What the winners are investing in: Their Employees
Is your organisation investing in your greatest asset? As the global marketplace shifts, organisations are attempting to find new ways to remain competitive and innovative. Recent trends have seen Australian employers investing more in their human resources than ever before, despite the advancement of automation and robotics. By investing in their people, Australian companies are able to better manage change, encounter difficulties, and leverage new technologies.
The Future of Work: Harmony between Robots and Humans
As the current labor force generation retires, employers are going to see labor shortages. Populations are decreasing, work perspectives are changing and though work remains the same, there are fewer employees available to fill the open slots. At the same time, many industries are also moving towards an increase in automation and robotics — the future of work lies in automated services, artificial intelligence, and robotic controls. Yet these automated services are going to need to be controlled, fine-tuned, and optimised by someone.
While low-level work is likely to be automated, higher-level work is going to become more important than ever. Employers are going to need to court the best talent to be competitive, and they may find themselves selecting from a smaller pool of sought-after candidates.
Here are some ways in which successful companies are adjusting to this new market.
- Named the third best “large workspace” in the Asia-Pacific Region
- Uses physical exercise to reinforce teamwork and company culture
- Encourages innovation even when the innovation isn’t profitable
Employees at some offices of the Atlassian begin their day with a Pushups and Planks workout schedule: a physical testament to the company’s strong culture. Meanwhile, company “ShipIt” days give employees the opportunity to innovate on any project they want. These initiatives are designed to encourage employees to work together, build camaraderie and teamwork, and improve each employee’s relationship with the business.
- Named sixth among small and medium workplaces in Asia.
- Supports more than 200 employees in 12 countries.
- Describes its mission as being “a force for good.”
Food is where the heart is. Canva brought in its own executive chef to cook meals for its 80-staff members, at a cost of approximately $10 a day. With vegan and vegetarian options available, Canva hopes to fuel their employees’ energy and productivity through better tasting, more nutritious food. Many companies are paying more attention to employee health, with the idea that a healthy employee is more likely to be focused and effective.
- Continually cited as one of the best places in which to work in Australia
- Provides flexible working arrangements to its employees
- Intentionally hires only those who fit into its company culture
Envato’s employment strategy is quite unique. Employees are allowed to work from anywhere they want for up to three months a year. This is apart from the many tech-friendly amenities Envato provides, such as milk bars, game tables, and consoles. By letting employees work from anywhere in the world, they get happier, more satisfied employees who are likewise willing to work harder.
- Named the ninth best workplace in Asia
- Builds on a foundation of six core values
- Committed to diversity, inclusiveness, and charity
Rackspace focuses on what it calls a purpose-driven culture, encouraging employees to give their time through volunteering and going the extra mile for their customers. Rackspace employees have 24 hours of paid volunteer time that they can use to make a difference, which contributes to the company culture of meaningful change.
Rackspace itself also maintains Racker Resource Groups, which offers employees networking opportunities and support. An example is RackParents, a group in which new parents can connect. These efforts foster a relationship with employees that goes beyond a company, turning it into a community.
What Can We Learn from These Companies?
Organisations such as Atlassian, Canva, Envato, and Rackspace are investing in their employee health and satisfaction, improving their work-life balance, and creating strong company cultures. The above companies encourage camaraderie between team members and foster a strong relationship between the company and its employees. All of this combines to create an environment that is happier and more productive, with greater levels of employee retention and the ability to procure even greater talent.
Creating Stronger Businesses through Employees
With the modern workforce shifting, it will become imperative for companies to find the best talent. Organisations must engage the C-suite when creating a stronger workplace environment, with the understanding that the workforce is about to change. Prior generations will retire and companies need to consider that newer generation workforces prioritise a feeling of meaning and well-being in their environment. Though artificial intelligence and robotics will fill some gaps, it won’t be able to fill everything.
From digital transformation to the new workforce, modern business is changing and it can be difficult to keep up. If you want to learn more about supporting your business in this new landscape, you need to connect and network with others within your industry. To learn more, contact TEC.