T
he contract between employers and employees has changed in recent years. Up until this point, responsibilities to workers have been pretty simple: provide economic
security and a sense of belonging. The pandemic helped shift this relationship, with employees coming to expect flexible working, less supervision and more emphasis on their personal health and wellbeing. To make matters complicated, economic and geopolitical trends have put stress upon companies. Employees are now left wondering if any recently won support and benefits might be short-lived as businesses begin to cut back. Meanwhile, technology’s advance and the need for both businesses and people to remain desirable and competitive continues. But where does this leave the employer and employee dynamic?
RELATIONSHIP DYNAMICS To kick off, panellists offered their perspectives on how the contract between employers and employees is evolving. “The employer and employee relationship is something that is becoming top of minds for everybody,”
said Heidi Sichien, chief people officer at Philips. “The art is to link people centricity with the values you want to create as an organisation. Hooking up people’s personal requirements with the organisational need is essential in avoiding that disconnect.” Wendy Sherry, CEO Americas at Cigna Healthcare,
discussed how the pandemic has caused many individuals to reassess what’s important to them. “Our latest study revealed some key markers that
really show a shift in employee attitude. For instance, 75% of people we spoke to said being close to their families and friends was more important now than it was pre-pandemic. While 71% of our respondents said they’re looking to their employers to help with their health and wellbeing more than ever before. Perhaps the most surprising, 60% said they valued time for themselves over a well-paid job,” added Sherry. According to Sherry, the research also indicates that
employers providing basic healthcare benefits is just no longer sufficient. “Another factor has been the cost-of-living crisis and global inflation. People are starting to feel the pressure
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GLOBAL LEADERSHIP
TALENT MANAGEMENT
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