GAUGING THE MARKET
Rajith Haththotuwegama , Manager – Data Analytics & Automation , Tecala
to keep existing employees happy and productive , especially in such a tight recruitment market .
For example , in Australia , 73 % of financial services employees identified as being ‘ engaged ’ and ‘ emotionally committed to their organisation ’. However , despite this , 18 % of respondents said they were seeking jobs elsewhere and another 10 % saw themselves leaving within two years . By contrast , financial services staff were three to four times more likely to stay if they felt their work was ‘ more than just a job ’.
These results are pushing leaders – and the organisations they work for – to develop new skills and specific initiatives to foster a meaningful work environment for individuals and teams .
But , this may not come naturally . According to PwC ’ s Global Workforce Hopes and Fears Survey 2022 : “ It ’ s rarely second nature for leaders to focus on making jobs fulfilling . Doing so requires deep empathy on the part of managers and the ability to translate the company ’ s overall purpose into specific actions and behaviours so that employees can see how their work contributes to that purpose . It also requires organisations to identify and eliminate gaps between their words and deeds .”
The report also stated : “ Managers can create the right work environment and leadership model , and they can remove the most burdensome aspects of employees ’ lives – excessive bureaucracy , points of friction , administrative tasks that sap the joy from work .”
Automation ’ s time to shine
Automating repetitive tasks is an increasingly valuable action that can remove the ‘ mundane ’ aspects of roles so that only the meaningful parts remain . In theory , this is great , however , how much of an employee ’ s role can be automated will need to be determined on a caseby-case basis . McKinsey , for example , estimates that 25 – 46 % of current work activities in Australia could be automated by 2030 .
These are not insignificant percentages . They offer a view on the significant time savings that are possible from automating uninteresting parts of current roles . Savings produced by automation promise to free up and create a time dividend that may be unimaginable today .
18 www . intelligentfin . tech