments to employees’ health care access, and a voice of support for women at their respective organizations. When employees are able to clearly identify that their place of work is in support of the issues that they care about, they will feel better cared for and engaged.

Take time to recognize the contributions of employees to the greater mission and purpose of the organization.

“The most sustainable thing is when you really connect with an employee, and they realize that they are making a difference, and they have a purpose, and it gives their job even more meaning.” -Ginger Hardage, former VP of Culture and Communication at Southwest Airlines (Season 2, Episode 7)

Gallup reports that only one in three workers in the U.S. and Germany strongly agree that they received recognition or praise in the past seven days for doing good work — and those who disagree are twice as likely to say they’ll quit in the next year. However, more often than not, employee recognition can feel empty and performative. When an organization’s workforce buys into the mission, vision, and values of the organization and feels they are practicing them everyday, they will feel that their contributions are making a difference. Recognition should be given not only when key targets are met, but when employees are living the values of the company.

Engage with and listen to the communities your workforce is a part of.

“We extensively poll Americans and ask what they think companies should be doing. Year over year, the top issue people care about is how a company treats its workers. However, their focus more broadly is how a company thinks and operates holistically with regards to their investment in relationships with communities.” -Alison Omens, Chief Strategy Officer at JUST Capital (Season 2, Episode 3)

Community involvement is part and parcel to effective employee engagement. iF is starting on a B Corp journey, which has been a great framework to think about our own community engagement. In a recent internal organizational self-assessment, iF found that employees were overwhelmingly interested in more active engagement in our community. When organizations acknowledge the community as a stakeholder of their organization and actively participate as a member of that community, it signals to employees that leaders see beyond just the bottom line. Studies show that employees want to feel like they are contributing to more than just a company’s bottom line. An effective way to begin community engagement is to establish internal task forces in a co-design effort that gives employees ownership and autonomy.

Tell us how you’re employing a people-first approach at your organization!

Every quarter, Intentional Futures puts out a long-form piece on what we’ve been up to, and what we’re thinking about.

If you’re interested in getting the iF Quarterly directly in your inbox, subscribe to our newsletter here.